Ford Options Deal Structure Estimate

[Kitten]

Thank you. I had printed out that exact page on the day I placed my order (april 2021; 1.9% apr and $2,500 cash program) and again today when I went in to pick up my car (1.4% apr and $1,000 cash). They asked me "where did you get that? We can't find anything like that!" I pulled up the build and price calculator on my phone and showed them. Then they said, well we can't find it in our system. I will mention tomorrow when I go back to look in the C&I programs. Is tacking on add'l apr normal or should I push back on that?

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[macchiaz-o]

Is tacking on add'l apr normal or should I push back on that?

It's permitted for the dealer to do that, but I've been on the forum a "long time" and have only noticed folks mentioning that they paid a tack on rate like that a handful of times at most.

I would recommend figuring out other options besides Ford Options, so that you maintain some control over the situation in case you are only offered lousy choices from the finance person. For example, if you can pay cash, that's an option. If you can get financing from an outside bank, that's another option, etc.

 

[Kitten]

It's permitted for the dealer to do that, but I've been on the forum a "long time" and have only noticed folks mentioning that they paid a tack on rate like that a handful of times at most.

I would recommend figuring out other options besides Ford Options, so that you maintain some control over the situation in case you are only offered lousy choices from the finance person. For example, if you can pay cash, that's an option. If you can get financing from an outside bank, that's another option, etc.

Thank you. I feel like at this point I'm digging in my heels on the Options plan bc I'm pissed at the finance guy. I'm thinking I'll see if he'll honor the $2,500 options incentive from when I placed my order, accept whatever interest rate he wants to put on it, and then just pay off the loan as soon as it hits Ford Credit's system. Pretty much the same as buying, but I'll get that bit of incentive.

 

[macchiaz-o]

Thank you. I feel like at this point I'm digging in my heels on the Options plan bc I'm pissed at the finance guy. I'm thinking I'll see if he'll honor the $2,500 options incentive from when I placed my order, accept whatever interest rate he wants to put on it, and then just pay off the loan as soon as it hits Ford Credit's system. Pretty much the same as buying, but I'll get that bit of incentive.

Yep, that works, too.

Ford Credit will set up your loan number pretty quickly. I was able to get my loan number by calling the toll free number listed on the loan application paperwork. The automated system read it to me. With that info, I was able to associate the loan with my ford.com account and this let me see the payoff amount and the payment mailing address.

I didn't pay off the loan (I'm paying per the monthly schedule), but from what I've seen here, you would not be alone in paying it off within the first month.

 

[RickMachE]

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.

Why? If you could get a better rate somewhere else.

2.49% from Ford. PenFed right now is 1.79% for 36 months, and 1.99% for 48 months. Also 1.99% for 60 months. While you lose the balloon feature, and the ability to turn it in at that point, you'd save money.

I don't see any discussion of the best rate for simple Ford financing. When I bought my 2021 in July, Ford Options was 1.4% and $1,000 back. Loan was 0.9%. I took the loan. When my 2022 comes in (scheduled to be made this week), I'll have to see what makes the most sense.

 

[nhammerschmidt]

Why? If you could get a better rate somewhere else.

2.49% from Ford. PenFed right now is 1.79% for 36 months, and 1.99% for 48 months. Also 1.99% for 60 months. While you lose the balloon feature, and the ability to turn it in at that point, you'd save money.

I don't see any discussion of the best rate for simple Ford financing. When I bought my 2021 in July, Ford Options was 1.4% and $1,000 back. Loan was 0.9%. I took the loan. When my 2022 comes in (scheduled to be made this week), I'll have to see what makes the most sense.

I will most likely just stick with the options plan. The difference between 1.99 and 2.49 over 36 or 48 months isn’t worth the hassle in my mind. Plus FMCC has excellent customer service and sometimes offers loyalty incentives on future purchases.



Sometimes on high demand vehicles, dealers will demand that you pay a marked up interest rate so that they can make extra money. If this results in a better price on the car, I always take the higher rate and then immediately refinance with either Capital One or my Credit Union.

 

[RickMachE]

I will most likely just stick with the options plan. The difference between 1.99 and 2.49 over 36 or 48 months isn’t worth the hassle in my mind. Plus FMCC has excellent customer service and sometimes offers loyalty incentives on future purchases

Understand. I was faced with 2.25 on Options (not 1.4 like I typed here), vs. 0.9%. In your case, it's $500 or so over 4 years.

When my 2022 comes in, and I'm faced with giving up my 0.9% loan on my 2021 and paying 2.49% on a 2022, then it will be interesting to see what the regular loan is.

 

[nhammerschmidt]

Thank you. I had printed out that exact page on the day I placed my order (april 2021; 1.9% apr and $2,500 cash program) and again today when I went in to pick up my car (1.4% apr and $1,000 cash). They asked me "where did you get that? We can't find anything like that!" I pulled up the build and price calculator on my phone and showed them. Then they said, well we can't find it in our system. I will mention tomorrow when I go back to look in the C&I programs. Is tacking on add'l apr normal or should I push back on that?

The dealer has to select the "options" transaction type in VINCENT to see the options programs. Tell the dealer this is in the same spot that they select from Retail or Lease on the customer information screen. Once of the choices for the Mach-E will be "options'

 

[ckt]

Can I complete the Ford options paperwork prior to delivery? I really want the $2500 bonus cash and lock that in before it expires, but my car is due to arrive 1/28-2/3.

I made a deposit over the phone after doing an Ford inventory search last week.

 

[macchiaz-o]

Can I complete the Ford options paperwork prior to delivery? I really want the $2500 bonus cash and lock that in before it expires, but my car is due to arrive 1/28-2/3.

I made a deposit over the phone after doing an Ford inventory search last week.

No. You need an asset to get the loan against.

 

[Epps]

Sorry if this has been answered before, but where are people seeing the $2500 in bonus cash? And would that apply in the metro Detroit area?

Thanks!

 

[hybrid2bev]

Can I complete the Ford options paperwork prior to delivery? I really want the $2500 bonus cash and lock that in before it expires, but my car is due to arrive 1/28-2/3.

I made a deposit over the phone after doing an Ford inventory search last week.

No. It's not necessary either.

The dealer can lock in your incentives on custom orders (or it happens automatically, I can't remember). When the vehicle arrives you'll get the choice of the incentives that were in place at time of order or what is currently available.

 

[hybrid2bev]

Sorry if this has been answered before, but where are people seeing the $2500 in bonus cash? And would that apply in the metro Detroit area?

Thanks!

The higher bonus cash is mostly around the ZEV markets (varies by zip code). Detroit/Michigan is $1,000 Ford Options Bonus Cash.

Go into the Ford Build and Price website and select a dealer that is closest to you. Click on the financing calculator and you'll see the incentives for that area.

 

[Epps]

The higher bonus cash is mostly around the ZEV markets (varies by zip code). Detroit/Michigan is $1,000 Ford Options Bonus Cash.

Go into the Ford Build and Price website and select a dealer that is closest to you. Click on the financing calculator and you'll see the incentives for that area.

Awesome thank you!

 

[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.

Ford Options Programs now extended through Feb 28th, 2022.

#21312 - Ford Options APR (for 36/48 terms)
Non-GTs best rate 2.49%
GTs best rate 1.4%

Bonus cash #14052 - Ford Options Retail Bonus Cash

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