Interpreting Rates

[j0j0yum]

I asked my salesman if I was able to find out the money factor before moving in to the contract. I already have the residual and payment rates for 24 & 36 month options.

this is what I received. Not money factor and not Apr/apy

so….about what’s my interest rate for tier 0-1 for 24 months?

thanks!

Sponsored

 

[Mach1E]

I asked my salesman if I was able to find out the money factor before moving in to the contract. I already have the residual and payment rates for 24 & 36 month options.

this is what I received. Not money factor and not Apr/apy

so….about what’s my interest rate for tier 0-1 for 24 months?

thanks!

Never seen a sheet like that, but is it not the highlighted numbers?

What does your salesperson say?

 

[j0j0yum]

I don’t think he knows either because the money factor is usually starts with .000xx

 

[GreaseMonkey]

These are rates. Divide by 2400 to get the MF

 

[GreaseMonkey]

MF makes the math of getting the financing cost easier (add price + residual and multiply by MF). But no salesperson knows how to do the math anymore. Remember, they are the ones who carry the paper from the sales manager, give it to you, and answer every question with “I dunno”!

 

[j0j0yum]

These are rates. Divide by 2400 to get the MF

That seems low for apr…??

 

[E90alex]

That seems low for apr…??

Yes. It’s called a promotional rate for a reason.

 

[LocoEngineer]

I asked my salesman if I was able to find out the money factor before moving in to the contract. I already have the residual and payment rates for 24 & 36 month options.

this is what I received. Not money factor and not Apr/apy

so….about what’s my interest rate for tier 0-1 for 24 months?

thanks!

.24%. Ford Credit uses an APR when calculating leases, where most other financial institutions use a money factor.

If you want to know if you're getting the buy rate, meaning the dealer isn't marking up the APR, go here and ask: 2025 Ford Mustang Mach-E Lease Deals, Incentives, Rebates, and Prices - Page 4 — Car Forums at Edmunds.com

 

[GreaseMonkey]

.24%. Ford Credit uses an APR when calculating leases, where most other financial institutions use a money factor.

If you want to know if you're getting the buy rate, meaning the dealer isn't marking up the APR, go here and ask: 2025 Ford Mustang Mach-E Lease Deals, Incentives, Rebates, and Prices - Page 4 — Car Forums at Edmunds.com

Good source, but you don’t have to ask anymore. There’s a better calculator that automatically applies the right MF, RV and incentives.

https://www.edmunds.com/calculators/car-lease.html

 

[fkyct]

I questioned this when I leased my Lightning. Ford Credit does not use Money Factor, they use Interest rate for leases. No need to convert MF to APR

In February the promotional rate for my Lightning lease was an amazing 0.04%, essentially ZERO. That is why I jumped on the Lightning lease on a 2024 Platinum. That in addition to $21,615 in incentives and rebates and another $3,550 in X-Plan discount. That was a $25,165 off MSRP and 0% financing.

I actually went to the dealer to trade in one of my Tesla Model Y's and buy or lease a Mach-E. I ended up selling my 2023 Lightning Lariat to the dealer and leasing the 2024 Lightning Platinum

 

[XGC75]

They can do better. I got 0.55 for a 36mo lease, 10k miles/y and 0 down, on a 24 GT in March. Might not be the current offer but should give you perspective if now is a good time to negotiate or wait for July

 

[E90alex]

That’s the buy rate set by Ford Credit and not negotiable any further.

It was indeed lower in Q1 but the programs and rates changed for Q2.

Sponsored