Ford Options...Ugh

prdude

Well-Known Member
First Name
Bill
Joined
Feb 15, 2021
Threads
0
Messages
274
Reaction score
231
Location
pleasant ridge, MI
Vehicles
Space White w/Gray MME Prem ER RWD, 01 Miata
Occupation
engineer
Country flag
Just picked up my MME this afternoon and did the 36-mos Ford Options plan. It took the dealer over a week to figure out how to set things up in their DMS. But in the end, the numbers and payment they showed me fell right in line with the info shared here.

And one other thing: besides the $1000 Ford Options rebate and $100 Drive Assist rebate, they found an additional "VIN-specific" $1000 rebate!
Sponsored

 

J Duce

Well-Known Member
First Name
Jean
Joined
Dec 10, 2019
Threads
1
Messages
299
Reaction score
279
Location
Jamaica, NY
Vehicles
2017 Explorer Sport
Country flag
Hybrid2bev, thank you thank you thank you. It took less than 30 minutes to do the paperwork. I couldn’t have done Ford Options without the help I received from you as well as other members of the forum who encouraged me along the way. Thanks again.
Ditto. @hybrid2bev was super helpful. I thanked him privately, and wanted to now do so publicly.
 

Woeo

Well-Known Member
First Name
Woeo
Joined
Feb 2, 2020
Threads
30
Messages
981
Reaction score
982
Location
Maryland
Vehicles
Fusion Energi
Country flag
Not sure if this has been covered here already and if so, I apologize: Is there any benefit to submitting a credit application online instead of waiting until I’m at the dealer?
You can probably type the information in faster than watching someone type it in as you piece it out to them.
 

mburtsvt

Well-Known Member
First Name
Michael
Joined
Dec 27, 2020
Threads
26
Messages
530
Reaction score
743
Location
California
Vehicles
Just 1 Rapid Red Mach-E
Occupation
Retired
Country flag
We bring it up all the time - don't forget to get the credit for your deposit. Its a bi&* if you don't get it at POP, (point of purchase).
 

RedStallion

Banned
Banned
Joined
Mar 9, 2021
Threads
50
Messages
1,394
Reaction score
1,762
Location
People's Republic of California
Vehicles
Mach-E, et al
Country flag
Yes, @hybrid2bev posts were very helpful. My dealer played dumb trying to pull 5+% APR on Ford Options pretending they knew nothing about 2.25% rate. Unbelievable, they processed a dozen Mach-Es a week before me. They also tried to forget about $500 deposit. So dishonest.
I still feel they pulled some trick as the balloon payment is $2k higher than what one would expect from the Ford residual value table. Perhaps I should have calculated residual including tax, anybody knows?
 


JSOrange97

Well-Known Member
Joined
Jan 26, 2020
Threads
2
Messages
195
Reaction score
197
Location
New Jersey
Vehicles
Ford F-150, Chevrolet Suburban K1500
Country flag
My dealer is on the phone struggling with Ford Credit rep to figure out my options plan as well...
 

zhackwyatt

Well-Known Member
Joined
Dec 18, 2019
Threads
14
Messages
1,603
Reaction score
2,616
Location
Arizona
Vehicles
'21 InfBlu Prem MMEx Past: '13 C-Max '98 Explorer
Country flag
Yes, @hybrid2bev posts were very helpful. My dealer played dumb trying to pull 5+% APR on Ford Options pretending they knew nothing about 2.25% rate. Unbelievable, they processed a dozen Mach-Es a week before me. They also tried to forget about $500 deposit. So dishonest.
I still feel they pulled some trick as the balloon payment is $2k higher than what one would expect from the Ford residual value table. Perhaps I should have calculated residual including tax, anybody knows?
Best thing to do is use this spreadsheet. Poll: Ford Options vs Finance | Page 7 | Ford Mustang Mach-E Forum - MachEforum.com
 

JSOrange97

Well-Known Member
Joined
Jan 26, 2020
Threads
2
Messages
195
Reaction score
197
Location
New Jersey
Vehicles
Ford F-150, Chevrolet Suburban K1500
Country flag
@hybrid2bev why are dealers struggling so much to figure this out with Ford Credit? It looks like my dealer sales manager is on the phone with 2 different people at once talking about system downloads, etc.... How complicated did they make this?
 

hybrid2bev

Well-Known Member
Joined
Dec 4, 2019
Threads
75
Messages
4,070
Reaction score
11,091
Location
USA
Vehicles
2021 Job 1 Premium4X - EAP Member
Country flag
@hybrid2bev why are dealers struggling so much to figure this out with Ford Credit? It looks like my dealer sales manager is on the phone with 2 different people at once talking about system downloads, etc.... How complicated did they make this?
The issue is not on the Ford side. The eContact system has been ready and working for months. To eContract a Ford Options vs. a normal finance contract is literally only like 4 extra fields. Super easy.

The problems are with the dealers internal systems which are generally not set up for balloons and require updates from their service provider.
 

GoGoGadgetMachE

Well-Known Member
First Name
Michael
Joined
Jan 23, 2020
Threads
153
Messages
5,614
Reaction score
12,654
Location
Ohio
Vehicles
2021 Mach-E 1st Ed., 2022 Lightning Platinum
Occupation
Professional forum cheerleader and fanboy
Country flag
Just picked up my MME this afternoon and did the 36-mos Ford Options plan. It took the dealer over a week to figure out how to set things up in their DMS. But in the end, the numbers and payment they showed me fell right in line with the info shared here.

And one other thing: besides the $1000 Ford Options rebate and $100 Drive Assist rebate, they found an additional "VIN-specific" $1000 rebate!
that "VIN-specific" probably means you were one of the "250 kWh plus $1000" people.
 

supertramp

Well-Known Member
Joined
Oct 26, 2020
Threads
6
Messages
341
Reaction score
341
Location
SF East Bay, CA
Vehicles
2010 Honda Pilot,2012 Honda Civic,Premium std rwd
Country flag
Yes, @hybrid2bev posts were very helpful. My dealer played dumb trying to pull 5+% APR on Ford Options pretending they knew nothing about 2.25% rate. Unbelievable, they processed a dozen Mach-Es a week before me. They also tried to forget about $500 deposit. So dishonest.
I still feel they pulled some trick as the balloon payment is $2k higher than what one would expect from the Ford residual value table. Perhaps I should have calculated residual including tax, anybody knows?
Higher residual value is actually better if you want to refuse the car after 3/4 years - also lesser monthly payments. So, it depends on what you want at the end. :)
 

JSOrange97

Well-Known Member
Joined
Jan 26, 2020
Threads
2
Messages
195
Reaction score
197
Location
New Jersey
Vehicles
Ford F-150, Chevrolet Suburban K1500
Country flag
The issue is not on the Ford side. The eContact system has been ready and working for months. To eContract a Ford Options vs. a normal finance contract is literally only like 4 extra fields. Super easy.

The problems are with the dealers internal systems which are generally not set up for balloons and require updates from their service provider.
Well something isn’t working right because it’s kept me here like 2 extra hours. We’ve waited 16 months for the car, so what’s an extra 2 hours? Just a little frustrating because my wife had to leave foe an appointment and can’t drive her new car home. I get to instead.
 

RedStallion

Banned
Banned
Joined
Mar 9, 2021
Threads
50
Messages
1,394
Reaction score
1,762
Location
People's Republic of California
Vehicles
Mach-E, et al
Country flag
Higher residual value is actually better if you want to refuse the car after 3/4 years - also lesser monthly payments. So, it depends on what you want at the end. :)
I'm not sure that's how it works. I might be wrong, but I think if you return the car it will be assessed on the basis of Ford's official residual value table, not on the basis of the outstanding balloon payment. If that's the case then you might end up paying part of the balloon payment that is over the residual.
 

supertramp

Well-Known Member
Joined
Oct 26, 2020
Threads
6
Messages
341
Reaction score
341
Location
SF East Bay, CA
Vehicles
2010 Honda Pilot,2012 Honda Civic,Premium std rwd
Country flag
I'm not sure that's how it works. I might be wrong, but I think if you return the car it will be assessed on the basis of Ford's official residual value table, not on the basis of the outstanding balloon payment. If that's the case then you might end up paying part of the balloon payment that is over the residual.
Well... Everything is possible in this life as we know, but you have a document where your balloon payment amount is listed - who would argue with the document? But you could be right obviously - that's why I would call Ford Finance and consult. Or ask @hybrid2bev :)
 

eltonlin

Well-Known Member
Joined
Oct 4, 2020
Threads
8
Messages
1,184
Reaction score
1,497
Location
NorCal
Vehicles
FE Gray
Country flag
I'm not sure that's how it works. I might be wrong, but I think if you return the car it will be assessed on the basis of Ford's official residual value table, not on the basis of the outstanding balloon payment. If that's the case then you might end up paying part of the balloon payment that is over the residual.
With Options, if you turn in your car back to the dealer, your balloon payment is covered.
Sponsored

 
 




Top