"Ford Options" Mach-E Lease vs standard lease - similarities and differences

macchiaz-o

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My rate is $85 a month and 24k owed, so mine will be roughly 282 payments?. Doesn’t make sense
It must be set up to be fully paid in 36 months or less. This is in our contract terms. (Read the backside.)
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Tried to find someone in the same situation or that’s at the end - I’m coming up on the end of my ford option and cant seem to find any information on how early I can turn the keys over to get into a new ford and satisfy the balloon.

Mach e balloon 24k
Mach e worth 21k

ford site suggest just transferring ownership to ford satisfies the balloon(aside from any mileage, wear and tear issues, and waived fee if getting into new ford)

I am trying to get into an f150 lightning and one dealer wanted to treat it as a lease where I’d owe 3k. Anyone know if the ford option ownership can be transferred before the 36th month? Has anyone experienced it yet or will I be one of the first to go down this road?

Had I applied the tax credit I’d be ahead 3500 but since the option suggest you just turn it over and any net loss is satisfied , felt I didn’t need too.
 

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Also I’d like to add - another thing I thought about. The ford Mach e qualifies for a 4k tax credit if bought used and sells under 25k…. If you were to stay with the Mach e, wouldn’t it be better to transfer ownership back to ford then rebuy the same vehicle as a used Mach e to get the 4k tax credit(pending rates don’t negate the credit)
 

ChuckA

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Also I’d like to add - another thing I thought about. The ford Mach e qualifies for a 4k tax credit if bought used and sells under 25k…. If you were to stay with the Mach e, wouldn’t it be better to transfer ownership back to ford then rebuy the same vehicle as a used Mach e to get the 4k tax credit(pending rates don’t negate the credit)
Maybe IRS would frown on allowing both the $7500 and $4000 tax credits on the same vin to the same taxpayer. Sounds like fraud. You’d have to buy a different vehicle, I would guess.
 

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Maybe IRS would frown on allowing both the $7500 and $4000 tax credits on the same vin to the same taxpayer. Sounds like fraud. You’d have to buy a different vehicle, I would guess.
Well under the new law the credit goes to the dealer and is passed to the consumer via a rebate. When I was pricing the Lightning - the $7500 was going as a rebate as the dealer is getting the payment, the buyer just has to verify they meet the requirements at tax year or they have to pay it back.
By that logic it wouldn’t be tax credits to same taxpayer - rather one to tax payer (due to ford option) and one to dealer. Granted I won’t be getting the Mach e just found it interesting when I was talking to the dealer regarding the new way they are handling the credits.
 

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A bit longer, due to the 2.25% interest that will continue to accrue. Mine will be roughly 26 months to pay $20,855 plus interest at $794.xx per month.

...

I haven't been given this instruction, yet. I need to call them to check status mid-next week though.
I was finally able to reach a credit analyst at Ford Credit who could reschedule my lump sum balloon amount. This happened today, just 5 days away from month 36's payment due date. I made at least 12 calls to Ford Credit since early January. :( If I'd know that up front, I probably would've just paid the balloon as this was too big of a time sink for me.

The new loan terms are different than what I was originally told but it's equally good if not better. Specific terms apparently vary by locale.

For me, the balloon payment was converted into 36 new payments of $598.45 (payment #36 is slightly less), which is at the same 2.25% rate as my original loan. I have a verbal agreement with Ford Credit and no new paper trail. However, after the analyst completed the loan modification this afternoon, she left me a voicemail and I was able to go to the payments page on ford.com and see the new details.
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