Ford Options Deal Structure Estimate

[generaltso]

Thanks for the break down. I was planning on getting Ford options just for the incentive and pay off asap. How soon would I need to wait before I pay it off in full?

There is no minimum time you have to wait. But if the dealer got a kickback on the financing, they may have to pay it back if it's paid off within 90 days. Whether or not that matters to you probably depends on how nice your dealer was.

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[hybrid2bev]

January 4th-31st: Ford Options for 2021 and 2022 models:
Non-GTs best rate 2.49% for 36/48
GTs best rate 1.4% for 36/48

2021 model residuals look to be the same. I didn't capture what the 2022 residuals were before today so I cannot see if they are the same or not.

Edit: Ford Options bonus cash program is still available as well.

 

[Benny’66]

January 4th-31st: Ford Options for 2021 and 2022 models:
Non-GTs best rate 2.49% for 36/48
GTs best rate 1.4% for 36/48

2021 model residuals look to be the same. I didn't capture what the 2022 residuals were before today so I cannot see if they are the same or not.

@hybrid2bev do you know if the incentives carried through as well? $1,000 or $2,500 based on state. Hopefully the NY $2,500 is still intact because my latest delivery on my GTPE is 1/29/22.

 

[yngwenli]

@hybrid2bev do you know if the incentives carried through as well? $1,000 or $2,500 based on state. Hopefully the NY $2,500 is still intact because my latest delivery on my GTPE is 1/29/22.

I checked for CA and I still see $2500 so I assume yes for a random build I tested.

 

[hybrid2bev]

@hybrid2bev do you know if the incentives carried through as well? $1,000 or $2,500 based on state. Hopefully the NY $2,500 is still intact because my latest delivery on my GTPE is 1/29/22.

Yes the bonus cash program is still active as well. (I can only see the specific $ amount for my region.)

 

[nhammerschmidt]

Thanks for the break down. I was planning on getting Ford options just for the incentive and pay off asap. How soon would I need to wait before I pay it off in full?

You can pay it off immediately after the loan books in Ford’s system. Usually a few days. My question is why would you want to? You can find some pretty attractive dividend paying stocks that will yield 8% (AT&T for one). Take the 2.49% and invest the cash where you can get a bigger return on it.

 

[veronicablack]

January 4th-31st: Ford Options for 2021 and 2022 models:
Non-GTs best rate 2.49% for 36/48
GTs best rate 1.4% for 36/48

2021 model residuals look to be the same. I didn't capture what the 2022 residuals were before today so I cannot see if they are the same or not.

Edit: Ford Options bonus cash program is still available as well.

Thanks again for being such a great asset to this forum!

Now let's see if my car with an ETA of 1/30 actually gets here at or before 1/30

 

[Shinichi]

Only until the end of the month? Ruh-roh. I wonder what will happen then. I'm still a few months away.

 

[blahmeh14]

Interesting that it’s only extended until the end of the month instead of the end of the quarter. IMO gives credibility to the rumor that this is a temporary, unplanned extension due to the seat belt recalls and that the bonus cash will be going away for 2022.

 

[Old Guy]

I Apologize if this is already answered. If I do options and immediately pay it off, does the final cost include the interest I would have paid if I borrowed for 36 or 48 (or whatever I choose) amount of months or is just the principle plus some interest from the day I bought it until the day I paid it off. I’m not talking about paying it off after 36 or 48 months.

 

[generaltso]

I Apologize if this is already answered. If I do options and immediately pay it off, does the final cost include the interest I would have paid if I borrowed for 36 or 48 (or whatever I choose) amount of months or is just the principle plus some interest from the day I bought it until the day I paid it off. I’m not talking about paying it off after 36 or 48 months.

You would only pay the small amount of interested accrued since opening the loan.

 

[nhammerschmidt]

January 4th-31st: Ford Options for 2021 and 2022 models:
Non-GTs best rate 2.49% for 36/48
GTs best rate 1.4% for 36/48

2021 model residuals look to be the same. I didn't capture what the 2022 residuals were before today so I cannot see if they are the same or not.

Edit: Ford Options bonus cash program is still available as well.

The residuals appear to be same as I posted yesterday.

 

[Kitten]

January 4th-31st: Ford Options for 2021 and 2022 models:
Non-GTs best rate 2.49% for 36/48
GTs best rate 1.4% for 36/48

2021 model residuals look to be the same. I didn't capture what the 2022 residuals were before today so I cannot see if they are the same or not.

Edit: Ford Options bonus cash program is still available as well.

Can you tell me where you found this? I just spent 3 hours at my dealership and walked away without my car because the Options apr numbers the finance guy was showing me started at like 5.7%! I showed him my printout from the ford finance calculator, which shows 1.4% and he told me that even if he could find 1.4% in his system, he's entitled to tack on an apr market, so the "best he could do" is 2.9%!!!

I told him I needed to see why his numbers don't match mine and he asked me to come back tomorrow after he had a chance to "talk to someone at Ford who can clear this up."

(for reference: Reserved MME GT March, ordered in April, arrived today. I plan to put $0 down with a 36 month term. My credit score should qualify me for the best rates they have to offer, so that can't be the issue. )

 

[Parasmoney]

I have a bit of a background in auto finance, so I wanted to walk through a potential purchase for everyone here using Ford Options.

I have a 2022 Mustang Mach-E Premium ER on order. The MSRP is $57,140, I live in Ohio and my tax rate is 7%

I have X-Plan and my dealer has agreed to sell it at X-plan.

X- Plan Price: $56,272.20
Doc Fee: $100.00
Sales Tax: $1,111.05 (Ohio taxes on the trade difference so I calculated the tax figuring an estimated trade value of $40,500)
License Fee: $35.00 (Transfer plates from current EV.) Ohio charges a $200 per year surcharge for Plug in vehicles.
Subtotal: $57,518.25
Rebates: -$2,750.00 (Ford Options on the calculator for my region shows $2000 in incentives and I have a $750 PCO resulting from the 2021 to 2022 conversion)
Deposit: -$500.00
Total: $54,268.25

For the sake of simplicity I am going to assume no money down. I drive a ton so I am figuring the options payment at 19,500 miles per year. Based on these parameters, the balloon amount is as follows:

36 months: 40% of MSRP ($22,856.00)
48 months: 33% of MSRP ($18,856.20)

At 2.49% APR (what is showing on the calculator for my region) here are the payments:

36 months: $953.89
48 months: $814.99

Ford offers mileage options at 7500, 10500, 12000, 13500, 15000, 16500, 18000, and 19500. Basically for every mileage band you go down from the 19,500 I put above you add 1% to the percentages I put above. So if you chose 36 months and 7500 miles, the balloon % would be 47%.

When a dealership does a Ford Options contract, there should be a spot in their dealer management system that says "balloon amount" The dealership would simply fill the appropriate balloon amount into that field and the payment should calculate for them and print correctly on their contract. In the payment disclosure section it would read something like this:

35 monthly payments of $953.89 beginning on 2/2/2022
1 payment of $22,856.00 due on 3/2/2025

The paperwork is a standard FMCC installment contract there is no special contract for Ford Options. There is an additional addendum that the dealer has to submit that explains the options at the end of the 36 months:

Keep and pay the balloon in full
Refinance (in some states Ford is REQUIRED to refinance the contract on request from the customer)
Turn back into Ford (Subject to mileage overage, + excess wear and tear charges)

I hope this has been helpful for everyone. Please do not get caught up in the APR or rebates. Those vary by region and individual customer (if you have a private offer). Ford, in the past, has offered incentive protection on ordered units so that you got the better of the rebates at the time of order or at the time of delivery. Many of us ordered a 2021 and had them converted to a 2022. I am not sure that incentive protection works across model years, although I think it would be the right thing for Ford to do.

Let me know if you have any questions.

Isn’t x-plan discount supposed to be 2% below msrp/invoice… being that both invoice and msrp are the same for Mach E.?

 

[hybrid2bev]

Can you tell me where you found this? I just spent 3 hours at my dealership and walked away without my car because the Options apr numbers the finance guy was showing me started at like 5.7%! I showed him my printout from the ford finance calculator, which shows 1.4% and he told me that even if he could find 1.4% in his system, he's entitled to tack on an apr market, so the "best he could do" is 2.9%!!!

I told him I needed to see why his numbers don't match mine and he asked me to come back tomorrow after he had a chance to "talk to someone at Ford who can clear this up."

(for reference: Reserved MME GT March, ordered in April, arrived today. I plan to put $0 down with a 36 month term. My credit score should qualify me for the best rates they have to offer, so that can't be the issue. )

I got this from the same place your dealer would find it under the C&I programs (contest and incentives). The dealer’s Ford Credit dealer rep can help them if they are struggling to find the information.

The Ford Options program numbers are listed on the build and price calculator too. These programs are what they should be looking for.

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