Update to financing options?

[TheBluf]

It would be nice if someone was able to post the finance rates (not lease or options). My contact at the dealer must be on vacation, as I haven't heard back from them...

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[JTK44]

It's when you take delivery. But just so you know, in my area that same $2,500 incentive has been going on for months now, and every time it's set to expire, it automatically extends again for another month. So I'd expect it to keep on getting extended.

My own opinion: when the first MME are about to be delivered that $2,500 option will not be there.

FYI, when I confirmed my First Edition, the $2,500 was not there. But I have seen it be extended month by month, for other models, but always with the caveat: "From dealer inventory".

Again my opinion only, the $2,500 is nothing more than a "place holder" which when the final plans, finance, Option Plan and/or RCL come out it may or may not be there, or there may be other incentives.

I think we have to wait and see.

 

[timbop]

I hear you:

My point is that Ford cannot be serious about a RCL with an interest rate of 5.4%. It is not whether "I like it or not": an interest rate of 5.4% makes lease payments higher than the Option plan and that is assuming a high residual of 60%. No one who has ever leased or knows anything about leasing will go for a RCL with a monthly payment this high.

Without a RCL all that you have left is the purchase of the MME:

• Cash
• Finance
• Option Plan

That leaves those of us who lease out.

As he's mentioned ad nauseam, the information is accurate and he isn't responsible for the numbers - someone else sets them.

I don't think it is necessary to continue to badger him or repeat the refrain day after day - he cannot tell you anything different, nor can he change what exists. The RCL doesn't work for you and that isn't going to change no matter how many times you complain about it. Clearly the RCL is unacceptable for you and Ford has no other program that will satisfy your needs.

It is now up to you to decide what to do about it, following your own analysis to its logical conclusion.

 

[JTK44]

As he's mentioned ad nauseam, the information is accurate and he isn't responsible for the numbers - someone else sets them.

I don't think it is necessary to continue to badger him or repeat the refrain day after day - he cannot tell you anything different, nor can he change what exists. The RCL doesn't work for you and that isn't going to change no matter how many times you complain about it. Clearly the RCL is unacceptable for you and Ford has no other program that will satisfy your needs.

It is now up to you to decide what to do about it, following your own analysis to its logical conclusion.

If you think that EVBite is accurate then that is your opinion and you are entitled to it. Repeating as you say "the same refrain day after day" - quoting EVBites over and over again does not make their opinion a fact.

Using plain common sense, at least to me, and I think additionally anyone who has basic knowledges of leases knows that an interest rate of 5.4% in a lease is, without a substantial cap cost reduction provided by Ford, is a non starter.

Therefore I prefer to wait and see from Ford, not EVBite, whether their will be a RCL and if so the actual terms including residual, interest rates and whether or not the Federal Tax credit of $7,500 is included as a cap cost reduction.

.

 

[trutolife27]

hybrid2bev
is going to give you the inside info when he can on lease and other forms of payment. As soon as he has the green light he will pass it on. relax don't be a grinch. happy holidays.

 

[timbop]

If you think that EVBite is accurate then that is your opinion and you are entitled to it. Repeating as you say "the same refrain day after day" - quoting EVBites over and over again does not make their opinion a fact.

Using plain common sense, at least to me, and I think additionally anyone who has basic knowledges of leases knows that an interest rate of 5.4% in a lease is, without a substantial cap cost reduction provided by Ford, is a non starter.

Therefore I prefer to wait and see from Ford, not EVBite, whether their will be a RCL and if so the actual terms including residual, interest rates and whether or not the Federal Tax credit of $7,500 is included as a cap cost reduction.

.

never mind.

problem solved

 

[DaveRuns]

Trade In: I was thinking of just selling my 2015 Honda Accord at CarMax and using that as part of the down payment for the MME. Does anyone have any luck working out a trade value for their cars BEFORE the actual sale? Could you send in photos and mileage and have them give you an estimate? Just curious if the dealer can do better than CarMax.

 

[JTK44]

Trade In: I was thinking of just selling my 2015 Honda Accord at CarMax and using that as part of the down payment for the MME. Does anyone have any luck working out a trade value for their cars BEFORE the actual sale? Could you send in photos and mileage and have them give you an estimate? Just curious if the dealer can do better than CarMax.

I do not know how much effort (if any - it may be quite easy) it is to to sell to CarMax or a private party.

Keep in mind that unlike a deposit, a "trade in" is deducted from the cost of the vehicle for determining sales tax.

For example a $15,000 trade in when applied to your MME, at a tax rate of 8% will reduce your sales tax by $1,200 ($15,000 X 8%). That effectively is a savings of $1200.

You might want to wait and see what the dealer gives you on trade in vs. CarMax.

Of course if your state does not charge sales tax on a EV, disregard this post!

 

[DaveRuns]

I do not know how much effort (if any - it may be quite easy) it is to to sell to CarMax or a private party.

Keep in mind that unlike a deposit, a "trade in" is deducted from the cost of the vehicle for determining sales tax.

For example a $15,000 trade in when applied to your MME, at a tax rate of 8% will reduce your sales tax by $1,200 ($15,000 X 8%). That effectively is a savings of $1200.

You might want to wait and see what the dealer gives you on trade in vs. CarMax.

Of course if your state does not charge sales tax on a EV, disregard this post!

Oh trust me....Virginia charges sales tax on everything....to include EVs. Thanks for the tip though on trade in vs. down payment. Didn't realize that.

 

[hybrid2bev]

Oh trust me....Virginia charges sales tax on everything....to include EVs. Thanks for the tip though on trade in vs. down payment. Didn't realize that.

A trade in tax credit is not available in all of the U.S. so do your research for where you live.

 

[JTK44]

A trade in tax credit is not available in all of the U.S. so do your research for where you live.

Excellent point.

Sometimes I forget that every state is not like New York where I live.

 

[generaltso]

Excellent point.

Sometimes I forget that every state is not like New York where I live.

And some states (like Vermont) allow you to get the sales tax credit even if you sell your previous car to a private party. It just has to be within 90 days of the purchase of your new car (before or after).

 

[Badger_Prof]

Trade In: I was thinking of just selling my 2015 Honda Accord at CarMax and using that as part of the down payment for the MME. Does anyone have any luck working out a trade value for their cars BEFORE the actual sale? Could you send in photos and mileage and have them give you an estimate? Just curious if the dealer can do better than CarMax.

I will be disposing of my 2017 Bolt EV Premiere when I get my Mach-E. I got purchase quotes from CarMax, Carvana, Vroom, and my Ford dealer. The dealer beat Carvana and Vroom by over $1000 and CarMax by over $6000. My dealer took a quick look at my (excellent condition) Bolt, checked the auction data and made me the offer that is guaranteed in writing until I take delivery. The dealer's offer is straight-up and not dependent on the price of the Mach-E. In fact, he offered me an additional $500 if I would sell it to him outright right now. Not my typical dealer experience.

 

[Tsand4]

It's when you take delivery. But just so you know, in my area that same $2,500 incentive has been going on for months now, and every time it's set to expire, it automatically extends again for another month. So I'd expect it to keep on getting extended.

And just north of @jhalkias in the great state of Michigan we are only showing a $1k rebate plus 0.9% for 36 months.

 

[malba2366]

Usually, you are only eligible for whatever incentives are available at the time of purchase/delivery.

I was told Ford does not allow locking incentives. That is too bad, as many other manufacturers do allow it on an ordered vehicle. I would bet they will extend that, because it is looking like no one is getting a car by 1/4/21.

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