Ford Options Financing

[Aspesi4]

Has anyone explored or gone with the Ford Options financing? My trucks being built this week, so I'm starting to consider my options.

I know it may not be the best deal out there, but the lower monthly payments and the ability to walk away after 36 or 48 months is attractive.

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[RickLightning]

Many Mach-E owners have. Do you have a specific question?

 

[sotek2345]

We used it for our Mach-e, but it was a much better deal for that. If lower monthly payments are your goal and you have decent credit, longer term (6+ years) traditional financing seems to get you the lowest number. The Ford interest rates are just so high, and the residuals so low, that the options numbers just don't work out.

 

[Theo1000]

I did on my Lightning. Though I had to walk my dealer thru parts of the process. You are going to have to push for it though.

The numbers work if you put a large chunk of cash down and plan to buy out the vehicle. Otherwise the mileage limits themselves may cause you headaches.

 

[metroshot]

When was your order placed ?

That determines what rate you can choose from.

Your dealer will have to pull up Smart VINCENT to show you the choice between rates when you ordered and current rates.

 

[Pioneer74]

When was your order placed ?

That determines what rate you can choose from.

Your dealer will have to pull up Smart VINCENT to show you the choice between rates when you ordered and current rates.

You also have to keep in mind that Ford Options on the Lightning never had a special rate like the Mach-E. It's always been the standard Ford Credit rate.

 

[metroshot]

You also have to keep in mind that Ford Options on the Lightning never had a special rate like the Mach-E. It's always been the standard Ford Credit rate.

Yes, I know that Lightnings never got any subvented rates nor cash incentives, but if the OP had placed his order early on, he may benefit from the lower interest rates compared to the present....

Would be interesting to see if a January order beats the rate currently ?

 

[Aspesi4]

When was your order placed ?

That determines what rate you can choose from.

Your dealer will have to pull up Smart VINCENT to show you the choice between rates when you ordered and current rates.

Is this true? So you're saying since I placed the order back in February, the rates are based on that time period instead of today's rates?

 

[Pioneer74]

Is this true? So you're saying since I placed the order back in February, the rates are based on that time period instead of today's rates?

Only through Ford Credit.

 

[Amps]

When was your order placed ?

That determines what rate you can choose from.

That's interesting. And, probably why the rates opened up so high when the numbers furst firmed up for Ford Options a few months ago.

 

[astricklin]

I'm curious why Ford residual is so low. There's no way in the current market this truck is losing 50% in 3 years. They still will be struggling to meet demand.

 

[gorwell]

Only through Ford Credit.

Is there some place to look that has those rates listed in a past month?

 

[Griddlez]

Only through Ford Credit.

And I think Ford Credit usually has their best rate right around 72? 84 months jumps up a bit if I recall from my last purchase, last year.

 

[SmoothJ]

@Theo1000 I want to go the Ford Options route, but the dealership is trying to convince me otherwise saying the math doesn't make sense, and its best to do 84 months instead (which is scary), and pay off a bit more every payment. I know this is a common sales tactic, however he could be right. For 4 years, the residual is 38% I think.

 

[Aspesi4]

That's my

@Theo1000 I want to go the Ford Options route, but the dealership is trying to convince me otherwise saying the math doesn't make sense, and its best to do 84 months instead (which is scary), and pay off a bit more every payment. I know this is a common sales tactic, however he could be right. For 4 years, the residual is 38% I think.

That's what I'm trying to figure out. If you go with an 84 month loan, which I know doesn't make tons of financial sense but I'd argue an 80k truck doesn't either, it's similar to the Ford Options. The only difference is you don't have a pre-negotiated number to trade it in. If you do 36 months on the options, you still have a massive balloon payment that needs to be likely financed over another 3-4 years. You might as well go 84 months financing unless you really like a lease like agreement with no long term risk. You can just walk away.

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