NJ Charge Up EV Incentive

[timbop]

Yeah, I just asked about the options plan and the dealer said that it would be $2500 off of msrp. You are good to pay off after 3 months. I’ve been told by the dealer that it takes 3 months for Ford to setup in their system. Once done we can call Ford and just pay it off.

That's actually a fib by the dealer. if you pay it off before 3 months, the dealership gets charged back for the $2500.

This is per one of the ford insiders here

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[MachEnation]

That's actually a fib by the dealer. if you pay it off before 3 months, the dealership gets charged back for the $2500.

This is per one of the ford insiders here

Yeah, and the other issue too is that "paying off" means the WHOLE thing--balloon and all. This a retail installment contract with an option to "return" the car after 3 or 4 years. If you don't pay off the balloon, you'll still need to make payments for the next 3 years, although you can apply for some sort of "adjustment" apparently. I don't have the full story myself, but I don't plan on doing this so I haven't researched it thoroughly. With $5K NJ rebate + the $7,500 I put down (that I'll get next year) I'm VERY satisfied with my LOW monthly payment. Will decide whether to keep it in 3 years. After all, it IS a first year model.

This thread might help you, but be sure to go through the whole thing: https://www.macheforum.com/site/threads/problem-with-pre-paying-ford-options-lease.7347/

 

[timbop]

Yeah, and the other issue too is that "paying off" means the WHOLE thing--balloon and all. This a retail installment contract with an option to "return" the car after 3 or 4 years. If you don't pay off the balloon, you'll still need to make payments for the next 3 years, although you can apply for some sort of "adjustment" apparently. I don't have the full story myself, but I don't plan on doing this so I haven't researched it thoroughly. With $5K NJ rebate + the $7,500 I put down (that I'll get next year) I'm VERY satisfied with my LOW monthly payment. Will decide whether to keep it in 3 years. After all, it IS a first year model.

This thread might help you, but be sure to go through the whole thing: https://www.macheforum.com/site/threads/problem-with-pre-paying-ford-options-lease.7347/

Right, if you pay off the entire note (including balloon) within the first 3 months then the dealer gets charged for the options incentive

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