Ford Options Contract-End Information

[phidauex]

If you trade in… it’s just like a normal financial transaction. No inspection, no mileage or damage charges.

The valuation is market value based, not balloon value.

You can trade at any time.

Thanks for the clarification, I suppose it could be good or bad depending on the current trade valuations, and whether they are coming in above or below $25k for 2021 Premium ERs.

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[bshaw]

Thanks for the clarification, I suppose it could be good or bad depending on the current trade valuations, and whether they are coming in above or below $25k for 2021 Premium ERs.

Jump on cargurus.com to see what Mach e used are selling for in your area. When I closed my options agreement, my balloon was still less than what I could have sold for. Trade of course, is always a little less than private sale value.

 

[lakersfan]

If you trade in… it’s just like a normal financial transaction. No inspection, no mileage or damage charges.

The valuation is market value based, not balloon value.

You can trade at any time.

Are you saying you can trade the car in prior to the balloon payment date?

 

[PNWEV]

Are you saying you can trade the car in prior to the balloon payment date?

Yes. You can also sell it at anytime.

 

[lakersfan]

Yes. You can also sell it at anytime.

Thanks. With this 0% APR deal going on I think it might make sense to trade it in and get a newer model

 

[PNWEV]

Thanks. With this 0% APR deal going on I think it might make sense to trade it in and get a newer model

It’s not going to hurt to look. Just get quotes from carvana or the like and blue book it to see about where you are sitting. Last time I bought with a trade in I did my research and said to myself, “if they offer me x amount on the trade in I will buy the car.” They did and I immediately bought it.

 

[UnforAll]

Cross-posted from "Financing Balloon after Ford Options" thread

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.

 

[Graction]

I took Option 1 and traded in my 22 GT for a 24 GT back in Feb 25. Now I received a registration renewal application for my old car. So it seems that the NJ MVC still thinks the title and registration is in my name? I called the dealership and they said they just give the car to Ford and don't do any title or registration transfer. Anyone know if that is correct or should they have transferred the title? I have no idea where the car is now.

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