Grabber Blue! has finally made it home...sort of.

[jetermeyer]

See my post here: https://www.macheforum.com/site/threads/my-mach-e-day-1-impressions.2993/post-94599

If you give this info to the dealer it should help them find the information they are looking for. Just ensure the dealer selects 'Balloon' when sending your credit application to Ford Credit. The eContracting process is pretty straightforward they should be able to figure it out because Options is written on a normal retail contract form.

If you have any further issues or questions I'll be glad to help as best I can. Tag me in your post or DM me if you'd rather converse offline of the public side.

See my post here: https://www.macheforum.com/site/threads/my-mach-e-day-1-impressions.2993/post-94599

If you give this info to the dealer it should help them find the information they are looking for. Just ensure the dealer selects 'Balloon' when sending your credit application to Ford Credit. The eContracting process is pretty straightforward they should be able to figure it out because Options is written on a normal retail contract form.

If you have any further issues or questions I'll be glad to help as best I can. Tag me in your post or DM me if you'd rather converse offline of the public side.

I don't think I have seen this asked anywhere. Can you trade in a car and use the options plan? Does the trade in have to be no more then 30% or can it be larger?

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[methorian]

I don't think I have seen this asked anywhere. Can you trade in a car and use the options plan? Does the trade in have to be no more then 30% or can it be larger?

Trade-in positive equity would count towards the 30% max downpayment.

 

[hybrid2bev]

I don't think I have seen this asked anywhere. Can you trade in a car and use the options plan? Does the trade in have to be no more then 30% or can it be larger?

Yes @methorian is correct- a trade in can be done with Options and it counts towards the down payment.

See this:
https://www.macheforum.com/site/threads/my-mach-e-day-1-impressions.2993/post-95192

 

[Davedough]

Congrats! That’s a good looking vehicle. I love seeing so many forum members getting their cars. This is an exciting time!

 

[Electric Fusion]

Very nice ? congratulations...

After a few weeks delay, Blue (what I have affectionately named it) has “almost” made it home. And what perfect timing as I was alerted that my Ford branded charger is supposed to arrive tomorrow. So I was notified by the dealer this morning that Blue had arrived and I could take it out for a spin to ensure that I wanted to continue with the purchase. Obviously I did and I definitely want it more now! All I can is Wow!! Unfortunately, I want to go with Ford Options and the finance manager had no idea what I was talking about or even how process the request. Ultimately he had to reach out to his Ford rep and said that he probably won’t hear anything back until sometime Monday. Gotta love rural Iowa. ?

So I had to let her go until sometime early next week. Parting is such sweet sorrow! ?

 

[mattbostonmache]

Yes @methorian is correct- a trade in can be done with Options and it counts towards the down payment.

See this:
https://www.macheforum.com/site/threads/my-mach-e-day-1-impressions.2993/post-95192

So if my trade-in is worth more than 30%, I can't use options?

I might have do private sale then. Or finance.

 

[generaltso]

So if my trade-in is worth more than 30%, I can't use options?

You can, but they‘d have to cut you a check for the difference.

 

[DBC]

If the idiots have to hold onto my car for a few extra days so be it, I'm absolutely NOT leasing and I want the "guaranteed out" just in case MME values collapse - especially since the $2500 makes the options cheaper than straight finance.

Options is my preferred route but it's not cheaper than Financing -- the lower interest rate for financing makes up for the incentive. Mostly a wash.

I wouldn't worry too much about values collapsing. If the tax credits aren't renewed then you can expect the price to drop by that much, but it's not really a drop in price as much as a price cut or bonus cash substituting for the credits. A lot of the claims about BEVs not holding their resale value is based on not taking the tax credits into account. (Seems like the credits will be extended BTW). Plus prices of cars which have been on the market for a few years never command the same prices as they did when they were the new thing on the block.

The funny thing about vehicles is that if you hold them long enough the resale values never matter because they converge. A ten year old whatever has about the same FMV as another ten year old whatever. If you like the MME after 3 years and you can use it for another seven years, keeping it regardless of whether the FVM wholesale price is higher or lower than the residual makes sense. (The used vehicle market is totally broken so the trade in value is often well below what the value would be in a healthy market, but that's a whole different subject).

 

[timbop]

Options is my preferred route but it's not cheaper than Financing -- the lower interest rate for financing makes up for the incentive. Mostly a wash.

I wouldn't worry too much about values collapsing. If the tax credits aren't renewed then you can expect the price to drop by that much, but it's not really a drop in price as much as a price cut or bonus cash substituting for the credits. A lot of the claims about BEVs not holding their resale value is based on not taking the tax credits into account. (Seems like the credits will be extended BTW). Plus prices of cars which have been on the market for a few years never command the same prices as they did when they were the new thing on the block.

The funny thing about vehicles is that if you hold them long enough the resale values never matter because they converge. A ten year old whatever has about the same FMV as another ten year old whatever. If you like the MME after 3 years and you can use it for another seven years, keeping it regardless of whether the FVM wholesale price is higher or lower than the residual makes sense. (The used vehicle market is totally broken so the trade in value is often well below what the value would be in a healthy market, but that's a whole different subject).

Not to argue, but in my particular situation it works out better: I get $2500 in incentives and don't pay sales tax on a BEV. I fully expect solid state batteries (or some other significant advancement) to be available in 4 years, and so plan to roll whatever equity my 2021 Mach E has in on a Ford with that better battery. Hopefully it's a BEV mustang convertible coupe, but who knows. With that in mind, I'll actually save just about $1k thanks to the $2500 cash incentive:

48 month loan at .9% with $12k down (my trade) = $39,619 (825.4*48)
48 month Options with $12k down and 18k mi/yr ($16288 balloon) = $38,782 (478.61*47 + 16288)

With the options plan not only have I made lower payments, but I also have a guaranteed minimum trade-in value. Of course, if I elect to keep the 2021 Mach E in 4 years I'll have to pay off the balance in cash or with a note that will end up being more expensive than the 4 year buy would have been. I can just set aside the difference in payments ($347) every month to pay the note at the end, in which case I will also have a tidy little sum if I don't keep the car.

win-win for me, but maybe not for everyone.

 

[ChasingCoral]

Not to argue, but in my particular situation it works out better: I get $2500 in incentives and don't pay sales tax on a BEV. I fully expect solid state batteries (or some other significant advancement) to be available in 4 years, and so plan to roll whatever equity my 2021 Mach E has in on a Ford with that better battery. Hopefully it's a BEV mustang convertible coupe, but who knows. With that in mind, I'll actually save just about $1k thanks to the $2500 cash incentive:

48 month loan at .9% with $12k down (my trade) = $39,619 (825.4*48)
48 month Options with $12k down and 18k mi/yr ($16288 balloon) = $38,782 (478.61*47 + 16288)

With the options plan not only have I made lower payments, but I also have a guaranteed minimum trade-in value. Of course, if I elect to keep the 2021 Mach E in 4 years I'll have to pay off the balance in cash or with a note that will end up being more expensive than the 4 year buy would have been. I can just set aside the difference in payments ($347) every month to pay the note at the end, in which case I will also have a tidy little sum if I don't keep the car.

win-win for me, but maybe not for everyone.

It really depends on if you’re in a $2500 or $1000 Options Bonus Cash state.

 

[Maric]

Remember that most F&I managers have never done an options contract and most dealerships have only a couple of Mace Es in order. I’m not surprised they haven’t dug deep into a financing instrument they may never use.

Friday night. Drinking beer. Irish temper. Don't mind me.

 

[Mirak]

It also depends upon whether you intend to pay off the loan early. The best way to maximize savings is to find a $2500 incentive, make your max 30% DP, and pay off the rest in the shortest time possible.

 

[agoldman]

It also depends upon whether you intend to pay off the loan early. The best way to maximize savings is to find a $2500 incentive, make your max 30% DP, and pay off the rest in the shortest time possible.

Is that less than just paying all cash if ypou only keep the car 1-2 years?

 

[generaltso]

Is that less than just paying all cash if ypou only keep the car 1-2 years?

Yup. The interest would be less than $2500.

 

[eltonlin]

Is that less than just paying all cash if ypou only keep the car 1-2 years?

Yup. I calculated a ~31 month "breakeven" on the 36month Options.. If you pay off the car before that month, you "save" money relative to paying all cash.

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