Ford Options - Current Financing Interest Rate & Residuals on 2022 F-150 Lightning

Mb9182 · Jun 2, 2022

Seems like there’s not a whole lot of information out there on financing through Ford or their Options program.

My sales rep sent me some numbers.

60 month interest rates are 4.49%

72 month interest rates are 5.49%

Ford Options on a 36 month deal with 10,500 miles has a 50% residual. 48 month is a 41% residual.

It didn’t list the interest rate, just monthly payments. Nothing looks worthwhile in these numbers, most likely going to go 3rd party financing.

I’m going in tomorrow morning to go into more details and see what they have to say.

detroitlightning · Jun 2, 2022

Thanks for sharing. Yeah, any credit union will likely blow those rates out of the water…

astricklin · Jun 2, 2022

Does anyone know of a third party leasing company that will pass along the tax credit? Nissan and VW pass through the credit in their leases. Chevy sort of did when they had credits available. Ford has chosen to not offer a lease on their BEVs.

F150LER · Jun 2, 2022

Mb9182 said:
Seems like there’s not a whole lot of information out there on financing through Ford or their Options program.

My sales rep sent me some numbers.

60 month interest rates are 4.49%
72 month interest rates are 5.49%

Ford Options on a 36 month deal with 10,500 miles has a 50% residual. 48 month is a 41% residual.

It didn’t list the interest rate, just monthly payments. Nothing looks worthwhile in these numbers, most likely going to go 3rd party financing.

I’m going in tomorrow morning to go into more details and see what they have to say.

What monthly payment did they give?

Postman · Jun 2, 2022

Mb9182 said:
Seems like there’s not a whole lot of information out there on financing through Ford or their Options program.

My sales rep sent me some numbers.

60 month interest rates are 4.49%
72 month interest rates are 5.49%

Ford Options on a 36 month deal with 10,500 miles has a 50% residual. 48 month is a 41% residual.

It didn’t list the interest rate, just monthly payments. Nothing looks worthwhile in these numbers, most likely going to go 3rd party financing.

I’m going in tomorrow morning to go into more details and see what they have to say.

I was told 4.9%, UP TO 72 months on both traditional financing and Ford Options. Since Ford Options is a purchase with a balloon payment (that’s my understanding), why would there be an annual mileage limit? Maybe I’m wrong or missing something. Either way, I agree, the numbers are not attractive at all.

sotek2345 · Jun 3, 2022

Postman said:
I was told 4.9%, UP TO 72 months on both traditional financing and Ford Options. Since Ford Options is a purchase with a balloon payment (that’s my understanding), why would there be an annual mileage limit? Maybe I’m wrong or missing something. Either way, I agree, the numbers are not attractive at all.

The annual mileage just sets the buyback price and therefore the balloon payment.

Sdctcher · Jun 3, 2022

The only ways Ford Options makes sense are:

1. You cannot qualify for a higher monthly payment because of income, debt, or credit score; or
2. You plan on paying off the lease early or refinancing in a few months; or
3. You do not trust that resale values will stay high and want to transfer risk to Ford; or
4. By the time your truck arrives Ford rates become competitive.

I ran the monthly payment schedule on both 36 and 48 months and the 36 month was actually lower because of the much lower 41% residual.

I just locked in a 60 month 2.89% with my credit union. The credit union direct route would give me a 30 day lock but the dealer guaranteed a 90 day lock through the same credit union.

My deal = $25k down, finance 60k with 63 monthly payments of $1,027.80.

Some credit unions will lock 30 - 90 days.

Expect marketplace rates to increase by up to 1/2 point by the end of June, and another 1/2 point by the end of July. Then, who knows?

Mb9182 · Jun 3, 2022

Sdctcher said:
The only ways Ford Options makes sense are:

1. You cannot qualify for a higher monthly payment because of income, debt, or credit score; or
2. You plan on paying off the lease early or refinancing in a few months; or
3. You do not trust that resale values will stay high and want to transfer risk to Ford; or
4. By the time your truck arrives Ford rates become competitive.

I ran the monthly payment schedule on both 36 and 48 months and the 36 month was actually lower because of the much lower 41% residual.

I just locked in a 60 month 2.89% with my credit union. The credit union direct route would give me a 30 day lock but the dealer guaranteed a 90 day lock through the same credit union.

My deal = $25k down, finance 60k with 63 monthly payments of $1,027.80.

Some credit unions will lock 30 - 90 days.

Expect marketplace rates to increase by up to 1/2 point by the end of June, and another 1/2 point by the end of July. Then, who knows?

This is pretty much the route I think I’ll go. I did Ford Options on my Mustang Mach E because I knew it was going to be short term and they gave $2500 rebate (offset the $2k markup over msrp).

I’m not sure if this will be a long term truck for me or not, but I am pretty confident it’s going to have unusually high value over the next year for sure, maybe 2.

metroshot · Jun 3, 2022

Mb9182 said:
This is pretty much the route I think I’ll go. I did Ford Options on my Mustang Mach E because I knew it was going to be short term and they gave $2500 rebate (offset the $2k markup over msrp).

I’m not sure if this will be a long term truck for me or not, but I am pretty confident it’s going to have unusually high value over the next year for sure, maybe 2.

I was really hoping Ford Options would be the ticket for me based on the MME incentives & rates.

Guess Ford will lose out on their financing arm when I get my CU to give me the loan.

GDN · Jun 3, 2022

Sdctcher said:
The only ways Ford Options makes sense are:

1. You cannot qualify for a higher monthly payment because of income, debt, or credit score; or
2. You plan on paying off the lease early or refinancing in a few months; or
3. You do not trust that resale values will stay high and want to transfer risk to Ford; or
4. By the time your truck arrives Ford rates become competitive.

I ran the monthly payment schedule on both 36 and 48 months and the 36 month was actually lower because of the much lower 41% residual.

I just locked in a 60 month 2.89% with my credit union. The credit union direct route would give me a 30 day lock but the dealer guaranteed a 90 day lock through the same credit union.

My deal = $25k down, finance 60k with 63 monthly payments of $1,027.80.

Some credit unions will lock 30 - 90 days.

Expect marketplace rates to increase by up to 1/2 point by the end of June, and another 1/2 point by the end of July. Then, who knows?

I'm along these same lines for financing. I have a 2.79% for 72 months locked as of yesterday. I've got $25 to $30k equity in my current car, but am considering only $10K down and investing the other $15K. It's about timing of the markets - they are way down. If they were to have even half a bounce back like they did 2 years ago I could pay for a good chunk of the truck vs dumping the money directly into it.

It is simply about timing of the markets and when will they bounce back and what do you invest in? Call me crazy, but I still think it is $TSLA.

Yellow Buddy · Jun 3, 2022

Mb9182 said:
Ford Options on a 36 month deal with 10,500 miles has a 50% residual. 48 month is a 41% residual.

I would like to hereby offer anyone on the forum who's taking delivery to buy out their Ford F150L with 10,500 miles on it for 55% residual after 3 years, especially Pro owners.

$40,000 - $7500 * .55 = $14,500. Yup, I'll draft a contract. Any takers?

MickeyAO · Jun 3, 2022

I really don't understand the residual...is that what Ford will say it is worth IF I buy the next vehicle from them? Return that amount to me as if I sold the car to a buying service? I'm really clueless about this.

Amps · Jun 3, 2022

MickeyAO said:
I really don't understand the residual...

Simplest way I know to put it is that the residual is the guaranteed sales price that you pay to buy the vehicle at the end of the lease period. If you don't want to buy the car, or it is worth less than the residual, you can walk away.

metroshot · Jun 3, 2022

MickeyAO said:
I really don't understand the residual...is that what Ford will say it is worth IF I buy the next vehicle from them? Return that amount to me as if I sold the car to a buying service? I'm really clueless about this.

Think of it as a pre-set value of the vehicle after the closed end lease contract ends.
You pay for the depreciation during the lease and if you want to buy it out (because the value is greater the residual value) just pay the bank to own it.

If you either don't want it anymore or the value is less than the residual, then you can turn her back into the leasing bank (usually it's the dealer).

Most of my leases have returned back to the bank but my recent PHEV lease is a winner to buy out (Honda Clarity PHEV) because the value is double the residual.

MickeyAO · Jun 3, 2022

So if it is worth less than the residual, I walk away and have no equity in a vehicle for the next one as a down payment? Even if it is worth more, do I have to buy it to get that equity?

As I said, I am clueless about how this works.

Ford Options - Current Financing Interest Rate & Residuals on 2022 F-150 Lightning

Mb9182

Member

detroitlightning

Active member

astricklin

Well-known member

F150LER

Well-known member

Postman

Member

sotek2345

Well-known member

Sdctcher

Well-known member

Mb9182

Member

metroshot

Well-known member

GDN

Well-known member

Yellow Buddy

Well-known member

MickeyAO

Well-known member

Amps

Well-known member

metroshot

Well-known member

MickeyAO

Well-known member

Similar threads