Current State Of Ford Options?

[HuntingPudel]

I'm in Oklahoma and it is one of the states that allows the dealer to set the price so as far as this state goes, I can't think of a reason a dealer wouldn't mind the X-Plan, unless they didn't want the extra paperwork.

I can’t either, but my dealer told me they decline to participate.

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[deadduck]

I have a select and they offered me 4.25% I told them I wanted to get the 2.25% financing and showed them the difference in monthly payment. They ending up agreeing to much lower monthly payment. And while they didn't explicitly state 2.25% financing - I'm pretty sure where that's at for Select.

Again, this is the thing. It should all be clearly disclosed. Ford Options isn't so complicated that it can't be placed on a website where you can reliably calculate everything including rebates, financing terms and TTL. Yes, they're different by state but it's manageable at worst to a close approximation.

If the DMV can give me my TTL on a website, Ford damn well can do that and more.

Being dead straight-up organized and transparent about all of this would eliminate a really huge chunk of shenanigans. FFS, make the damn transaction a process where everything is laid out so you don't show up with wheel locks, nitrogen, rust proofing, a $5K markup on the vehicle and a guesstimate that the options plan might be right.

 

[tacobellcow]

Again, this is the thing. It should all be clearly disclosed. Ford Options isn't so complicated that it can't be placed on a website where you can reliably calculate everything including rebates, financing terms and TTL. Yes, they're different by state but it's manageable at worst to a close approximation.

If the DMV can give me my TTL on a website, Ford damn well can do that and more.

Being dead straight-up organized and transparent about all of this would eliminate a really huge chunk of shenanigans. FFS, make the damn transaction a process where everything is laid out so you don't show up with wheel locks, nitrogen, rust proofing, a $5K markup on the vehicle and a guesstimate that the options plan might be right.

I was saying this to my wife the other day. Imagine not being organized/smart as a buyer, or not having access to the site. The dealers could crush you. And since you pre-order, it gives them way more leverage. It isn't great.

 

[rgonyer]

There’s no prepayment penalty.

I’m paying more than my normal monthly payment too.

I wound up signing the Options paperwork today, thank you so much for all your assistance!

 

[jmn1226]

Just got back from my GT purchase at dealer in Easter PA. Smoothest car purchase I have ever been through using Ford Options Plan. In and out the door in about an hour. $2500 incentive and 1.4% rate were both part of the plan by default and honored, no issues with any back and forth. Also used x-plan that locked in the discount and the $100 flat fee for documents (or whatever its called). All in all, zero issues. Everyone that is worried about the Ford site and not showing proper incentives, hope this is some peace of mind.

And the car came with 2 keys!

 

[BMT1071]

Again, this is the thing. It should all be clearly disclosed. Ford Options isn't so complicated that it can't be placed on a website where you can reliably calculate everything including rebates, financing terms and TTL. Yes, they're different by state but it's manageable at worst to a close approximation.

If the DMV can give me my TTL on a website, Ford damn well can do that and more.

Being dead straight-up organized and transparent about all of this would eliminate a really huge chunk of shenanigans. FFS, make the damn transaction a process where everything is laid out so you don't show up with wheel locks, nitrogen, rust proofing, a $5K markup on the vehicle and a guesstimate that the options plan might be right.

Credit scoring is one of the most opaque processes. Couple that with the various different scores from multiple bureaus and you will never get a guarantee from any lender until they have pulled your credit report. Scores can also change radically in a short time period depending on consumer behavior. Ford also won't reveal how their tier system is tied to the more common 3 digit scores people are used to seeing.
TL;DR The best you're gonna get is an estimate until it's time to sign on the line.

 

[generaltso]

Others have said 2.25%. There was an individual on Monday, and one on Thursday of this week in this thread that got the 2.25% plus $1,000 rebate.

I have a select and they offered me 4.25% I told them I wanted to get the 2.25% financing and showed them the difference in monthly payment. They ending up agreeing to much lower monthly payment. And while they didn't explicitly state 2.25% financing - I'm pretty sure where that's at for Select.

I'm not 100% on premium. But it would have to be no higher than 2.25%.

It‘s 1.4% for the GT and 2.25% for all other models.

 

[BMT1071]

It‘s 1.4% for the GT and 2.25% for all other models.

To clarify, those are the lowest rates available for Tier 1/0 customers. Dealers are allowed to mark that up, and of course if your credit isn't top level it will definitely be higher.

 

[jgillmer]

Just got back from my GT purchase at dealer in Easter PA. Smoothest car purchase I have ever been through using Ford Options Plan. In and out the door in about an hour. $2500 incentive and 1.4% rate were both part of the plan by default and honored, no issues with any back and forth. Also used x-plan that locked in the discount and the $100 flat fee for documents (or whatever its called). All in all, zero issues. Everyone that is worried about the Ford site and not showing proper incentives, hope this is some peace of mind.

And the car came with 2 keys!

By chance, can you take a look at your paperwork to see what program # they list for the Ford Options w 1.4% and the incentive cash? For example, when I first ordered my GT in May (coming first or 2nd week of November), the $1,000 incentive (I live in VA where it is lower than in PA) to use Ford Options is the "Ford Options Retail Bonus Cash Program#13970" and the Ford Options GT 1.4% APR is "Ford Options APR Program #21244." I'm sure the program numbers have changed with the offer expirations and renewals - it would be helpful to know the current program number for each when I go to the dealer to take care of financing and paperwork. Thanks so much, and congratulations1

 

[J5hort]

Hi,

I've searched and can find nothing about what is happening with Ford Options? I still see the page referenced on the Ford site but it has no amounts and the calculator is gone. Hoping we can have one thread on the topic rather than nesting it in 10 others.

Is there still a rate of 2.25%? Does the $2.500 rebate + $100 still apply?

Of course, who knows what will happen in 7 months when these orders finally get filled but it would be nice to have some confirmation on these items. Losing that rebate is a significant price increase.

Thanks for any information.

Bought mine at end of September and told that the $2500 dealer rebate was going away in October. Was able to get an additional $500 manager discount as well.
Not sure about Ford Option future, but was able to get at end of Sept. I did buy from the lot vs. online.

 

[jmn1226]

By chance, can you take a look at your paperwork to see what program # they list for the Ford Options w 1.4% and the incentive cash? For example, when I first ordered my GT in May (coming first or 2nd week of November), the $1,000 incentive (I live in VA where it is lower than in PA) to use Ford Options is the "Ford Options Retail Bonus Cash Program#13970" and the Ford Options GT 1.4% APR is "Ford Options APR Program #21244." I'm sure the program numbers have changed with the offer expirations and renewals - it would be helpful to know the current program number for each when I go to the dealer to take care of financing and paperwork. Thanks so much, and congratulations1

Looked at all the paperwork and didn't see program number anywhere. If anyone has any idea where it may be listed, let me know.

 

[scoopman]

Just got back from my GT purchase at dealer in Easter PA. Smoothest car purchase I have ever been through using Ford Options Plan. In and out the door in about an hour. $2500 incentive and 1.4% rate were both part of the plan by default and honored, no issues with any back and forth. Also used x-plan that locked in the discount and the $100 flat fee for documents (or whatever its called). All in all, zero issues. Everyone that is worried about the Ford site and not showing proper incentives, hope this is some peace of mind.

And the car came with 2 keys!

This is all dealer-dependent. I'm not worried about Ford Options, but I am worried that my dealer is going to screw with me on lack of transparency on Ford Options because its basically the only way I've left them to try and get more money out of me. It's up to the dealer what interest rate they offer you I believe.

I'm happy you lucked out with an honest dealer. They are few and far between these days.

 

[deadduck]

Credit scoring is one of the most opaque processes. Couple that with the various different scores from multiple bureaus and you will never get a guarantee from any lender until they have pulled your credit report. Scores can also change radically in a short time period depending on consumer behavior. Ford also won't reveal how their tier system is tied to the more common 3 digit scores people are used to seeing.
TL;DR The best you're gonna get is an estimate until it's time to sign on the line.

I agree on the opaque nature but think maybe we’re not making the same point. I woke up $750K in cash richer one day last year. Technically, it happened 3 years earlier in an inheritance but that’s when we sold the property. My credit score barely moved. In fact, when I spent roughly $30K over 2 months, my credit score dropped 30 points, despite the fact I was richer than I had ever been, by a lot, and easily paid the cards off.

Dumbest system ever.

You could run the calculator through an estimated credit score but that’s not really what I’m after. It’s also easy to get a credit score. In fact, Ford could run your credit during the process. It’s already an option to have your credit run on some manufacturer websites, not sure about Ford. And, 3 of my credit cards give me a free credit score so it’s not hard to get one.

Regardless, the process needs to more transparent. I should be able to go to a calculator, run everything through it for a purchase, at an interest rate, generate payments and the balloon so I can verify, and trust, the accuracy of what I’m signing.

Right now, that’s hard to do, and we’ve clearly seen dealers screw it up, for whatever reason. I won’t even accuse them of playing games, having this is a benefit to the one’s trying to do it right, so we know they’re doing it right. And it protects us from honest errors too.

They can absolutely do this. In fact, they already are doing it. They just aren’t willing to show it to us.

 

[macchiaz-o]

Regardless, the process needs to more transparent. I should be able to go to a calculator, run everything through it for a purchase, at an interest rate, generate payments and the balloon so I can verify, and trust, the accuracy of what I’m signing.

The thing is, you already can do this. I wrote a calculator in Excel. And there are lots of web sites with calculators for balloon style loans. Or you can do your own math.

I think the only thing you're not seeing from Ford is the best rate that they're willing to offer to YOU. But I'm thinking you could find that out by having your dealer run a check through Ford Credit.

Except, there's little value for someone in your position to do that until you're within a week of signing the purchase agreement.

Things change. As you already explained, your score changes. Rates offered by Ford Credit can and DO change. What matters is what YOUR options are at the time you and your dealer are ready to come to final agreements.

With ample cash (if you still have it), you have several options besides Ford Options. You could walk away, pay cash, get private lending, or one of several options offered by Ford Credit. Choice puts you in a powerful position in this case.

Also, it makes good sense to me that Ford Credit would hold its scoring algorithm and its information sources as private and highly proprietary. If we knew what they knew and how they'd use it, we, and especially their business competitors, would game the system.

It's the same opacity with see with Experian, et al.

 

[deadduck]

I invested most of it but have enough cash to pay cash.

Still, if I rolled in and didn’t say anything, they‘d offer me a rate of 3.99% or 4.99%, not the top tier rate, because it’s just what they do.

And I guess that’s what bothers me, they know what I am, the inheritance didn’t materially change my credit score, which has been around 800 for years, yet every time I have to go through some lie in the finance room.

I get it on a 600 credit score, who may barely be able to afford a car, but I’ve never bought a car I couldn’t afford, and I’ve had to go through this crap in some form every single time there wasn’t a special finance deal like 0% for 60 months or something.

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