Current State Of Ford Options?

[ChuckA]

I realized I wanted to try one more time. Let’s ignore credit scores.

I looked just now and there was nothing stating the Ford Options rate that I could find with a Google search. It’s only listed at 5% on the purchase site, nowhere else that I could find..

This will cause several unintended consequences.

• People will ignore it as an option thinking the rate is too high.
• If it advantages the finance person in some way they will set higher rates. You won’t know the actual rate is 2.25% so you’ll either decline or pay a higher rate than you had to. Hopefully, this is out of the finance guys hands.
• if you can’t know the rate, you can’t calculate the payment accurately leading to distrust and games.

Transparency is always good. Unfortunately, I wish I could trust the finance guy but I just don’t.

And by the time some of us get these, interest may really be 5% too.

If the paperwork looks like a lease, with a large final payment, but shows you as the owner and title holder, it’s Ford Options. If it shows any other title holder, it’s not Ford Options. Don’t get confused between title holder and lien holder. Ford Credit is lien holder for Options.

Can’t answer the interest question. I closed in August in CT at 2.25%. Got $2600 rebate.

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[yngwenli]

For Ford Options, can you select that even when you won't be getting the car in six months? Won't interest rates change?

 

[macchiaz-o]

For Ford Options, can you select that even when you won't be getting the car in six months? Won't interest rates change?

You don't arrange financing until the car arrives. What's offered now doesn't really matter... Except to give you an idea of what sorts of options you might expect when you are ready to purchase the vehicle and drive it home.

 

[jgillmer]

Anyone know what the minimum down money is required for Ford Options beyond the $500 deposit?

 

[ChuckA]

Anyone know what the minimum down money is required for Ford Options beyond the $500 deposit?

I heard there is a 50% maximum but didn’t see a minimum. I put $7300 down on a $60,000 Premium AWD ER ($57,000 + tax). Ask the finance guy the question. Maybe it will depend on how much monthly payment will get approved in their debt to income formulas.

if I had put down $500 on the 36 month deal, the final payment was $23,700 and monthly payment would be $1,020. In your calculation assume this as residual for 36 months and $22,500 for 48 months.

 

[jgillmer]

I heard there is a 50% maximum but didn’t see a minimum. I put $7300 down on a $60,000 Premium AWD ER ($57,000 + tax). Ask the finance guy the question. Maybe it will depend on how much monthly payment will get approved in their debt to income formulas.

Thanks! I can't decide if I would rather trade in my Honda Clarity PHEV and drop a big down with a lower payment or keep it and service a larger monthly. Your response helps a bunch!

 

[macchiaz-o]

Anyone know what the minimum down money is required for Ford Options beyond the $500 deposit?

I heard there is a 50% maximum but didn’t see a minimum. I put $7300 down on a $60,000 Premium AWD ER ($57,000 + tax). Ask the finance guy the question. Maybe it will depend on how much monthly payment will get approved in their debt to income formulas.

Minimum down is $0, I believe. The maximum down for Ford Options is currently set to 45%. As with everything in lending, these limits are subject to change and might also be subject to individual credit risk.

 

[ChuckA]

Thanks! I can't decide if I would rather trade in my Honda Clarity PHEV and drop a big down with a lower payment or keep it and service a larger monthly. Your response helps a bunch!

My $7,300 down was a $1,000 deposit and a $6,300 trade-in. My monthly payment is $822 on $50,000 financed for 36 months. 36th payment is $23,700. If you can afford the high monthly payment, invest your cash in Ford stock.

 

[jgillmer]

My $7,300 down was a $1,000 deposit and a $6,300 trade-in. My monthly payment is $822 on $50,000 financed for 36 months. 36th payment is $23,700. If you can afford the high monthly payment, invest your cash in Ford stock.

That's where I'm leaning (less down and put that down money to work else where at a greater than 1.4% rate).

 

[sotek2345]

Looks like the rebates and interest rates have been updated on Ford's website. I am getting 2.7% and $2,500 off for a GT in NY

 

[jgillmer]

Looks like the rebates and interest rates have been updated on Ford's website. I am getting 2.7% and $2,500 off for a GT in NY

Can you check with the finance people at your dealership to see what the program numbers are for APR and the incentive?

 

[sotek2345]

Can you check with the finance people at your dealership to see what the program numbers are for APR and the incentive?

Sorry haven't gotten to know the finance people yet.

 

[jgillmer]

Looks like the rebates and interest rates have been updated on Ford's website. I am getting 2.7% and $2,500 off for a GT in NY

From Hybrid2BEV, tell them to look here in their system:

Tell the dealer to look here for the current information:

Rates and programs:
FMC Dealer >> Sales >> Contest & Incentives

Ford Options:
FMC Dealer >> Finance >> Consumer Finance Programs >> Ford Options

 

[RMoore]

Looks like the rebates and interest rates have been updated on Ford's website. I am getting 2.7% and $2,500 off for a GT in NY

Same for a premium in NJ.

 

[Davedough]

Looks like the rebates and interest rates have been updated on Ford's website. I am getting 2.7% and $2,500 off for a GT in NY

I believe those rates are for 2022 models. I’ve seen it discussed that the 2021s are still subject to 2.25% for Premiums and 1.4% for GT

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