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

[GDN]

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.

I believe that sounds correct.

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[Amps]

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?

I guess you could say that it's like renting a house. You rented it and paid $xxxx to live there; you didn't build equity.

If Ford said the truck would be worth $25,000 (residual) and everybody in the new transaction agrees that it's worth $35,000, I guess you could buy a new vehicle with the miracle of paper and get the $10,000 credit to a new vehicle. There are fees involved, of course. If not, the other way works, too. You keep the vehicle by paying the residual ($25,000), then sell it to a willing buyer for $35,000 and do what you want with the $10,000.

 

[RickLightning]

Options is a loan, not a lease.

 

[Amps]

Options is a loan, not a lease.

Yep, a loan with a balloon payment, similar to a residual in a lease. The mechanics of the Options loan are similar to a lease. Ford agrees to take the vehicle back in lieu of paying the final balloon payment. The buyer meets the terms of the loan‘s return option by meeting vehicle condition and mileage restrictions if they are going to return the vehicle, like a lease.

The nuance allows the buyer to be the eligible party to claim the tax credit(s). Other companies claim the tax credits and reduce the vehicle purchase price that the lease payments are calculated upon. The buyer’s eligibility for tax credits when taking an option loan, or the way the lessor incorporates them into the lease are important considerations.

 

[Aspesi4]

Any updates on Ford Options and residuals for the month of July? Has anyone gone this route?

When I started considering financing options for the truck, the Ford Options program stood out as a way to keep payments low, reduce risk from the EV market resale and as a three year trial if an EV was for me. Now looking at the rates across the country going up and using traditional financing, payments are jumping up in size.

I'd love to explore the Ford Options program more, but it seems like no one is going that way or there's just no information publicized.

Thanks

 

[metroshot]

Any updates on Ford Options and residuals for the month of July? Has anyone gone this route?

When I started considering financing options for the truck, the Ford Options program stood out as a way to keep payments low, reduce risk from the EV market resale and as a three year trial if an EV was for me. Now looking at the rates across the country going up and using traditional financing, payments are jumping up in size.

I'd love to explore the Ford Options program more, but it seems like no one is going that way or there's just no information publicized.

Thanks

Originally, when I reserved over a year ago, I was excited about Ford Options.

Then now, I am bummed that Ford Options did not follow the lead of Mustang Mach EV as I really liked those terms (2.9% + $2500 incentive + decent residual values).

Guess Ford doesn't need to incentivize the hottest hit truck since the F150 came out....

Going to finance thru my CU.

 

[Aspesi4]

Originally, when I reserved over a year ago, I was excited about Ford Options.

Then now, I am bummed that Ford Options did not follow the lead of Mustang Mach EV as I really liked those terms (2.9% + $2500 incentive + decent residual values).

Guess Ford doesn't need to incentivize the hottest hit truck since the F150 came out....

Going to finance thru my CU.

Likely going through a CU is the way I'll end up going. My issue is the payment now. With Ford Options, I felt I could get something about $650 a month. Now through a CU it's $800 with a long term loan. My truck's build week is this month, so I won't be taking delivery until August. Maybe they'll help incentive the program by then.

 

[metroshot]

Likely going through a CU is the way I'll end up going. My issue is the payment now. With Ford Options, I felt I could get something about $650 a month. Now through a CU it's $800 with a long term loan. My truck's build week is this month, so I won't be taking delivery until August. Maybe they'll help incentive the program by then.

Long shot hoping for an incentive as many banks are raising rates due to the feds.

You may want to get a rate lock now before your truck arrives as rates are expected to rise again at the end of this month.

I am going into my CU this week to get a 60 day rate lock as my Lightning is arriving in a few weeks.

 

[Aspesi4]

Long shot hoping for an incentive as many banks are raising rates due to the feds.

You may want to get a rate lock now before your truck arrives as rates are expected to rise again at the end of this month.

I am going into my CU this week to get a 60 day rate lock as my Lightning is arriving in a few weeks.

Agreed. I've been looking for a lock longer the 30 days, but I've struggle to find any credit unions willing to do that.

 

[Aspesi4]

Anyone know of current residual values for the Lightning?

 

[GDN]

Have not heard of any changes, which means they are just as bad now as when first announced. They must plan on the Cybertruck putting them in their grave with the residuals poor they gave these trucks.

 

[sotek2345]

Anyone know of current residual values for the Lightning?

I have seen 50% for 36 months or 41% for 48 months, assuming 10,500mi/year.

Quite low for an F150, let alone a high demand vehicle like the Lightning.

 

[sotek2345]

Have not heard of any changes, which means they are just as bad now as when first announced. They must plan on the Cybertruck putting them in their grave with the residuals poor they gave these trucks.

I think they are just unsure and risk adverse. Tesla just came out and finally admitted that they can't hold the Cybertruck starting price.

 

[Aspesi4]

I have seen 50% for 36 months or 41% for 48 months, assuming 10,500mi/year.

Quite low for an F150, let alone a high demand vehicle like the Lightning.

One thing to factor in to all this is the Federal and State Rebates. Massachusetts and Federal total 15k of incentives. That alone would impact the residual.

 

[sotek2345]

One thing to factor in to all this is the Federal and State Rebates. Massachusetts and Federal total 15k of incentives. That alone would impact the residual.

I wish NY was as generous as MA. We only get $500.

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