Pallsapp info

[spanky99L]

5.9% is a scam. You guys probably spend all you time on tracking and haven't follow the threads on Options. It is still 2.25% for non-GT and 1.7% for GT.

Should still be 1.4 for the GT's til the end of the month

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[Bullitt_&_MME]

I was just about to ask you what your Palsapp status was. I'm still in the Null and Pending realm. Congrats on inching a little closer. I'll chime in here when/if my status changes.

My Palsapp yesterday had "pending" to my dealer in Cleveland, and now today it's deleted; only listing the original move from one rail to the other in KC... What do we think happened???

 

[Motomax]

I get yelled at on this forum every time I say that I don't think the Options plan is all that its cracked up to be. I got 2.19 at my bank and already have a check waiting. But don't let them force you into not taking it if that Options deal seems to work out better for you

If youre in a state that gives you a 2500 incentive, options is really a no brainer. At 2.25% it’s only going to cost me $88 to finance for 4 years and $1k down.
I mean I can make $88 in 4 years just off the crappy savings account interest rate and exponentially more with investing.
this is probably why certain people are dumbfounded at not going that route.

 

[scoopman]

Yup. I've got feet on my mats right now. Problem is that they're under my desk rather than in an MME.

the 3D mats feel nice. My co-workers (all still WFH) think I am nuts but keep asking me about my car every day.

 

[Davedough]

If youre in a state that gives you a 2500 incentive, options is really a no brainer. At 2.25% it’s only going to cost me $88 to finance for 4 years and $1k down.
I mean I can make $88 in 4 years just off the crappy savings account interest rate and exponentially more with investing.
this is probably why certain people are dumbfounded at not going that route.

I don't see how that's possible. The calculators I've used show for my car at 70k(ish) at 1.4% that a 36 month Options plan has $1773.84 in interest and for 48, you end up paying $2248.52 in interest. that's after my state's measly 1k incentive. My financing is $3219.94 over 5 years. If you subtract out the additional 2 years, that only leaves a delta of $1195. That all sounds well and good, but my biggest problem is the balloon payment. At the end of 3 or 4 years, the amount still owed on the vehicle is $30,000(ish) and $25,000(ish) respectively. I'm not like some of the rich guys on this forum. I can't just fork over 30k at the end of the Options plan, so I'll have to refinance. After all said and done, if you refinance at the same rate and extend it out another 3 years, you barely save much at all yet you're now paying on a vehicle for a year longer.

 

[Motomax]

I don't see how that's possible. The calculators I've used show for my car at 70k(ish) at 1.4% that a 36 month Options plan has $1773.84 in interest and for 48, you end up paying $2248.52 in interest. that's after my state's measly 1k incentive. My financing is $3219.94 over 5 years. If you subtract out the additional 2 years, that only leaves a delta of $1195. That all sounds well and good, but my biggest problem is the balloon payment. At the end of 3 or 4 years, the amount still owed on the vehicle is $30,000(ish) and $25,000(ish) respectively. I'm not like some of the rich guys on this forum. I can't just fork over 30k at the end of the Options plan, so I'll have to refinance. After all said and done, if you refinance at the same rate and extend it out another 3 years, you barely save much at all yet you're now paying on a vehicle for a year longer.

IF you qualify for the 2500 incentive, based on your interest calculations it’s a money making situation (Incentive - paid interest). Supposedly you can refinance the balloon at the same interest rate which means you get 4years for free and then finance a 20-30k for less than your original interest total. if you don’t want to refinance you can just pay more a month just like you would on your regular loan and lower that balloon payment.

my example is based on financing 42,205 at 2.25% and a finance charge of 2588, so obviously the more you finance the more interest you’ll pay in interest but it should never be more than a regular loan at a higher interest rate unless you’re going for a shorter term.

 

[jddrews]

My Palsapp yesterday had "pending" to my dealer in Cleveland, and now today it's deleted; only listing the original move from one rail to the other in KC... What do we think happened???

Sounds like your car is on it's way to your dealership. Palsapp is the tracking tool for the local trucking company (John Cooper) that moves vehicles around the train yards, so once your car leaves KC it eventually gets removed from the Palsapp tracker.

 

[mac123]

For folks looking at financing check dcu out. They offer a 1.24 APR for 65 months. (0.5% discount for setting up direct deposit and a 0.25% discount for EV's over their standard rates). And they offer the same rates for both for purchase and refinancing. I went this route for a tesla we purchased.

 

[Bullitt_&_MME]

Sounds like your car is on it's way to your dealership. Palsapp is the tracking tool for the local trucking company (John Cooper) that moves vehicles around the train yards, so once your car leaves KC it eventually gets removed from the Palsapp tracker.

what's odd though, is Palsapp still shows the original piece, between the two rail container yards inside KC. Oh well, looks like I am making a drive-by @ both the Ford Plant they ship to, and my dealer to see if my car's sitting at either!

 

[lncanada]

The dealer last night really told tried to talk us out of the options deal. Saying its not an ideal setup, doesnt make sense kind of thing. We will see today. Fords interest rate is GOD AWFUL.. 5.9 percent with excellent credit. We got a rate from a bank for 2.3 and I think that is the route we will go.

What?! I financed yesterday for 1.88% through Truist for 60 month loan. I'm in NC and Options deal is not an option here, I also drive too much for that.

 

[spanky99L]

What?! I financed yesterday for 1.88% through Truist for 60 month loan. I'm in NC and Options deal is not an option here, I also drive too much for that.

More than 19,500 miles/year? Geez....

 

[lncanada]

More than 19,500 miles/year? Geez....

Yeah I drive 25k miles/year on average. So even with the options plan with the 19500 mileage limit my monthly payment is significantly less at my current interest rate with straight financing.

 

[jdunc87]

Not sure how to feel about this. What a process ?.

 

[lncanada]

5.9% is a scam. You guys probably spend all you time on tracking and haven't follow the threads on Options. It is still 2.25% for non-GT and 1.7% for GT.

I was offered 1.9% financing for six month loan yesterday with Ford Credit. 5.9% seems a bit outrageous when there are so many competitive rates out there for new car financing.

 

[Davedough]

Not sure how to feel about this. What a process ?.

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