Poll: Ford Options vs Finance

[physib]

If you're comfortable leaving $1,000-2,500 on the table, go for it. ?

I meant not telling them to prepare for processing Options.

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[Sneezy]

My dealer has now found the "options" and they are reading up on it. This is so painful.

 

[GrisGris]

My dealer has now found the "options" and they are reading up on it. This is so painful.

You're ahead of the game, man. That's what counts with these dealers.

 

[Sneezy]

You're ahead of the game, man. That's what counts with these dealers.

I was hoping to pick it up tomorrow. I doubt that will happen now. Buying online would have kept all of this BS to a minimum.

 

[GrisGris]

I was hoping to pick it up tomorrow. I doubt that will happen now. Buying online would have kept all of this BS to a minimum.

Ohh..so you're going through my particular hell then. Yes, the online check-out/Options financing process was so easy....and a complete waste of my time.

 

[Sneezy]

Ohh..so you're going through my particular hell then. Yes, the online check-out/Options financing process was so easy....and a complete waste of my time.

Ford needs to fix this. I am not amused and the only way I'm making the purchase is with "options". I leave town the 19th and would really like to have it by then.

*goes and grabs cold beer.....

 

[BMT1071]

Ford needs to fix this. I am not amused and the only way I'm making the purchase is with "options". I leave town the 19th and would really like to have it by then.

*goes and grabs cold beer.....

Have you asked @hybrid2bev if he can help?

 

[Mickey the T]

Ford needs to fix this. I am not amused and the only way I'm making the purchase is with "options". I leave town the 19th and would really like to have it by then.

*goes and grabs cold beer.....

FWIW, the sales rep I worked with was completely unfamiliar with Options, which really had me worried. But when I finally made it to the Finance Manager, he was very familiar with it and we breezed through the process. I was very concerned going in, but as it turned out I had worked myself into a needless lather.

That said, the dealership bears a lot of responsibility for my concerns since early in the process I had asked to speak with someone in finance and I was stone-walled on that.

 

[Sneezy]

FWIW, the sales rep I worked with was completely unfamiliar with Options, which really had me worried. But when I finally made it to the Finance Manager, he was very familiar with it and we breezed through the process. I was very concerned going in, but as it turned out I had worked myself into a needless lather.

That said, the dealership bears a lot of responsibility for my concerns since early in the process I had asked to speak with someone in finance and I was stone-walled on that.

They said nobody knew about it.... They had to call Ford to figure it out and process it. I am closer though. I have a monthly payment amount now!

* grabs coffee .....

 

[JRT]

My dealer has now found the "options" and they are reading up on it. This is so painful.

Same issue with my dealership, they figured it out by the end of the day so really there is no reason this should be dragged out. FYI I don't think the online buy actually works as it send to the dealership to finish and when I did that they tried putting me in a 49 month traditional red carpet lease because it seems like they didn't understand the buy online and options program. Can't blame them to much there have sold only 6 in Huntsville so they really have no idea about the vehicle. I can get plenty of "help" on an F150 in Alabama....

 

[Sneezy]

I go pick it up tomorrow! They did take into account my down payment as well. Edit - I have a $2600 rebate.

 

[Motomax]

I was going to ask about this once I had my car as well. I'm maxing the down payment and would love to then pay off all but the residual/balloon (I think for maximum flexibility at the end if I don't want another Ford...??) to minimize the interest. I was actually planning to ask them how soon is too soon to avoid them getting penalized, but now I'm thinking they won't have a clue.

Were you able to find out how to do this?
The fact that they had to figure out how to apply the fed credit to the principal, I’m wondering if you try to pay off the principal of the loan part to save interest, the ballon payment will become due to close out the account.
If not, why would making a principal only payment of the fed credit be so complicated ?

 

[GrisGris]

Were you able to find out how to do this?
The fact that they had to figure out how to apply the fed credit to the principal, I’m wondering if you try to pay off the principal of the loan part to save interest, the ballon payment will become due to close out the account.
If not, why would making a principal only payment of the fed credit be so complicated ?

Sorry, what fed credit are you referring to? If you mean the income tax credit, I'm not sure how that comes into play here.

Based on this thread, I'm not optimistic that we can do anything to minimize interest other than what I've already done (max down payment). But I don't have any financing paperwork from them yet to start up loan servicing.

It just doesn't seem possible to pay everything short of the balloon/residual amount and sit idle for 3 years though.

 

[timbop]

Were you able to find out how to do this?
The fact that they had to figure out how to apply the fed credit to the principal, I’m wondering if you try to pay off the principal of the loan part to save interest, the ballon payment will become due to close out the account.
If not, why would making a principal only payment of the fed credit be so

Sorry, what fed credit are you referring to? If you mean the income tax credit, I'm not sure how that comes into play here.

Based on this thread, I'm not optimistic that we can do anything to minimize interest other than what I've already done (max down payment). But I don't have any financing paperwork from them yet to start up loan servicing.

It just doesn't seem possible to pay everything short of the balloon/residual amount and sit idle for 3 years though.

I think the concern is that they want to put the $7500 as more of a down payment. I believe @hybrid2bev has already mentioned that you can make an additional one-time payment during the loan for this very purpose, and the remaining payments (other than the balloon) are recalculated.

I am still struggling to understand the complaint with respect to paying off the loan other than the balloon payment. Is the expectation that Ford should wait 3 or 4 years to get the balance of their money without charging interest? That seems like an absurd position to take.

 

[GrisGris]

I think the concern is that they want to put the $7500 as more of a down payment. I believe @hybrid2bev has already mentioned that you can make an additional one-time payment during the loan for this very purpose, and the remaining payments (other than the balloon) are recalculated.

I am still struggling to understand the complaint with respect to paying off the loan other than the balloon payment. Is the expectation that Ford should wait 3 or 4 years to get the balance of their money without charging interest? That seems like an absurd position to take.

Speaking only for myself, I'd have zero issue with paying interest on the balloon payment for the full years. It's all the interim balance that I'd love to pay off early instead of paying interest on that portion.

Not following on the $7500 part at all since that is between buyer/taxpayer and IRS, but I'm sure something is just going straight over my head on that one!

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