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

pr3dict

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Anyone see updates numbers yet for options rate/ incentives? Was going to finance but after reading threads it seems options is the best way to go.
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hybrid2bev

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Anyone see updates numbers yet for options rate/ incentives? Was going to finance but after reading threads it seems options is the best way to go.
The program numbers and rates can be found on the Ford.com Build and Price website. Pretend to order a vehicle and select the calculator in the upper right, click on Ford Options. All non-GTs are the same rates. GTs and GTPE are the same rates.

Or you can use the rates/programs that were available at the time you placed your order, whichever is better.
 
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Kitten

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Dealers padding auto loan interest rates is just another form of ADM. No thanks, I'll take my business elsewhere!

It will be interesting to see what they do in the event the customer brings their own financing to the table...
100% When my dealer couldn't stick it to me anywhere else, he jacked my approved 1.4% interest rate to over 3% and told me I was lucky because it's "standard" for the dealerships to jack it up even more. I was tired of arguing and told him no problem. Let me sign the papers with my $2,000 options incentive and I'll pay off the loan tomorrow for 0% interest (and screw the shitty GM). They called the next day with the "great news" that they were giving me 1.4% after all, even though I'd signed the papers already at the higher interest rate.
 

generaltso

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I also had the same experience. The finance manager said that since I got a “lease”, GAP insurance is automatically covered. I reviewed the docs and it says that I’m the owner so I think it’s fine, but definitely strange.
If you went with Ford Options, it's not a lease and gap insurance is not included.
 

pr3dict

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The program numbers and rates can be found on the Ford.com Build and Price website. Pretend to order a vehicle and select the calculator in the upper right, click on Ford Options. All non-GTs are the same rates. GTs and GTPE are the same rates.

Or you can use the rates/programs that were available at the time you placed your order, whichever is better.
Thank you; appreciate the quick response.
 


yngwenli

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I'm seeing 2.74% for Select (it used to be 2.49%) and 1.4% for GT now for Options extended now to 5/2/2022.
 

Dancefreak

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The program numbers and rates can be found on the Ford.com Build and Price website. Pretend to order a vehicle and select the calculator in the upper right, click on Ford Options. All non-GTs are the same rates. GTs and GTPE are the same rates.

Or you can use the rates/programs that were available at the time you placed your order, whichever is better.
Do you know if the options residuals changed at all from Q1?
 

GoGoGadgetMachE

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Another thing I noticed is that all dealers refer to Ford Options as 'lease'.
Not all.
I also had the same experience. The finance manager said that since I got a “lease”, GAP insurance is automatically covered. I reviewed the docs and it says that I’m the owner so I think it’s fine, but definitely strange.
As @generaltso said, GAP is not included. However, check with your auto insurance company; they very likely offer it as an option and for a small amount of money. (This has been discussed in previous threads so this is a known thing.) Just remember to pull it back off when it's not needed any longer.
 

ridgebackpilot

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As @generaltso said, GAP is not included. However, check with your auto insurance company; they very likely offer it as an option and for a small amount of money. (This has been discussed in previous threads so this is a known thing.) Just remember to pull it back off when it's not needed any longer.
When I signed an Options contract for my 2022 MME Premium last week, I negotiated and purchased GAP insurance as part of the deal. The cost was factored into the contract.

My insurance company (State Farm) no longer offers GAP insurance. It's impossible to buy independent GAP, so I had no choice but to purchase it from Ford.

Many dealers start by asking $800-$900 or more for GAP, but the cost can be negotiated down to half of that. However, don't forget you have to purchase it at the same time as the vehicle; it can't be added later.
 
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GoGoGadgetMachE

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When I signed an Options contract for my 2022 MME Premium last week, I negotiated and purchased GAP insurance as part of the deal. The cost was factored into the contract.

My insurance company (State Farm) no longer offers GAP insurance. It's impossible to buy independent GAP, so I had no choice but to purchase it from Ford.

Many dealers start by asking $800-$900 or more for GAP, but the cost can be negotiated down to half of that. However, don't forget you have to purchase it at the same time as the vehicle; it can't be added later.
that's all completely fair and sharing your experience is useful to others on the forum.

two takeaways:
  1. you had to pay for it as an add-on, which matches the statement that it's not included for free with Ford Options (whereas with a Red Carpet Lease, it's included. I'm guessing what you purchased as an extra add-on was "GAPCoverage".
  2. State Farm not offering it is absolutely bizarre since it's for the most part free money for them, even more so than regular car insurance, but it's their choice. I'm sure someone got a nice bonus for deciding to drop it. It's the kind of thing a potential buyer needs to ask about before going in to the dealer, though, if only so they can do a price comparison. (Even at $400, I'd be paying Ford Credit a lot more than what I'm paying my auto insurance company for the same feature, which is under $40/6 months, so (12 months/year / 6 months in a term) x (3 years for Options) x ($34 per term) =$204.)
 

ridgebackpilot

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that's all completely fair and sharing your experience is useful to others on the forum.

two takeaways:
  1. you had to pay for it as an add-on, which matches the statement that it's not included for free with Ford Options (whereas with a Red Carpet Lease, it's included. I'm guessing what you purchased as an extra add-on was "GAPCoverage".
  2. State Farm not offering it is absolutely bizarre since it's for the most part free money for them, even more so than regular car insurance, but it's their choice. I'm sure someone got a nice bonus for deciding to drop it. It's the kind of thing a potential buyer needs to ask about before going in to the dealer, though, if only so they can do a price comparison. (Even at $400, I'd be paying Ford Credit a lot more than what I'm paying my auto insurance company for the same feature, which is under $40/6 months, so (12 months/year / 6 months in a term) x (3 years for Options) x ($34 per term) =$204.)
When I bought my Tesla Model 3 in 2020, Navy Federal Credit Union offered me GAP coverage as part of my auto loan. As I recall, it was either free as part of the loan or quite inexpensive to add.
 

NJ_MachE

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Does Ford have a calculator to model out various Ford Options scenarios without having to pretend to build a new vehicle? Asking because if the order banks close tomorrow, that removes the only way I currently know about. And that way is already not ideal because rates and prices have changed since the order date.
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