More Options help needed ASAP, please!

[Nklem]

I guess I am spoiled. Ford Dealers in Maine, in my area, (Quirk, Darlings, Rowe and Arundel) have no ADM policies and follow the Ford incentives and financing to the letter. You walk in and out with what Ford offers.

I have learned there is a local used car dealer that knows this. I always wondered why he has a constant supply of brand new hellCats, Shelbys , C8 vettes, Bronco’s and tricked premium out Suburbans/Tahoe’s and Escalades on his back lot. He buys every one that comes through these dealers, pays cash and lists them online for huge markups.

that’s America I guess.

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[Kitten]

I qualified as a Tier 0/1 - he told me I got the 1.4 and that it's standard that dealerships add x% and made it sound like he was doing a favor to only bump me 2%. He was irritated that I knew more than he did about the car and the financing under the Options plan (he had laughed in my face when I ordered in April and told him I planned to do the Options plan "there's no such thing") and that I was pushing to get the best deal for myself. I'm just going to pay it off or refi and not worry about the GM - it's my money. I made it very clear what I planned to do if the interest rate was going to negate the options incentive - he made the choice to give me 3.4%

Oh, and to add insult to injury, when I went for the second time to go pick it up, they told me they had ceramic coated it and put a leather protectant on and the $620 for that would be added into my total. I gave them a hard no on that. I can't believe the nerve of this place!

 

[Kitten]

But, thanks everyone for your fast help and advice. So far, it's been well worth the hassle!

 

[HuntingPudel]

Congrats on the new GT! Nice car! ???

 

[HuntingPudel]

This is true of all car manufacturers, and all financing options. They can mark up any rate unless the rate is a special rate from the manufacturer's credit arm, or it's a plan purchase like A/Z which prohibits the rate from being adjusted.

This is not new. Most buyers are ill-informed, and don't realize that when the dealer quotes them a rate of 5% that they qualified for 3%. Nor do they realize that the dealer can swap in a different financing company (not on Ford Options), and that they're not borrowing from Ford Credit or GM's Credit arm, but from a bank or finance company that the dealership has an arrangement with.

Been this way forever. Buyers are generally clueless.

Yeah, part of the reason that I didn’t buy my GT-PE from the closest dealer is because they continually quoted me the monthly payment during negotiations for my Fusion Energi. At one point I said the numbers made no sense and asked at what interest rate this was. They told me 7.5% when I told them at the beginning that I wanted the zero percent program (several times). They knew what they were doing. They still never fessed up to all of the add-ons that they foisted onto the car (service plans, extended warranties, etching, coatings, interior treatments, etc). ??

 

[RickMachE]

Yeah, part of the reason that I didn’t buy my GT-PE from the closest dealer is because they continually quoted me the monthly payment during negotiations for my Fusion Energi. At one point I said the numbers made no sense and asked at what interest rate this was. They told me 7.5% when I told them at the beginning that I wanted the zero percent program (several times). They knew what they were doing. They still never fessed up to all of the add-ons that they foisted onto the car (service plans, extended warranties, etching, coatings, interior treatments, etc). ??

I can tell you that the reality is that a huge percentage of car buyers focus on PAYMENT. That's why dealers focus on it.

I've been telling people for years to use X-Plan. I discovered it in 2009. It's great for most buyers.

 

[HuntingPudel]

I can tell you that the reality is that a huge percentage of car buyers focus on PAYMENT. That's why dealers focus on it.

I've been telling people for years to use X-Plan. I discovered it in 2009. It's great for most buyers.

Heh, they purposely evaded my questions every time I asked what the bottom line total amount of the purchase was. Thieving rotten scoundrels. I will bad-mouth them any chance I get. Yeah, I am petty in this regard. ??

 

[Kitten]

I can tell you that the reality is that a huge percentage of car buyers focus on PAYMENT. That's why dealers focus on it.

I've been telling people for years to use X-Plan. I discovered it in 2009. It's great for most buyers.

yes I told them from the outset that I didn't care about the payment, I wanted the best terms, would buy it outright if that made the most financial sense, etc. I did use the x-plan, and they acted like they did me a big favor. And when the car finally arrived, seemed resentful that I was actually taking delivery instead of letting them sell it for a markup.

 

[Jimrpa]

Thanks for the feedback. The GM decided 3.4 was what he was going to give me, even though I qualified for 1.4. When I got to the dealership, my salesman told me what the monthly payment was going to be, but since I knew it wasn't going to be at 1.4, I just said fine fine whatever, give me the paper to sign. I like my salesman fine - he didn't do much, but he's not making much commission on the MachE, so whatever.

I told him that I didn't appreciate the GM trying to screw me, that I know raising the interest rate is discretionary and I found it petty and shortsighted of him to do so. Oh, also, they charged me $250 on the doc fee, even though it's capped at $100 in the x plan. I told them I'm just want my f'ing car, keep your extra $150. So yeah.

My salesman confirmed to me that if I pay off my loan immediately, he will still get his commission but the GM won't get his reserve and will probably have to pay back the $2,500 in options. I just need to decide if I'm going to simply take my future business elsewhere or be petty AF. Currently leaning towards Petty AF. ?‍

The dealer charged you more than the plan doc fee? Definitely report the dealer to plan headquarters and supply ALL relevant documentation - if not for yourself, for anyone else who might try to use this dealer. Pretty sure that’s close to breach of contract.

 

[RMoore]

I can tell you that the reality is that a huge percentage of car buyers focus on PAYMENT. That's why dealers focus on it.

I've been telling people for years to use X-Plan. I discovered it in 2009. It's great for most buyers.

Agree with using X-plan but not sure I understand the connection between that and interest rates/monthly payments. Does using X-plan provide any protection against dealers charging higher rates? Or were you not making a connection here, just two independent statements?

 

[Reign of Ravens]

So on top of all the other things we should try to get the dealer to commit to ahead of time (including whether they accept X-plan or no ADM, no extras like coatings, vin etching etc, and even preferably a signed form showing the price), we should also try to get in writing that when the vehicle is delivered and it is time to settle up, that they will accept Ford Options AND they will not up the interest rate. I wonder how many dealers would do that.

I read your post and chuckled. You're right. To put it all out like that, though, it seems like we're approaching the point where the advice is going to be, "go to your dealership with a lawyer to get everything drafted properly." I don't know if the process was always this ridiculous and we just weren't as well-informed, or if things have changed (particularly now that we're no longer just shopping for what's on the lot, but are putting in 4-9 months of waiting time for the vehicle). It's definitely not customer-friendly, though. In a time when the debate about direct sales vs. dealerships is becoming louder, this is definitely not showing that dealerships add value.

 

[Kitten]

I read your post and chuckled. You're right. To put it all out like that, though, it seems like we're approaching the point where the advice is going to be, "go to your dealership with a lawyer to get everything drafted properly." I don't know if the process was always this ridiculous and we just weren't as well-informed, or if things have changed (particularly now that we're no longer just shopping for what's on the lot, but are putting in 4-9 months of waiting time for the vehicle). It's definitely not customer-friendly, though. In a time when the debate about direct sales vs. dealerships is becoming louder, this is definitely not showing that dealerships add value.

The irony is...I AM a lawyer! I've also been researching this car and participating in machE forums for the last year. Part of my hesitation to go full Rambo was the anticipation of future problems with the car, requiring return visits to the dealership and a loaner vehicle. I pushed as far as I was willing and able to while remaining pleasant. Ultimately got what I wanted, other than the interest rate - and will solve that by purchasing the car. But I told my salesman the model for selling cars is changing and ford needs to recognize that. The consumer has too much access to information for the shell game dealerships have built their businesses on to continue.
FWIW, I did get most of my "demands" in writing before I ordered (x plan, no adm, no early payoff penalty, etc.) but I hadn't thought too much about the interest rate and didn't realize they could hike it out of what appears to be spite.

 

[Kitten]

The dealer charged you more than the plan doc fee? Definitely report the dealer to plan headquarters and supply ALL relevant documentation - if not for yourself, for anyone else who might try to use this dealer. Pretty sure that’s close to breach of contract.

I know I should. I don't know why I'm being so mealy-mouthed about it all. Still trying to convince myself that paying off the options loan early and screwing the GM in the process is the right thing to do.

 

[RMoore]

The irony is...I AM a lawyer! I've also been researching this car and participating in machE forums for the last year. Part of my hesitation to go full Rambo was the anticipation of future problems with the car, requiring return visits to the dealership and a loaner vehicle. I pushed as far as I was willing and able to while remaining pleasant. Ultimately got what I wanted, other than the interest rate - and will solve that by purchasing the car. But I told my salesman the model for selling cars is changing and ford needs to recognize that. The consumer has too much access to information for the shell game dealerships have built their businesses on to continue.
FWIW, I did get most of my "demands" in writing before I ordered (x plan, no adm, no early payoff penalty, etc.) but I hadn't thought too much about the interest rate and didn't realize they could hike it out of what appears to be spite.

I know exactly what you mean. I've been reading here for months and thought I understood some of the nuances of the Ford Options plan but I've never leased a car before and although I've financed, it was always after doing research on interest rates and taking advantage of nice deals available at the time. I've only now learned that the interest rate shown on the Ford website for the Options plan was not etched in stone and that dealers can increase it. My guess is that is the case with many folks here as well.

 

[RMoore]

I know I should. I don't know why I'm being so mealy-mouthed about it all. Still trying to convince myself that paying off the options loan early and screwing the GM in the process is the right thing to do.

You're being hard on yourself. The GM is essentially calling your bluff by sticking to his guns. I would have no qualms about doing whatever is in your best interest here. If that means refinancing or paying off the loan yourself outright, I would do it with a clear conscience. Also, curious to hear how you ended up dealing with that extra $650 they charged for the coatings (but if you don't want to answer that one, I'll understand ).

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