Financing Balloon after Ford Options

[carbonizedbrett]

Did you do the inspection to turn the car in or are you keeping it? This post reads like you're waiting for the contract but then the 2nd paragraph makes it sound like maybe not?

Sorry, yes, I'm waiting for the contract but I'm 99.999% sure I will be turning the car in.

When I first requested the information, I was still on the fence. But things took a bit of a turn on April 1st. https://www.macheforum.com/site/thr...rain-software-issue.35324/page-17#post-810620

So why did I follow through on getting the refi information?

• I was curious what the rate would be - and also wanted to see if Ford would negotiate on the balloon / buy-out price. (Because after April 1st, my car was worth substantially less than the balloon, at least in trade.) They will not negotiate, btw.
• It was "the principle of the thing" - the Ford Contract End Guide outlined how things were supposed to work and I kind of wanted to actually make them do those things. If FordCredit gets better at communicating with Options customers and stops giving inconsistent information as a result of anything I've done, I'll count that as a win.
• I have a tough time letting some things ago and can be a bit of a masochist.
• Side benefit: I learned there's a grace period and will keep the car until I get the contract and then "make my decision." A few extra days and miles on it won't make up for all the time I was without my car, but I'll feel a little better. Also, my NACS adapter is supposed to ship in "June" and I figured it wouldn't hurt to still own my car while it's still due to ship.

If I had known the dealer would take 17 days to do 5-6 days of recall work - not even considering the accident they had with it and how much additional time that cost me - I would not have done the recalls at all. Counting the dealer-handled collision repair, I was without the car for over 7 weeks. And I jumped the gun leasing its replacement - I probably would have saved $5-7k if I had waited until late May or early June to least my GV60P.

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[yngwenli]

Anyone done the numbers for replacing their options car with a new/leased one? I see that they have a cap cost reduction of $7500 for 2024 models.

Ours isn't due back till 2026, but I want a LFP one if I could switch. I suppose in 2026, maybe they will be using parts from T3/next gen more.

If someone wanted this, what numbers should they look for? Or, maybe we will just look at Macan EVs (used or new).

 

[luckie]

Anyone done the numbers for replacing their options car with a new/leased one? I see that they have a cap cost reduction of $7500 for 2024 models.

Ours isn't due back till 2026, but I want a LFP one if I could switch. I suppose in 2026, maybe they will be using parts from T3/next gen more.

If someone wanted this, what numbers should they look for? Or, maybe we will just look at Macan EVs (used or new).

I'm curious as to why you'd like a LFP battery, I'm trying to avoid one due to poor performance in the cold temperatures. Are you thinking that the LFP would be good if you purchased the car with the expectation of keeping it longterm?

(the tone of this question is "curiosity" hope may learn something I didn't know)

 

[Deleted member 19354]

Anyone refinance the Ford Options balloon payment through Ford Credit? What is your interest rate?

In my contract (in CT), it reads like the interest rate will change but the payment amount stays the same. This makes the refinanced term less then 36 months.

I was fortunate to get 0% at 60mo I think

 

[yngwenli]

I'm curious as to why you'd like a LFP battery, I'm trying to avoid one due to poor performance in the cold temperatures. Are you thinking that the LFP would be good if you purchased the car with the expectation of keeping it longterm?

(the tone of this question is "curiosity" hope may learn something I didn't know)

I am in hot CA so cold temperatures are not really a thing here. I can also leave it at 100% state of charge increasing my general starting range vs. 80% that I leave the Mach-E at now. Not that it's really been a concern though. LFP is also generally "safer" chemistry for more peace of mind from what I've read before.

I'm sure the risk is minimal, but there were those Bolt fires and you occasionally see EV fires. I'm not looking for a ER neither so having a SR at 100% LFP range is similar to 80% ER range.

This article says it charges faster as well (but is slower, probably due to weight/density):
https://insideevs.com/news/681730/ford-mache-rwd-lfp-epa-rating/

 

[UnforAll]

Process completed. Loan rewritten for 36 months at original rate (2.25%). Monthly payment amount remains the same -- or whatever is required to pay off the balloon in that time.
As others have noted, Ford Credit insisted on waiting to calculate the new payment and write the new contract until the actual last day of the original contract (although the original contract clearly gives the balloon amount due), but it worked out that I had therefore got two months without a payment due so I'm okay with their weird approach.

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