Ford Option financing question

[timbop]

Does anybody see much advantage to Options if you are in a $1000 geographical area?

Yes, this:

Depends what your goal is. Options gives you a guaranteed buy out price if values plummet.

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[BMT1071]

Does anybody see much advantage to Options if you are in a $1000 geographical area?

Unless you are comfortable with the payment that comes along with the 48 month 0.9% APR, using Options is the way to go.

 

[Woeo]

Does anybody see much advantage to Options if you are in a $1000 geographical area?

The $1,000 will roughly cover the difference in interest charged at 2.25% over three years compared to what you would pay in interest at .9% [straight financing Ford offers for good credit] over 3 years. Monthly payment is much higher with straight financing, but you own the car. Lower payment with Options & you can turn it back to Ford. However the actual interest expense will be about the same.

 

[buffasnow]

Do you know what the interest rate was on the Options plan when you did it?

My options rate was 2.25%

 

[Mickey the T]

Exactly. I did Options mainly because I wanted to be able to hand it back after 3 years without worrying about resale value, plus I still got the $7500 federal tax credit. There is literally no other vehicle you can buy right now to own for just 3 years like a lease but still get the tax credit all to yourself. The $1000 or $2500 offer with Options was just gravy IMO.

I'm not so sure about that. I've leased two BMW i3s and they give you a $7500 cap cost reduction for the federal tax credit on the lease. Essentially, BMWFS gets the tax credit and passes that back to you. Since that was my only EV leasing experience, I was actually surprised that Ford didn't do it that way and had the Options program instead.

Personally, I prefer the way BMW does it, but I will do Options for exactly the reason you mentioned--being able to hand back the car if I choose to in three years.

 

[timbop]

I'm not so sure about that. I've leased two BMW i3s and they give you a $7500 cap cost reduction for the federal tax credit on the lease. Essentially, BMWFS gets the tax credit and passes that back to you. Since that was my only EV leasing experience, I was actually surprised that Ford didn't do it that way and had the Options program instead.

Personally, I prefer the way BMW does it, but I will do Options for exactly the reason you mentioned--being able to hand back the car if I choose to in three years.

The point's been belabored ad nauseum for at least a year, so please just accept that's the way it is and move on.

 

[Mickey the T]

The point's been belabored ad nauseum for at least a year, so please just accept that's the way it is and move on.

Sorry that I've missed the last years of posts on this topic and bringing it up got under your grill!

 

[macchiaz-o]

Sorry that I've missed the last years of posts on this topic and bringing it up got under your grill!

Many of us are scarred for life. *

Some of the worst offenders scuttled off to the other "club" or elsewhere.

* Or for a few minutes here and there, whichever is shorter.

 

[timbop]

Sorry that I've missed the last years of posts on this topic and bringing it up got under your grill!

If you're a baseball fan, it's like bringing up the DH!

 

[Mickey the T]

If you're a baseball fan, it's like bringing up the DH!

I am a baseball fan, so I appreciate that context. (And as a NL guy, I've always been sort of against the DH. But after watching it in the NL during last season, I must admit I sort of grew to like it.)

Now back to our regular programming...

 

[timbop]

I am a baseball fan, so I appreciate that context. (And as a NL guy, I've always been sort of against the DH. But after watching it in the NL during last season, I must admit I sort of grew to like it.)

Now back to our regular programming...

No worries, BTW - I just could see the train coming down the tracks and wanted to stop it before it built up momentum.

And having pitchers bat as major leaguers for the first time since they were in high school is a crazy bad idea ?

Wait, never mind .. I don't want to start a different unwinnable war..

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