Ford options

[Leolivan]

While waiting for my Mach-E Premium to be delivered next month I went to a dealer to run the numbers. My price is 58,770.



So with the 36 month Option at 35 Payments of $1,100.84 with a 36th Balloon Payment of $26,298.80



Then with the 48 month option at 47 payments of $942.58 with a 48th Balloon Payment of $22,114.90

is it even a good deal? Or should I just opt out for a regular car loan?

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[generaltso]

Are they still offering the Options bonus cash? That’s what usually makes it a good deal, especially if you live in an area that’s $2000 (used to be $2500).

 

[RickMachE]

While waiting for my Mach-E Premium to be delivered next month I went to a dealer to run the numbers. My price is 58,770.



So with the 36 month Option at 35 Payments of $1,100.84 with a 36th Balloon Payment of $26,298.80



Then with the 48 month option at 47 payments of $942.58 with a 48th Balloon Payment of $22,114.90

is it even a good deal? Or should I just opt out for a regular car loan?

Is this the options rate from when you ordered (which they are supposed to give you)?

What's the interest rate on the Options options?

What's the comparable rate on a loan?

Do you want to potentially hand Ford the keys in 3 or 4 years?

Pretty hard to compare things when you don't have the interest rates.

When we bought ours, we had the choice of a $1,000 rebate with Ford Options and rates of 2.25 or 2.49%, vs. a standard loan of 0.9%. The loan wins every time with that math.

We have no intention of turning it in and handing over keys.

 

[DaveP]

Make sure rate and rebate are from time of order(via Smart Vincent Report). I ordered in Feb 22 and got $2500 rebate and 2.49% rate. Regular financing was 5.49%. With better battery tech changing rapidly I did a 4 year options plan and will turn in at end of period using that savings towards new vehicle which in 4 years will be drastically improved. If for whatever reason its not (doubtful) Ill keep it. Regardless I want the option to choose.

 

[Nklem]

Also check with Parsons FCU in Pasadena. Great EV rates. Last I knew they were 3.99% for 84 months.

 

[Leolivan]

Make sure rate and rebate are from time of order(via Smart Vincent Report). I ordered in Feb 22 and got $2500 rebate and 2.49% rate. Regular financing was 5.49%. With better battery tech changing rapidly I did a 4 year options plan and will turn in at end of period using that savings towards new vehicle which in 4 years will be drastically improved. If for whatever reason its not (doubtful) Ill keep it. Regardless I want the option to choose.

How can I check on such report?

 

[awp0]

I just want to chime that there's some security (and therefore value) in knowing that you can give the car back in 3-4 years. It seems like the EV market is volatile, and right now resale prices are tanking. Who knows what will happen over the next couple of years, but Tesla is shaking things up and I'm thankful to have Ford Options as a fall back.

 

[DaveP]

How can I check on such report?

Have to have dealer run the report from time of order, not time of sake

 

[mmm]

I just want to chime that there's some security (and therefore value) in knowing that you can give the car back in 3-4 years. It seems like the EV market is volatile, and right now resale prices are tanking. Who knows what will happen over the next couple of years, but Tesla is shaking things up and I'm thankful to have Ford Options as a fall back.

It’s a put option, to get rid of the car if the market falls out. Plus I got $1,000 and 1.4%.

 

[moparguy]

Check what were the offers from back when you made the order, ideally, you want to look at a credit union.

At $57k your premium won't qualify for the $7500 federal incentive, that price can get you a 2021 GT, hell my 2022 GT that I sold to Carvana, is still on their website for sale for $60k, I may buy it back if it goes down to $55k, it may worth looking at a GT, a 2021 can be found for as low as $51k, at least where I live.

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