How long are you doing options?

How long are you doing options


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solarmoo900

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For those of you doing Ford Options, are you going with the 36 month or 48 month? I kind of want to do the 36 because who knows what the world will be like in 3 years with BEVs. Curious what everyone else is thinking
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timbop

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I am doing options to cover me in case there really are astonishing developments in battery technology, I don't want to get stuck with a worthless car at the end. Battery technology will likely be very different by mid decade, but no on has a crystal ball and things always take longer to go from lab to commercially viable. I'm going 4 years to give the most time for things to change dramatically. I figure if they do in 3 years, I'll still be able to get a newer, better car in 4. If it takes 4 years, then I am still able to "upgrade" with the out of a fixed minimum residual value.

On a 3 year loan then I might have to buy the car outright or get a new one that doesn't have quite the leap in battery performance.
 

Darken

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I'm doing options for mostly the same reasons Timbop mentioned. I'm going to go with the 48 months because if I get another new car in 3 years my wife would literally kill me. (Assuming she doesn't after purchasing the Mach-E that is.)?
 

physib

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Am thinking of 36 months because with the $1,000 incentive, and assuming I keep the car, it nets me an APR of roughly 0.4% compared to ~1.1% for 48 months. Either would be ok though.
I wonder why the APR is 5% for me?
 


jhalkias

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I wonder why the APR is 5% for me?
Are you looking at a GT? When I went to the build and configure, and then the calculator, the APR for a premium was 2.25%, while the GT is 5% (and no retail cash for the GT) . . . of course that is now, who knows what incentives will be on GT arrival.
 

generaltso

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I'm not 100% sure that I'm going to go with Options instead of regular financing. But if I do (in order to get the $2500 incentive), I'll go with 3 years. I tend to get new cars every 3 years or so anyway. If there's nothing better that I want in 3 years, I'll just buy it out at that point.
 

macchiaz-o

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I wonder why the APR is 5% for me?
Are you looking at a GT? When I went to the build and configure, and then the calculator, the APR for a premium was 2.25%, while the GT is 5% (and no retail cash for the GT) . . . of course that is now, who knows what incentives will be on GT arrival.
Yeah, 5% is what shows up as the default value when financing programs aren't loaded into the system for the vehicle you are viewing.

Individuals in the top rate tiers for Ford Options on the currently available trims will qualify for 2.25% APR.

The lower "net APR" rates that I stated for my own numbers are based on factoring in the impacts of the extra interest caused by the balloon, as well as the $1,000 incentive for my zip code.
 

jhalkias

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Yeah, 5% is what shows up as the default value when financing programs aren't loaded into the system for the vehicle you are viewing.

Individuals in the top rate tiers for Ford Options on the currently available trims will qualify for 2.25% APR.

The lower "net APR" rates that I stated for my own numbers are based on factoring in the impacts of the extra interest caused by the balloon, as well as the $1,000 incentive for my zip code.
Yeah, I figured you were factoring in the cash.
 

generaltso

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The lower "net APR" rates that I stated for my own numbers are based on factoring in the impacts of the extra interest caused by the balloon, as well as the $1,000 incentive for my zip code.
So, unlike a lease, you pay interest on the entire financed amount including the balloon?
 

hybrid2bev

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So, unlike a lease, you pay interest on the entire financed amount including the balloon?
Yes, Options is a retail installment contract. The only difference is your amount financed is split out into a different payment schedule.
 

MerryBrown

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36 months. Also because it seems like batteries are improving all the time. But also because other technology is improving as well. Who knows? Maybe they will improve Sync beyond what can be improved by and over the air update.
 

OldEVGuy

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More than likely, my car won’t be delivered until summer. At that time, I’ll decide on either Options or the Ford RCL, depending on the terms. Maybe there will be more favorable lease terms by then.

With the rapid change in EV/battery technology, I’m leaning towards 36 months. I’m hoping, by then, there will also be more choices for three row BEV’s.
 

UW2

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I am doing options to cover me in case there really are astonishing developments in battery technology, I don't want to get stuck with a worthless car at the end. Battery technology will likely be very different by mid decade, but no on has a crystal ball and things always take longer to go from lab to commercially viable. I'm going 4 years to give the most time for things to change dramatically. I figure if they do in 3 years, I'll still be able to get a newer, better car in 4. If it takes 4 years, then I am still able to "upgrade" with the out of a fixed minimum residual value.

On a 3 year loan then I might have to buy the car outright or get a new one that doesn't have quite the leap in battery performance.
Pretty much the same sentiments from me, except I plan on the 47-month option
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