Ford Lightning Financing incentives
- Thread starter frunk
- Start date
M3Master
Member
I would seriously
I would seriously doubt that on a brand new model. Just like financing offers usually exclude Shelbys. Ford will probably offer a crap 5%+ financing rate. They usually pair that with a few thousand in incentives which I'm not sure they will do at all on the Lightening when it releases. Best bet is to either take the 5% or whatever and immediately refinance(you don't have to wait the 3 months like they tell you to) at 2.9%. Or just get pre-approved before you go in at your local bank or CU.
F150⚡️Jorge
New member
I heard that they were going to offer balloon financing just like the Mach-e.
- Thread Starter
- Thread starter
- #5
What is balloon Financing
F150⚡️Jorge
New member
If a loan has a balloon payment then the borrower will be able to save on the interest cost of the interest outflow every month. For example, person ABC takes a loan for 10 years. ... The sum total payment which is paid towards the end of the term is called the balloon payment.
I saw there would be an option to do all the purchasing / financing directly online with Ford - if one did that, how is the down payment collected? They aren't going let people slap down their credit card. Did anyone purchase a Mach-E completely online when it was ready? - if so how did it work
M3Master
Member
I didn't know you could do that. I would much prefer that to dealing with often sleazy dealers(not all but often).
fryguy_pa
New member
I would expect to see the Ford Options plan made available for this truck as well. Give us a "lease-like" option while allowing us to claim the federal tax rebate and have the option of turning the truck in at the end or paying the balloon payment.
M3Master
Member
It's interesting that there is legislation floating around putting the limit at $40k. Another one putting the limit at $80k and yet more paperwork limiting the income of the buyer. All this done after the President was pushing incentives for buying EVs while driving the Lightning prototype. I don't want to start any political talk...just found it ironic.
Because the Lightning may be excluded from so many tax incentives now, I really hope Ford does make more financing options available when the time comes. They would almost have to make these known at the time you place the order.
Its been mentioned that the Lightning buying experience could be similar to that of the Mach-E . A user over in the Mach-E forum (macchiaz-o) posted this excel spreadsheet to help budget planning. Use at your own risk. He did a great job of including the Ford Options pricing models. I found it useful to help me try to figure out where I want my payments to fall. Modify the colored cells as you need.
I wasnt able to attach the excel sheet. My permission in the forum ?
M3Master
Member
astricklin123
New member
The biggest question with the ford option plan for the lightning will be what is the residual. I would expect early on the residual will be fairly high as there's a good chance they will be sold out of production 3 years or more.
