A question about 2018 current incentives
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A question about 2018 current incentives
I am purchasing a 2018 F150 Platinum 4x2 and need some help understanding the incentives. There appears to be a $750 Cash Back rebate, which the dealer agrees. There is a $750 Cash offer with Ford Credit financing. The dealer says that that offer is either $750 or 2,9% for 60 months. I read it as both. Need some help.
Member
Joined: Dec 2017
Posts: 87
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From: Royal Oak MI
[QUOTE=sterw;5648593]
Do some math. Ask the dealer to calculate the amount of interest to be paid for 60 months at 2.9%. Then see what you can do at a bank or CU. Compare it to the $750 rebate and see what you like better.
I believe Ford Credit will only finance up to 95% of the cost of the truck. The buyer must come up with the remaining 5%.
Also, if there is a change in incentives from the time your order the truck and receiving it, I believe you have the option of keeping or rejecting the newer incentive. Again, ask your dealer about this.
I wouldn't dally about ordering the truck. According to my dealer, it's taking 12-14 weeks to build a Lariat and 16-18 weeks for a Platinum or Limited; Kings take longer. A Platinum ordered today might not arrive until July.
Good luck.
I am purchasing a 2018 F150 Platinum 4x2 and need some help understanding the incentives. There appears to be a $750 Cash Back rebate, which the dealer agrees. There is a $750 Cash offer with Ford Credit financing. The dealer says that that offer is either $750 or 2,9% for 60 months. I read it as both. Need some help.
[/QUOTEDo some math. Ask the dealer to calculate the amount of interest to be paid for 60 months at 2.9%. Then see what you can do at a bank or CU. Compare it to the $750 rebate and see what you like better.
I believe Ford Credit will only finance up to 95% of the cost of the truck. The buyer must come up with the remaining 5%.
Also, if there is a change in incentives from the time your order the truck and receiving it, I believe you have the option of keeping or rejecting the newer incentive. Again, ask your dealer about this.
I wouldn't dally about ordering the truck. According to my dealer, it's taking 12-14 weeks to build a Lariat and 16-18 weeks for a Platinum or Limited; Kings take longer. A Platinum ordered today might not arrive until July.
Good luck.
Senior Member
Joined: Dec 2013
Posts: 14,975
Likes: 6,035
From: SE Michigan
Ford's incentives differ by region, and by trim. So you can't ask a general question like you did.
Ford's incentives are located here: https://shop.ford.com/showroom/?gnav...e=incentives#/
Normally, Ford Credit will offer an incentive to use their financing. That incentive almost always is at the FULL RATE that you qualify for (qualify based on credit worthiness). If you take a REDUCED RATE, you usually LOSE that credit.
Ask the dealer to print out a Smart Vincent report on the truck, it will show all rebates that you are eligible for. The good news is that the dealer doesn't decide, Ford does.
With a reduced (or zero) rate financing offer in which the rebate is eliminated, it is usually worth taking the normal higher financing rate and the rebate, then refinancing the same week at a local credit union. Note - some dealers are not honest and tell customers they must keep the loan for 90 days to have the rebate. That is a lie - the 90 day period is for the dealer to get their incentive from Ford. The customer can refinance in a matter of days.
As to the 95%, that is incorrect. Someone with good credit can finance 100%.
Yes, your dealer can lock in today's incentives if you order, and that at delivery you get whichever group of rebates work out better. The dealer has to lock them in, it is not automatic.
Ford's incentives are located here: https://shop.ford.com/showroom/?gnav...e=incentives#/
Normally, Ford Credit will offer an incentive to use their financing. That incentive almost always is at the FULL RATE that you qualify for (qualify based on credit worthiness). If you take a REDUCED RATE, you usually LOSE that credit.
Ask the dealer to print out a Smart Vincent report on the truck, it will show all rebates that you are eligible for. The good news is that the dealer doesn't decide, Ford does.
With a reduced (or zero) rate financing offer in which the rebate is eliminated, it is usually worth taking the normal higher financing rate and the rebate, then refinancing the same week at a local credit union. Note - some dealers are not honest and tell customers they must keep the loan for 90 days to have the rebate. That is a lie - the 90 day period is for the dealer to get their incentive from Ford. The customer can refinance in a matter of days.
As to the 95%, that is incorrect. Someone with good credit can finance 100%.
Yes, your dealer can lock in today's incentives if you order, and that at delivery you get whichever group of rebates work out better. The dealer has to lock them in, it is not automatic.