Mach-E Forum | Ford Mustang Mach-E Forum and News banner

41 - 50 of 50 Posts

·
Registered
Reserved First Edition Rapid Red Metallic
Joined
·
1,425 Posts
Discussion Starter #41
I did not try applying for credit directly on Ford.com. I did use the online calculator. I could not estimate an FE. However, for a premium with MSRP $56,640, 12,000 miles per year, ($10,550 down payment) , and total financing of $45,090, at 2.25%, with $1000 incentive included, the Monthly payment estimated was $643.91. Ballon was $24,921. See attachment.

My FE MSRP is$ 59400, and I am putting $18,000 down, for a 36 month Ford Option with 12K miles per year.
Attached is the "Ford Option" Payment Estimation that my dealer used today for a 36 month 12K miiles with $18,000 down payment. There is no $1000 cash incentive with this deal and the interest rate is 5.4. Monthly $485.73 (see attachment ) and the balloon is $34,452. (58% of MSRP $59,400).
Your dealer is using the lease calculator, 5.4% interest and a residual of 58%
 

·
Registered
Joined
·
12 Posts
As of Friday, 12 Feb, my dealer (in NY) did not see the Options plan set up on their system.
So the leasing calculator is NOT what should be used. However, they insist that is the Ford Option Plan available. They can’t find the 2.25 rate nor the $1,000 Program incentive cash #13896.
I did apply for credit online. Got approved a second time. Ford Credit sent my approval to the dealer. I hope the finance manager can work the deal out with the incentives etc.
 

·
Registered
Joined
·
12 Posts
That is strange. I did the Ford Option and got 2.25%. Have you tried applying for credit directly on Ford.com using their online Ford Credit application? I accidentally did both and the second time, my dealer called to let me know I was approved for the Ford Option. You should try that and then call Ford Finance to confirm. Caveat: the 2.25% is based on how good credit is.
I applied online again. My credit score is excellent.
Could it be my dealer is using a lease calculator, using 5.4% rate and a 58% residual? NO cash incentive was found using my dealer’s program. Now that I am approved by Ford Credit too, I have contacted them directly.
 

·
Registered
Reserved First Edition Rapid Red Metallic
Joined
·
1,425 Posts
Discussion Starter #45
I applied online again. My credit score is excellent.
Could it be my dealer is using a lease calculator, using 5.4% rate and a 58% residual? NO cash incentive was found using my dealer’s program. Now that I am approved by Ford Credit too, I have contacted them directly.
The residual 58% and interest rate of 5.4% is a LEASE

Presently Ford is not putting any part of the FTC of $7,500 into the lease.

The Option Plan is a finance plan with interest at 2.25% with incentives. Because it is a finance plan you are the owner. As the owner you will get the FTC.

The monthly payments under the Option Plan are less than under the lease.
 

·
Registered
Joined
·
12 Posts
As of Friday, 12 Feb, my dealer (in NY) did not see the Options plan set up on their system.
This is the problem I am running into, they say they can’t find it. I used the Ford.com Ford Option calculator using a NJ zip code and the cash incentive is $2,500 for that area.
 

·
Registered
Joined
·
920 Posts
So the leasing calculator is NOT what should be used. However, they insist that is the Ford Option Plan available. They can’t find the 2.25 rate nor the $1,000 Program incentive cash #13896.
I did apply for credit online. Got approved a second time. Ford Credit sent my approval to the dealer. I hope the finance manager can work the deal out with the incentives etc.
Our dealer sales specialist was completely transparent with us.... showed me the setup screens. So it seems it's a problem with Ford Credit and not the dealer.

Mach E is missing from many insurance companies' drop down menus as well.
 

·
Registered
Reserved First Edition Rapid Red Metallic
Joined
·
1,425 Posts
Discussion Starter #48
This is the problem I am running into, they say they can’t find it. I used the Ford.com Ford Option calculator using a NJ zip code and the cash incentive is $2,500 for that area.
Do not give up!

The OP is there for NJ.

Make the dealer find it!
 

·
Registered
Joined
·
49 Posts
I applied online again. My credit score is excellent.
Could it be my dealer is using a lease calculator, using 5.4% rate and a 58% residual? NO cash incentive was found using my dealer’s program. Now that I am approved by Ford Credit too, I have contacted them directly.
They definitely are not using the Ford Option estimation tool correctly. As another member mentioned, the residual for 3-year option is 43% with a 2.25% interest. This is as of my purchase 4 days ago. And as you can see from the Ford calculator, the $1,000 incentive is given (or $1,100 when you include the drive assist). In NY, we get $2,500 plus $100.

Stay on them to make it right. By the way, I also purchased the FE. One error some dealers seem to be making is thinking that the FE is not a premium model. In fact, FE is a trim of the premium model. Have some patience being so close to the end, as dealers are really lacking knowledge in this new process.
 

·
Super Moderator
Joined
·
2,257 Posts
This is the problem I am running into, they say they can’t find it. I used the Ford.com Ford Option calculator using a NJ zip code and the cash incentive is $2,500 for that area.
Tell them its program #21220. Good through 3/31.
 
  • Like
Reactions: Marki
41 - 50 of 50 Posts
Top