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Thanks for this. I also ordered from All-American Ford Paramus and have been dealing with Keung as my sales consultant. I have mentioned the X-plan pricing and the lack of sales tax, and he didn't seem to balk at either one of them as long as I brought in all of my paperwork.

If you don't mind me asking, was there a reason you chose to do the Options Plan over standard financing? I am leaning toward the 48 month or 60 month financing, as I also have a trade-in.
I chose Options because a) would rather have a smaller monthly cash outlay, and b) the EV market is changing fast. In 4 years, if EV's have drastically changed, I would probably take the opportunity to return my 2021 MME and get a 2025 MME! Although, I am definitely falling in love with the car and will probably just pay it off at the end!

By the way, Keung was also my salesman. So he's now well versed in the Mach E, X Plan, and Ford Options!!
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Thanks for this. I also ordered from All-American Ford Paramus and have been dealing with Keung as my sales consultant. I have mentioned the X-plan pricing and the lack of sales tax, and he didn't seem to balk at either one of them as long as I brought in all of my paperwork.

If you don't mind me asking, was there a reason you chose to do the Options Plan over standard financing? I am leaning toward the 48 month or 60 month financing, as I also have a trade-in.
The main reason for me was exactly as Johnny said: I essentially get a guaranteed minimum resale value in 4 years if I decide to upgrade to what I hope is a much better/faster charging solid state battery. Also, if you do the math with the $2500 cash back on options, you actually pay roughly the same to buyout the car at the end as with regular financing at 0.9%. Assuming $10k down and 15k miles, the balloon payment on a CA route 1 would be $17300 after 47 payments of $502.40. Assuming you finance the balloon for 3 years @3%, the payments would be $503.28. A straight 4 year buy @0.9% comes out to $867/mo.

Total cost to own w/options: (502.40 x 47) + (503.28 * 36) = $41730 (plus $10k down)
Total cost to own 48 mo finance: $867.83 x 48 = $41656

A worst case of getting hit with 4% on the 3 year balloon loan would raise the TCO by $242. That's a small price to pay for the security of knowing you have an "out" if the car ends up with serious long term issues or a dismal resale value due to significant improvements in battery technology.

I chose Options because a) would rather have a smaller monthly cash outlay, and b) the EV market is changing fast. In 4 years, if EV's have drastically changed, I would probably take the opportunity to return my 2021 MME and get a 2025 MME! Although, I am definitely falling in love with the car and will probably just pay it off at the end!

By the way, Keung was also my salesman. So he's now well versed in the Mach E, X Plan, and Ford Options!!
 

Return of the Mach

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The main reason for me was exactly as Johnny said: I essentially get a guaranteed minimum resale value in 4 years if I decide to upgrade to what I hope is a much better/faster charging solid state battery. Also, if you do the math with the $2500 cash back on options, you actually pay roughly the same to buyout the car at the end as with regular financing at 0.9%. Assuming $10k down and 15k miles, the balloon payment on a CA route 1 would be $17300 after 47 payments of $502.40. Assuming you finance the balloon for 3 years @3%, the payments would be $503.28. A straight 4 year buy @0.9% comes out to $867/mo.

Total cost to own w/options: (502.40 x 47) + (503.28 * 36) = $41730 (plus $10k down)
Total cost to own 48 mo finance: $867.83 x 48 = $41656

A worst case of getting hit with 4% on the 3 year balloon loan would raise the TCO by $242. That's a small price to pay for the security of knowing you have an "out" if the car ends up with serious long term issues or a dismal resale value due to significant improvements in battery technology.
Thanks for the input guys, I am glad I asked on here before going to the dealership because the education that you have provided me was leaps and bounds what I would have expected to receive from them!

It sounds like Ford Options might be the way to go for me as well, assuming it wouldn't be silly to provide my 2018 Fusion as a down-payment (current trade-in value is between $17k-18k). I would probably opt for something in the 15k miles per year range as well, since I was doing about 17k miles per year commuting to work before COVID, and I do not think I will be returning to a 5-day workweek in the office....
 

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Thanks for the input guys, I am glad I asked on here before going to the dealership because the education that you have provided me was leaps and bounds what I would have expected to receive from them!

It sounds like Ford Options might be the way to go for me as well, assuming it wouldn't be silly to provide my 2018 Fusion as a down-payment (current trade-in value is between $17k-18k). I would probably opt for something in the 15k miles per year range as well, since I was doing about 17k miles per year commuting to work before COVID, and I do not think I will be returning to a 5-day workweek in the office....
Hmm, forgot to mention the one hitch: you can only put 30% down on options. Depending on the trim you're getting, your trade might be over so the dealer will have to write you a check for the extra. Or, sell it to carmax or whoever and limit the cash down to 30%
 

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Hmm, forgot to mention the one hitch: you can only put 30% down on options. Depending on the trim you're getting, your trade might be over so the dealer will have to write you a check for the extra. Or, sell it to carmax or whoever and limit the cash down to 30%
Are you sure about the 30%? I was playing with the finance calculator a while ago and it let me enter $22,500 on an MSRP of $56,040 (before the $2,500 credit). It wouldn't let me got an appreciable amount higher than that, though.
 


timbop

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Are you sure about the 30%? I was playing with the finance calculator a while ago and it let me enter $22,500 on an MSRP of $56,040 (before the $2,500 credit). It wouldn't let me got an appreciable amount higher than that, though.
Positive.
 

Return of the Mach

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Hmm, forgot to mention the one hitch: you can only put 30% down on options. Depending on the trim you're getting, your trade might be over so the dealer will have to write you a check for the extra. Or, sell it to carmax or whoever and limit the cash down to 30%
Thanks for all of the helpful info Tim. I actually spoke to my salesperson Keung and he said that they would just cut me a check for the difference if I decided to trade in my car with a higher value than 30% of my Mach-E MSRP (which I believe is $50,800 after destination, if that counts) ?.
 

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Hey Tim, you get any feedback from the State re the $5k incentive. I got an email response from Ann King, apparently they are about 80 days from submission to review so it sounds like it’s going to be a long haul before we even hear that we are approved or not. Still hoping for the best but who knows? Also got my first crowd checking out the car. About 5 employees from the BestBuy in WW came out of the store to check it out right as I was walking back to it.
 

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Sorry I posted this in another forum but this seems more appropriate. I just read the BPU stance regarding order dates vs purchase dates and possibilty of some getting the 5k incentive.

Does the converse also hold true to cars ordered in 2020 and delivered during phase 2 in the summer? Will still qualify for phase 2 and not be considered as purchased last year which are not eligible?

With initially a mid May 2021 production date, I'm currently hoping my delivery is delayed into phase 2 now.

Any thoughts on discussion with dealer to delay purchase until after delivery if it gets close to start of phase 2 within 1-2 months. I know they may lose some money waiting to close deal but wonder if it could be quantified and worked out. If you are trying for ford financing incentive, x pricing, and then this NJ Charge up thing, what is the best way to bring it up without getting dismissed or pressured.
 

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Does the converse also hold true to cars ordered in 2020 and delivered during phase 2 in the summer? Will still qualify for phase 2 and not be considered as purchased last year which are not eligible?
If you buy it after the second phase starts it won't matter when you ordered it - you'll get the rebate on the transaction. What isn't clear to me is the amount: when they first passed the law in Jan 2020 it explicitly stated that the $5000 was for the first year and will be reevaluated after that. I suspect it isn't going to be $5000 in the second phase.
 

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If you buy it after the second phase starts it won't matter when you ordered it - you'll get the rebate on the transaction. What isn't clear to me is the amount: when they first passed the law in Jan 2020 it explicitly stated that the $5000 was for the first year and will be reevaluated after that. I suspect it isn't going to be $5000 in the second phase.
Will it be point of sale for the second phase? I thought I remember reading that somewhere.
 

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Will it be point of sale for the second phase? I thought I remember reading that somewhere.
Yes, point of sale. We'll see what happens on point of sale program details...
 

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Hey Tim, you get any feedback from the State re the $5k incentive. I got an email response from Ann King, apparently they are about 80 days from submission to review so it sounds like it’s going to be a long haul before we even hear that we are approved or not. Still hoping for the best but who knows? Also got my first crowd checking out the car. About 5 employees from the BestBuy in WW came out of the store to check it out right as I was walking back to it.
Really 80 days!!!!!......I applied about the same time as Tim, and I was about to ask him if he has heard anything....I guess the 80 day thing would bring us to May ish......can there be that many applications??...I guess maybe a backlog from that Dec. 15, 2020 date....oh well
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