back_at_it_19
Well-Known Member
- Joined
- Jul 9, 2020
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- Seattle area
- Vehicles
- '21 Job 1 GB FE and '22 Red Prem4x
And with Options, usually lower payments now (balloon later) and most importantly the ability to walk away in 3-4 yrs regardless of value or equity.Borrowing 50k for 48 months at .9% will accrue $924.15 in interest
Borrowing 50k under the 4 year Options plan: 47 payments of 692.56, and a balloon payment of 20,646, for total payments of 53196.32 to retire the debt. Put another way $3196.32 in interest.
Compared to straight financing at .9%, Options would 'cost' $2272.17 more. If you are in a $1,000 incentive zip code, then it would effectively be $1272 more expensive*. If you are in a $2,500 incentive zip code the 48 month Options plan would be $228 less expensive than financing at the .9% rate over 4 years.*
*[plus $475 to actually return the vehicle unless you trade on a Ford].
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