Why Ford Options, will the GTs make the EV Credit and NOVA car buying experiences

[Turby3Pots]

Greetings,

I have a reservation I just created a month ago for a GT.


I have done the following:

• gotten the membership at MCOA
• confirmed with the dealership that they don't intend to apply ADM
• that they do honor X-plan
• the deductible is non-refundable.

I intend to finance the car (eventually owning it outright) through my credit union with the following choices:

Model Year	Loan Type	Term	APR (1) as low as
2020 - 2021	Fixed	Up to 36 months	2.14%
2020 - 2021	Fixed	Up to 48 months	2.74%
2020 - 2021	Fixed	Up to 60 months	2.89%
2020 - 2021	Fixed	Up to 72 months	2.99%
2020 - 2021	Fixed	Up to 84 months	4.49%

*Rate discount offer of 0.15% will be applied based on the applicant's qualified rate. The loan must be funded within seven (7) business days to qualify for rate discount offer

But I see a lot of talk on this website about Ford Options, and I'm curious to know why someone would consider this route. Are these buyers that would typically have leased anyway but would like to take advantage of the $7,500 that the Ford Options offers? Or do many of the people that utilize Ford Options actually intend to purchase the car outright in the end and there is an angle I'm missing with Ford Options. Any insight would be greatly appreciated.

Another thing I didn't fully understand and have attempted to research here before asking is whether the X-plan pricing will show up when I go to confirm the order? I don't want the dealership to claim to honor X-plan but then deny me later so they can ADM the rejected car for profit. I foolishly bought the reservation before joining here and unfortunately the reservation does not show the pricing like it did when you first confirm (but I do remember being perplexed at a line that said "difference from MSRP: $0")

Also, is there anything other than the aforementioned steps I've taken above that I need to do to prepare?

Are they going to offer GT in levels like Premium or is GT one step above premium and $62k MSRP is the fully loaded model? Seems like $62k for a GT is a good deal, only a few thousand more than the "V6" model below it.

Any thoughts on when the EV credit will run out, or will 2022 MME's receive the EV credit? I have not found any article online showing the numbers left for Fords.

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[shutterbug]

But I see a lot of talk on this website about Ford Options, and I'm curious to know why someone would consider this route. Are these buyers that would typically have leased anyway but would like to take advantage of the $7,500 that the Ford Options offers? Or do many of the people that utilize Ford Options actually intend to purchase the car outright in the end and there is an angle I'm missing with Ford Options. Any insight would be greatly appreciated.

I plan to keep the car long term. However, this is Ford's first effort. I've no idea what issues might come up. If the car turns out to be crap, I like the idea of having a minimum guaranteed sale price. I plan to take the amount of the buyout and save it until the decision time.

 

[Turby3Pots]

I plan to keep the car long term. However, this is Ford's first effort. I've no idea what issues might come up. If the car turns out to be crap, I like the idea of having a minimum guaranteed sale price. I plan to take the amount of the buyout and save it until the decision time.

How much more $$ will it cost you to buy at the end of the Ford Options lease over having bought it outright initially?

 

[buffasnow]

How much more $$ will it cost you to buy at the end of the Ford Options lease over having bought it outright initially?

1. You may have misspoke, but Options is not a lease, you are purchasing the car. It just smells like a lease.
2. How much you pay in residual as your final Options payment depends on what term/mileage you choose. There are many examples of how this works in previous Options threads.

You can calculate the Options costs (including the $1000 or $2500 incentive) for various terms/mileages, and then compare that to straight traditional financing at various terms (0.9% available from Ford for 36 or 48, I believe, if you qualify). Even if you intend to pay cash, using Options and then paying off the remainder of the loan in a few months will probably save some money due to the $1000/$2500 Options incentive. You have to crunch the numbers to see what works for you.

 

[SONEWBE]

Greetings,

I have a reservation I just created a month ago for a GT.


I have done the following:

• gotten the membership at MCOA
• confirmed with the dealership that they don't intend to apply ADM
• that they do honor X-plan
• the deductible is non-refundable.

I intend to finance the car (eventually owning it outright) through my credit union with the following choices:

Model Year	Loan Type	Term	APR (1) as low as
2020 - 2021	Fixed	Up to 36 months	2.14%
2020 - 2021	Fixed	Up to 48 months	2.74%
2020 - 2021	Fixed	Up to 60 months	2.89%
2020 - 2021	Fixed	Up to 72 months	2.99%
2020 - 2021	Fixed	Up to 84 months	4.49%

*Rate discount offer of 0.15% will be applied based on the applicant's qualified rate. The loan must be funded within seven (7) business days to qualify for rate discount offer

But I see a lot of talk on this website about Ford Options, and I'm curious to know why someone would consider this route. Are these buyers that would typically have leased anyway but would like to take advantage of the $7,500 that the Ford Options offers? Or do many of the people that utilize Ford Options actually intend to purchase the car outright in the end and there is an angle I'm missing with Ford Options. Any insight would be greatly appreciated.

Another thing I didn't fully understand and have attempted to research here before asking is whether the X-plan pricing will show up when I go to confirm the order? I don't want the dealership to claim to honor X-plan but then deny me later so they can ADM the rejected car for profit. I foolishly bought the reservation before joining here and unfortunately the reservation does not show the pricing like it did when you first confirm (but I do remember being perplexed at a line that said "difference from MSRP: $0")

Also, is there anything other than the aforementioned steps I've taken above that I need to do to prepare?

Are they going to offer GT in levels like Premium or is GT one step above premium and $62k MSRP is the fully loaded model? Seems like $62k for a GT is a good deal, only a few thousand more than the "V6" model below it.

Any thoughts on when the EV credit will run out, or will 2022 MME's receive the EV credit? I have not found any article online showing the numbers left for Fords.

I was originally planning to pay cash but I decided to go with the 3 year Ford Options plan. I'm going to put down 30% (the max) to reduce finance costs. With the $1K option credit, the total interest payments with be around $1K more than ford's financing rate of .9% or $2K more than a cash purchase. I believe I'll make this up in prudent investing of the lower cash outlay. The big benefit is the guaranteed buy back at the end of the 3 year term. I plan to pay-off the balloon payment, but you never know. The guaranteed residual is not bad when you factor in the actual MME cost after options credit, X-plan and tax rebates ($10K in Oregon).

I don't believe Ford will start losing the federal tax credit until early 2022. And, it's likely to be expanded with new legislation.

 

[shutterbug]

How much more $$ will it cost you to buy at the end of the Ford Options lease over having bought it outright initially?

I am estimating that my cash price will be $63K. If I use 48 month Options, Total will around $65K. If I take Ford's 48 month financing, the total will be $64K. All that assuming maximum down payment.

 

[sockmeister]

How much more $$ will it cost you to buy at the end of the Ford Options lease over having bought it outright initially?

I'm using Ford Options. There is a $2500 credit to use it - and with 2.25% interest and the maximum down payment allowed, there will be a net zero cost in interest. It's essentially zero APR interest financing, except you technically own the car, so you're permitted to claim the $7500 tax credit.

Yes, that's the main reason Ford is offering options on this car -- you're eligible for the full tax credit.

 

[ARK]

The only two trims for the GT will be the standard GT and the Performance Edition. Trim might be overstating it a little bit given the nature of the differences, more like a performance package that you can add on. See here.

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