Maverick Financing / Lease Guaranteed Approval Program [Valid Until March 31, 2022]

[BILLNOROVILLE]

The 60 month interest rate at 1.9% will end on 10/4 my truck won’t be delivered by then

I went to dealer and locked in the 1.9% already. My order is now locked. I'm not changing my mind and though 1.9% was ok to finance 1/3 to half of it because the monthly payment of about 225.00 fits my budget fine since my 0% Prius budgeted loan was 237.00 and will be paid off in 3 months.

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[brnpttmn]

how intelligent is it to have a $400+/mo payment when you lose your job, have a major medical bill not covered by insurance, get a divorce, stock market crashes, or the economy goes to shit? What about qualifiying for a new house loan where they examine your income to debt ratios? What you think is a free ride instantly turns to a big liability.

Probably not too intelligent to pay $25-30K lump cash in those circumstances either.

 

[Chrissyd101213]

Flex Buy
Flex Buy is a Ford Credit-exclusive payment structure focused on providing lower payments for the first three years when compared with a standard retail contract.

Financing That Fits Your Budget
Flex Buy is offered with 66- or 75-month terms. Your first 36 months of payments are discounted by 15% or 18%, while higher later payments allow for your full balance to be satisfied.

The Benefits

• No mileage limitations
• Freedom to customize your vehicle
• Lower payments for the first three years
• Build equity with each payment
• Two term choices
• Two payment discount choices

Flex Buy is unavailable in Maine, Michigan, New Hampshire, North Carolina, Ohio, Pennsylvania, Virginia and Washington, D.C.

So, for someone like me, who usually only keeps a vehicle for about 3 years, this just seems great.

 

[Down]

The funny part is they thought they were bragging but actually they're just showing how they're not that intelligent with money lmao. Anyone who would turn down 36mo at 0% to finance a car outright doesn't know how to make their money work for them or is wayyyy too afraid of debt.

OTOH, given the fact that the average person is EXACTLY that, pretty unintelligent with money, it may not be a point of bragging but for many, it is probably a good idea to pay as much upfront cash as possible.

Cuz you know the average person isn't going to wisely invest that money they're keeping ahold of by financing, they're just gonna blow it on other shit that likely depreciates at an even faster rate than a car and will be in worse shape a few years later than if they'd paid cash.

With that said, I'm not TOO bad with money, so I'll take 48 months at .9% and prolly pad each monthly payment with an extra 100-200 bucks to try and pay it off a bit early, while keeping a relatively low payment "just in case" something happens.

 

[WasChops]

Sorry, I have no idea, from this information - graphic - what the Finance terms are which are being offered. I am definitely top tier and if it is 0.0% for for just 1 year... I will do that all day long! This is free money and it is a boost to your Credit score when you pay it off. I was going to use my Credit Union, but heck this is easier, convenient and simple stupid at 0.0%!!

 

[huunvubu]

Why would you pay cash on a car, when you can get 36 months zero interest? Put that money somewhere where it can build compound interest. Let that money make you money.

The current offer of 0% for 36 months expires in October.

If a new offer of 0% for 36 months is available in December when my Maverick XLT Hybrid is delivered I will take the offer as long as there are no fees associated with the 0% loan. If there are fees then I will pay all cash.

I am trading-in/selling outright my 2015 Honda Fit EX that I currently have and have an offer to buy outright for $12,500 from AutoNation Honda in Lewisville TX so that will lower my overall cost for my new Maverick.

 

[brnpttmn]

So, for someone like me, who usually only keeps a vehicle for about 3 years, this just seems great.

Seems great, but it's probably not. You're just paying less principal in the end. You might even be underwater on the car by the end of three years because you've paid a couple thousand less in principle.

 

[Old Ranchero]

Probably not too intelligent to pay $25-30K lump cash in those circumstances either.

you would be right if I was unprepared for those circumstances and had nothing saved and other big bills and struggling to survive. I'll be buying my Maverick with unexpected windfall profits from an old house I'm selling, so it's not even a factor in our financial situation.

 

[brnpttmn]

you would be right if I was unprepared for those circumstances and had nothing saved and other big bills and struggling to survive. I'll be buying my Maverick with unexpected windfall profits from an old house I'm selling, so it's not even a factor in our financial situation.

That's fine, but you're arguing very individualized circumstances about a general topic. No matter how you expect to pay for it, you shouldn't buy a new 22 Maverick if you're "struggling to survive." However, the discussion is whether to pay an up front lump sum of cash vs. 0% financing.
There are very few circumstance where paying a lump sum up front is a better financial decision than paying that same amount over time. That's just basic time-value of money.

 

[keebs159]

FYI a little background on Flex Pay, neither for or against but to explain it and maybe assuage some fears of "its a scam" or "seems too good to be true" or whatever.

Basically, it's a 3-year lease in all but name. Treat it like a lease in your financial decision making. Ford invented Flex Pay when they announced their first EVs because leases don't generally qualify their buyers for the federal EV tax credit (it goes to the lease company and most keep it), so Flex Pay was Ford's clever workaround to get buyers basically the same terms as a 3-year lease while also getting them the tax credit. The higher rate after 3 years is similar to what you'd pay if you bought out your lease instead of turning it in.

Of course you don't have a mileage limit, so that's nice. But then you also have to pay full sales tax upfront where applicable. So some small differences.

 

[WesM]

The funny part is they thought they were bragging but actually they're just showing how they're not that intelligent with money lmao. Anyone who would turn down 36mo at 0% to finance a car outright doesn't know how to make their money work for them or is wayyyy too afraid of debt.

Bet that worked out great for folks who did that in 2008 and it took 5-6 years to even get back what they put into the market.

Nothing wrong with being cautious if you can afford to be. Nothing wrong with taking on risk either, just what the individual is comfortable with.

 

[Darnon]

Basically, it's a 3-year lease in all but name. Treat it like a lease in your financial decision making. Ford invented Flex Pay when they announced their first EVs because leases don't generally qualify their buyers for the federal EV tax credit (it goes to the lease company and most keep it), so Flex Pay was Ford's clever workaround to get buyers basically the same terms as a 3-year lease while also getting them the tax credit. The higher rate after 3 years is similar to what you'd pay if you bought out your lease instead of turning it in.

It's still kind of a crappy deal for an EV buyer since you still need to have the tax burden to be able to maximize the credit. And plenty of other manufacturer's in-house banks will pass on the tax credit as a cap cost reduction, but Ford doesn't to my knowledge. They have a new version of the same idea for Mach-E buyers with their 'Options' plan.

I'm mainly considering Flex Buy if the speculation on a 0.9% incentive on the 66mo for the Maverick comes through. Otherwise probably DCU's 1.24%.

 

[Old Ranchero]

That's fine, but you're arguing very individualized circumstances about a general topic. No matter how you expect to pay for it, you shouldn't buy a new 22 Maverick if you're "struggling to survive." However, the discussion is whether to pay an up front lump sum of cash vs. 0% financing.
There are very few circumstance where paying a lump sum up front is a better financial decision than paying that same amount over time. That's just basic time-value of money.

well, my late father had a couple sayings about finances; 1- "I like paying bills- because I can" and 2- "I like owing people money, because if I die I don't have to pay them back". I related more to the first 1. Agree with you it's generally a bad idea to buy things you know you can't afford.

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