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

mamejunkie

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I plan to keep the car longer than 4 years.

The easy way to figure this out (what I plan to do!), and with the most accurate and current numbers, is to make this decision at the dealership while purchasing the car.

The disclosure forms for financing (whether traditional or Ford Options) should indicate the total cost paid for the entire term of the loan.

Use those numbers to get your total out the door cost including the sum of all loan payments and balloon payment.

I will also look at my total cost to get financing (traditional or Ford Options) and make just a couple of payments on it and pay the rest as cash (or a bank auto loan) after those first few payments.

This can be worthwhile depending on manufacturer incentives.
Didn't know they will provide that level of details. I normally just pay cash but so much other expenses want to finance it. 0.9% is much better than the banks. And if Ford Option is lower with the incentive, may consider that also. Just want to be prepared and not get caught off guard by the slimy car dealership closer finance guy.
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macchiaz-o

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Didn't know they will provide that level of details. I normally just pay cash but so much other expenses want to finance it. 0.9% is much better than the banks. And if Ford Option is lower with the incentive, may consider that also. Just want to be prepared and not get caught off guard by the slimy car dealership closer finance guy.
Yeah totally... Worst case I won't finance and will forgo a (probably small) incentive.

Best case I'll be clear headed and will bring my eyeglasses and read the forms... Use the calculator on my phone or pencil and paper, and will decide accordingly. :)

Think about it this way: people complain about sitting in dealerships for hours to complete a transaction... So don't let THEM make you feel rushed! They literally have nothing else going other than finishing your sale. So take your time. ;)
 

trutolife27

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Here you go. Blow this video up with leasing questions. He asked for it. A lot of you want to know. Hybrid has spoken what he can. Here is someone asking for comments ask away.


he is waiting for your lease questions seems like he knows sales. Why not get your answers? maybe he knows something we don;t know about it.?
 


macchiaz-o

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he is waiting for your lease questions seems like he knows sales. Why not get your answers? maybe he knows something we don;t know about it.?
I don't have any lease questions for him (or anyone, at this time).

I'm surprised that I'm the only one to Like his video though.

I'm assuming he's a salesperson? They have a lot to memorize and even get tested on some stuff. The idea of practicing his facts on video is a good way to self promote, too. Nice job.
 

eltonlin

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I don't have any lease questions for him (or anyone, at this time).

I'm surprised that I'm the only one to Like his video though.

I'm assuming he's a salesperson? They have a lot to memorize and even get tested on some stuff. The idea of practicing his facts on video is a good way to self promote, too. Nice job.
He needs a mach-e shirt that's for sure. The nike swoosh was a bit distracting for me. :)
 

kdryden99

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I just saw this on Ford.com. https://www.ford.com/finance/finance-options/ford-options. They indicate that there is an 84 month option gor the finance. Here in Canada was told only 72 months available since mustang group generally doex not offer more than 72 months. This may still be true but has anybody seen or heard that Ford is offering 84 months in the U.S.?
 

eltonlin

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hybrid2bev

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Believe 72 is the longest loan term, but @hybrid2bev is the subject matter expert...
There are 84 month program rates published in the U.S. They are harder to qualify for than 72 months, so 84 is usually not advertised.
 

kdryden99

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There are 84 month program rates published in the U.S. They are harder to qualify for than 72 months, so 84 is usually not advertised.
Thank you for clarifying. Ill be curious to see if they will have it Canada.
 

GoGoGadgetMachE

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There are 84 month program rates published in the U.S. They are harder to qualify for than 72 months, so 84 is usually not advertised.
84 months - 7 years.... wow, that's a LONG time to be making car payments... that feels very risky to me. 5 years has always felt long to me - after about 3 years (when the 3/36 warranty dies) it's like "wait I'm still paying for this thing?!?". I don't even want to think about 7 years. I suspect you'd be upside-down on the loan (owe more than it's worth) for like, 80 of those months (*), which is crazy.

(*) exaggerating although it actually might be true in the case of very high mileage e.g. 25K a year; you'd be looking at 150K before you paid it off...
 

AndyS_OSU

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84 months - 7 years.... wow, that's a LONG time to be making car payments... that feels very risky to me. 5 years has always felt long to me - after about 3 years (when the 3/36 warranty dies) it's like "wait I'm still paying for this thing?!?". I don't even want to think about 7 years. I suspect you'd be upside-down on the loan (owe more than it's worth) for like, 80 of those months (*), which is crazy.

(*) exaggerating although it actually might be true in the case of very high mileage e.g. 25K a year; you'd be looking at 150K before you paid it off...
Agreed. I could maybe see owning the MME for 6 years. I’m not sure EV tech will progress too far in that amount of time. As long as you’re comfortable with the MME being virtually worthless at the end of that time frame and having 0 equity, you’d be okay. For me that would basically be like 2 lease terms. I’m kind of considering it only because I want this car so badly.
 

Ma9573

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Agreed. I could maybe see owning the MME for 6 years. I’m not sure EV tech will progress too far in that amount of time. As long as you’re comfortable with the MME being virtually worthless at the end of that time frame and having 0 equity, you’d be okay. For me that would basically be like 2 lease terms. I’m kind of considering it only because I want this car so badly.
I have never been able to lease a car just based on my mileage from being in sales. With Covid and a newer manger role I don't have to drive as much (probably about 15k a year now) and was hoping to get my first ever lease with the MME - specifically because I do expect battery tech to improve over the next few years.

With the unfriendly lease options I'm looking more likely to finance again, so if you are right about the tech not improving enough over the next half decade to kill the resale value that will be good for me (but bad for the EV industry and world though lol).

My last 3 Fusions have all had 0% financing, so actually having to pay points kinda sucks. I'm holding out hope that there will be a 0% option by the time my car is ready (9/23/20 order date and no scheduled production yet).
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