Ford Options or Regular Finance?

[sid234]

I am trying to buy a Mach-E Premium AWD and i have two options to finance the purchase:

Price: $56,640
Ford options (Includes a $2500 rebate) for 47 months @2.25% and ~$3500 down. 12,000 miles/yr
I get to $680/month (not sure if Ford's calculator takes tax into account?) and a residual of ~$21,000.

While my credit Union auto loan for 65 months @1.24% comes to ~$800/month

I prefer lower monthly payments from the options contract but I was wondering if there are any downsides to it, esp. 48 months one which end 1yr after the Ford warranty does. Also, the concept of sticking to 12,000 miles/yr concerns me.

Would I be held to the mileage if i plan to still buy the car at the end of 48 months?

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[barryvo]

I had the same question until finding out Ford Options is not available in my state. I would be interested if it was available.

 

[macchiaz-o]

No downsides in your situation. The $2,500 discount makes it an easy decision.

 

[IMDIDOC]

I found it better than a lease as you have title to the vehicle the same as if you financed through the credit union. This way you can trade it in any time. My Option rate is 2.25%, but wow 1.24%

 

[NJDevFan30]

Agree with @macchiaz-o. With the $2500 rebate it's hard to pass up. Run the numbers through his calculator and you can get an idea on how the two loans compare:
https://www.macheforum.com/site/threads/poll-ford-options-vs-finance.2883/post-92089

Mileage only matters if you transfer back to Ford at the end of your Options contract.

 

[sid234]

Agree with @macchiaz-o. With the $2500 rebate it's hard to pass up. Run the numbers through his calculator and you can get an idea on how the two loans compare:
https://www.macheforum.com/site/threads/poll-ford-options-vs-finance.2883/post-92089

Mileage only matters if you transfer back to Ford at the end of your Options contract.

OMG! That is awesome! Thank you so much. If i get the 36 month Ford option, looks like i actually come out ahead with the ford rebate plus federal rebate if I purcahse the car at the end of the loan

 

[vinny2487]

I am trying to buy a Mach-E Premium AWD and i have two options to finance the purchase:

Price: $56,640
Ford options (Includes a $2500 rebate) for 47 months @2.25% and ~$3500 down. 12,000 miles/yr
I get to $680/month (not sure if Ford's calculator takes tax into account?) and a residual of ~$21,000.

While my credit Union auto loan for 65 months @1.24% comes to ~$800/month

I prefer lower monthly payments from the options contract but I was wondering if there are any downsides to it, esp. 48 months one which end 1yr after the Ford warranty does. Also, the concept of sticking to 12,000 miles/yr concerns me.

Would I be held to the mileage if i plan to still buy the car at the end of 48 months?

Mileage only comes into play if you return the car. Also, you can also refinance the balloon payment at (I THINK) the same 2.25% (someone correct me if I'm mistaken).

I went with Options because the $2500 rebate is hard to pass up. It pretty much pays for the finance charges and then some.

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