"Ford Options" payment option

benboy12

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So on my way home from work I was listening to so initial takes on the Mach E via YouTube. The Edmunds discussion referenced an upcoming payment option called “Ford Options” that could potentially be used with the Mach E. I googled Ford Options and came up with a link to Ford UK’s website. It seems like it’s an option over there that is similar to a lease but has some additional flexibility. Is anyone familiar with this? I thought Edmunds was an American company, so I wouldn’t think they would be talking about something that was UK only. They also referenced it as something that was forthcoming while the UK option seems to already be in place. Anyone familiar with this?
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stmache

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I saw that on youTube, too. I think that's just for the UK. I currently lease an Escape it was not referred to as Ford Options.
 

Lizzyfitz

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So on my way home from work I was listening to so initial takes on the Mach E via YouTube. The Edmunds discussion referenced an upcoming payment option called “Ford Options” that could potentially be used with the Mach E. I googled Ford Options and came up with a link to Ford UK’s website. It seems like it’s an option over there that is similar to a lease but has some additional flexibility. Is anyone familiar with this? I thought Edmunds was an American company, so I wouldn’t think they would be talking about something that was UK only. They also referenced it as something that was forthcoming while the UK option seems to already be in place. Anyone familiar with this?
lLooks like they are offering g it in the U.S. now:
https://www.ford.com/finance/finance-options/ford-options
 

DBC

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Anyone familiar with this?
It's basically like a lease but the customer rather than the leasing company retains title. For the tax credit this makes a difference. Might be good or bad. The good part is the customer gets the entire $7500 tax credit and avoids complaints and questions about how much of the credit should apply to the lease term and how much to the residual.

The bad part comes up if you can't use the tax credit, which isn't an issue in a lease since the leasing company gets the credit.

Another bad part might be if under your state law you owe sales tax on the entire price of the vehicle.

The auto finance option if you want to keep the car is nice as is the ability to do an auto trade in if the vehicle FMV is higher than the buyout price.
 

SAVAGE

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Ford Mustang Mach-E "Ford Options" payment option 488073FE-F80D-49B5-A86F-6C3F30821D00

So when they say ‘..or apply it to your account" does that mean that we will be able to take the $7500 off the price of the car?
 


hybrid2bev

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Ford Mustang Mach-E "Ford Options" payment option 488073FE-F80D-49B5-A86F-6C3F30821D00

So when they say ‘..or apply it to your account" does that mean that we will be able to take the $7500 off the price of the car?
Not at the time of delivery, no. What that means is that later after you file and receive your federal tax credit refund you can then apply those funds towards the loan and recalculate your monthly payments.
 

FredT

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Not at the time of delivery, no. What that means is that later after you file and receive your federal tax credit refund you can then apply those funds towards the loan and recalculate your monthly payments.
I seem to recall that some weeks ago you hinted of "new" things coming. Did you or someone else raise the possibility of a traditional lease? It could have been my imagination.
 

hybrid2bev

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I seem to recall that some weeks ago you hinted of "new" things coming. Did you or someone else raise the possibility of a traditional lease? It could have been my imagination.
Nothing has been publicly announced. What I can say is that concerns about the monthly payments with Ford Options have been heard and things are in the works.
 

JamieGeek

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Isn't that already on the page: go to ford.com on the Mach-E click "order", configure one the way you like and then at the top right click "Finance" on the top right. This is what I see when I click there:
Ford Mustang Mach-E "Ford Options" payment option Screenshot 2020-10-25 175748

(Configured a CA Rt 1)
 

hybrid2bev

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Last I heard a couple days ago is that the e-commerce team is hard at work. You IT folks on here will appreciate the implications of late requirements changes.
 

hybrid2bev

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Isn't that already on the page: go to ford.com on the Mach-E click "order", configure one the way you like and then at the top right click "Finance" on the top right. This is what I see when I click there:
Ford Mustang Mach-E "Ford Options" payment option Screenshot 2020-10-25 175748

(Configured a CA Rt 1)
Yes, but those calculations are estimates. Thus they may not be the actual program rates and residuals.
 

JamieGeek

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Yes, but those calculations are estimates. Thus they may not be the actual program rates and residuals.
ok even still you can put in your own rate and play with the down payment to come up with a decent swag...
 

DBC

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Nothing has been publicly announced. What I can say is that concerns about the monthly payments with Ford Options have been heard and things are in the works.
I guess we'll see what they can come up with but the "options" would seem to be limited. Basically there is the purchase price, the return price, and the interest rate. Other than playing with the tax credit not sure what you can do.

The "sticker shock" comes from the the fact that the $7500 doesn't show up in the payments. Take a page from Tesla's book and just reduce the monthly by $210 with an asterisk that says "after tax credit" and see if people are happy. ;)

Very glad to hear Ford Options will be an option. I think it's better than a lease.
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