Ford Options is a a cluster...

dtbaker61

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No. You cannot claim the federal tax credit on RCL because you are not the owner (Ford Credit is the owner).
what are you basing this statement on?
I would think that you (we) are the 'owner' regardless of what financing instrument is chosen... the lender HOLDs the title as collateral, but the vehicle is titled in (our) names. Just like a Home Mortgage, or Solar, or any other asset that has tax credits or depreciation; you are the 'owner' regardless of how it is Financed as far as I know.

Thus, eligible for tax credits.... unless you have specific tax code stating otherwise you can share?





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buffasnow

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[QUOTE
what are you basing this statement on?
I would think that you (we) are the 'owner' regardless of what financing instrument is chosen... the lender HOLDs the title as collateral, but the vehicle is titled in (our) names. Just like a Home Mortgage, or Solar, or any other asset that has tax credits or depreciation; you are the 'owner' regardless of how it is Financed as far as I know.

Thus, eligible for tax credits.... unless you have specific tax code stating otherwise you can share?
Um, RCL = Red Carpet Lease.
 

MTNestr

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what are you basing this statement on?
I would think that you (we) are the 'owner' regardless of what financing instrument is chosen... the lender HOLDs the title as collateral, but the vehicle is titled in (our) names. Just like a Home Mortgage, or Solar, or any other asset that has tax credits or depreciation; you are the 'owner' regardless of how it is Financed as far as I know.

Thus, eligible for tax credits.... unless you have specific tax code stating otherwise you can share?

I was told that you do not hold the title - the leasing company does. You are renting the vehicle. Just like when you rent a home or apartment the deed is not in your name. That’s why Ford started the Ford Options plan.
 

dtbaker61

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[QUOTE


Um, RCL = Red Carpet Lease.
oh, Lease, yes that's different....
I thought this thread was about 'Options' loan, not a Lease program up front

The Options program that my Dealer presented was a 48mo Loan, with ballon at the end, which you could convert to various other programs to pay off the balloon. I did not like the idea of re-financing at 48 at some (probably MUCH higher) rate.

best fixed 60mo rate from my Bank was 2.25%
60mo from Ford Credit was 1.9%, so I went with that
 

GoGoGadgetMachE

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oh, Lease, yes that's different....
I thought this thread was about 'Options' loan, not a Lease program up front

The Options program that my Dealer presented was a 48mo Loan, with ballon at the end, which you could convert to various other programs to pay off the balloon. I did not like the idea of re-financing at 48 at some (probably MUCH higher) rate.

best fixed 60mo rate from my Bank was 2.25%
60mo from Ford Credit was 1.9%, so I went with that
it's too late now but Options guarantees refinancing at the original rate if you choose. it's been discussed in other Options threads, of which there are approximately 99193988808.
 

Stang68

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I wanted the same... In my case the dealer marked up the options rate 2.5%... and when I mentioned the online buying process, they told me they wish they had the online process ready now, as they can dictate a rate and the buyer won't have the ability to negotiate...
The dealer was able to mark up the Options rate? Isn't it just directly from Ford Credit?
 

jhalkias

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what are you basing this statement on?
I would think that you (we) are the 'owner' regardless of what financing instrument is chosen... the lender HOLDs the title as collateral, but the vehicle is titled in (our) names. Just like a Home Mortgage, or Solar, or any other asset that has tax credits or depreciation; you are the 'owner' regardless of how it is Financed as far as I know.

Thus, eligible for tax credits.... unless you have specific tax code stating otherwise you can share?
In a lease, the leasing company is the owner and is on the title. Like leasing an apartment. You don’t own it when you sign a lease.
 

eltonlin

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The dealer was able to mark up the Options rate? Isn't it just directly from Ford Credit?
Yeah that's what I thought as well! "Sponsored rate" was what it was referred to on the website (which I pointed out to the dealer). But looking at the fact sheet, it appears that the dealer does have the right/ability to mark up as they see fit... Challenge there is that the rates are clearly available online (and in this forum); took me 1.5 hours to get rate back down to 2.25%.
 

Mirak

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"disaster"? really?

that's quite exaggerated.
I don’t think it is. How many June 2020 reservations still don’t have build dates, let alone deliveries? How many cars are taking months to get from the factory to dealerships? How many dealerships haven’t even gotten a test car yet? How many dealers have NO IDEA what Ford Options is? The answer to all of these questions is: “a lot.” Oh and I haven’t started with software bugs, battery issues, and charging issues - none of which can even be fixed with those magical “OTA updates” that haven’t materialized yet. We’re now almost halfway into the 2021 model year. 50,000 deliveries huh? Anybody think Ford will achieve more than maybe half that?

I’d call that a disaster. Maybe “mess” is a nicer description?
 

buffasnow

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oh, Lease, yes that's different....
I thought this thread was about 'Options' loan, not a Lease program up front
Yes, the thread title refers to options, but in this forum, we know that all bets are off for any subsequent posts, right? ;)

In this case, though, hybrid was responding to a direct question about RCL and the tax credit.

OK, back to the melee....... 😁
 

prdude

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At least you got your dealer to look at your trade. I asked mine for an estimated trade-in value, and he just said it will be much less than I want for it because there's a huge glut of used cars on the market right now. Huh? The wouldn't even look at it. I brought to a couple of other non-Ford dealers and they gave me prices for a cash purchase. But the best price was from Vroom, so I think I'll just do that.
There is actually a shortage of used cars in the market right now
 

MachE2021

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So I went in to my local Ford dealer who is rated 4.5 out of 5 stars on Ford's website and they had never heard of Ford Options. I did a deal on a Mach E yesterday, and they were willing to rip up our financing through their bank (not Ford Credit) if Options turned out to be a better deal. I was satisfied with the deal we came to with their financing so, no skin off my nose. And with that in mind they were going to call Ford and find out what Options was, and how they were supposed to do it

But, today after they called Ford either Ford is sandbagging or this dealer is trying to sand bag me. Without taxes, of course, a Ford Options quote on Ford's website comes out to $602 with my configured mileage and Mach E options with a 2.28% rate. The guy at the dealership is quoting me, after taxes, over $870 because "the lowest, best possible rate is over 5%"

Are people actually getting 2.28% with Ford options? Is this dealer just BSing me to keep me with his preferred lender?
I got a 2.25% rate, although my credit score was an 840 with a very low debt to income ratio.
 

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