Postponement Penalty?

[Mav4mepossibly]

I recently ordered a 2025 XLT AWD Hybrid with 4k Tow. Scheduled to build 11/11/24 has been assigned a VIN. VERY EXCITING!! But, I've been searching for land to build our new home on and just found the perfect lot. The rates for land (7-8%) are much higher than vehicle interest rates. I'm leaning towards postponing my Maverick dreams a year to pay down the land loan.

If I cancel an order or don't accept it at delivery, will I somehow be "punished" or unable to order future Mavericks? Also, what is the average rate of price increase between model years? I'm doing lots of math to figure my best option here and any insight is appreciated. Thank you.

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[Revenge488]

You will not be punished. Orders cannot be "Cancelled" once they are scheduled to build at the factory. Good news here is a year from now when you decide you're ready to buy a maverick you can probably find one on a lot already. Demand seems to be way down now. My local Ford dealer has 7 new ones up for grabs.

 

[Mav4mepossibly]

You will not be punished. Orders cannot be "Cancelled" once they are scheduled to build at the factory. Good news here is a year from now when you decide you're ready to buy a maverick you can probably find one on a lot already. Demand seems to be way down now. My local Ford dealer has 7 new ones up for grabs.

If it is MSRP and checks all my boxes, that would be ideal!

 

[Revenge488]

If it is MSRP and checks all my boxes, that would be ideal!

Age of the markup is over for Ford lots unless you're a Raptor fan boy with deep pockets.
I am hoping that December is the first month the Mavericks actually get some kind of incentive.

 

[MakinDoForNow]

I recently ordered a 2025 XLT AWD Hybrid with 4k Tow. Scheduled to build 11/11/24 has been assigned a VIN. VERY EXCITING!! But, I've been searching for land to build our new home on and just found the perfect lot. The rates for land (7-8%) are much higher than vehicle interest rates. I'm leaning towards postponing my Maverick dreams a year to pay down the land loan.

If I cancel an order or don't accept it at delivery, will I somehow be "punished" or unable to order future Mavericks? Also, what is the average rate of price increase between model years? I'm doing lots of math to figure my best option here and any insight is appreciated. Thank you.

Depends on your credit, cash on hand, income. If anything's close when you go to build house and qualify for it's loan the payments owed on your truck may reduce the amount you can borrow on home. It could work out best over all that you pay off truck first then have enough equity in lot plus cash on hand to put down on house and land together Loan. Roll the lot loan balance due into the combined loan. That way the home loan rate could be at a cheaper rate since it would be a first lien. Also best if you can show a 20% down which can be helped by inflation helping value on lot. It's also possible that it would be best to postpone the maverick purchase until you have closed the loan on your completed house which could take at least two years possibly longer.

 

[commadorebob]

No. You are under no obligation to take the truck when it arrives. Different dealerships might have different policies on if they would let you place another order if you walked away, as to keep from people abusing it and sticking the dealership with the inventory. But given how the allocation system works, most dealerships would want the truck to sell either way. Regardless of whether your name is on it already or not.

Short version: go buy your land. Maverick will be here next year.

 

[ShadowChas]

Nobody really knows how much the prices will change but they can’t continue going up as quickly since 22’s started under $20k with standard hybrid and the 25’s starting $27k+. If you put a deposit down sometimes the dealer will keep it, but usually no problem not taking your orders as things happen all the time. Good luck on your land and/or maverick purchase choices.

 

[Lugnut]

You may lose your down payment. If paid one.

 

[Toddman45]

Age of the markup is over for Ford lots unless you're a Raptor fan boy with deep pockets.
I am hoping that December is the first month the Mavericks actually get some kind of incentive.

Dealer I bought my Maverick from in June had a 24' black loaded raptor r marked down 15,000 off MSRP.

 

[Mav4mepossibly]

Age of the markup is over for Ford lots unless you're a Raptor fan boy with deep pockets.
I am hoping that December is the first month the Mavericks actually get some kind of incentive.

A low interest incentive would certainly help! Fingers crossed, that would make the decision much easier.

 

[Mav4mepossibly]

Depends on your credit, cash on hand, income. If anything's close when you go to build house and qualify for it's loan the payments owed on your truck may reduce the amount you can borrow on home. It could work out best over all that you pay off truck first then have enough equity in lot plus cash on hand to put down on house and land together Loan. Roll the lot loan balance due into the combined loan. That way the home loan rate could be at a cheaper rate since it would be a first lien. Also best if you can show a 20% down which can be helped by inflation helping value on lot. It's also possible that it would be best to postpone the maverick purchase until you have closed the loan on your completed house which could take at least two years possibly longer.

Lots to think about here. The plan is to pay the lot off entirely before building, which may take 2-3 years, and then use the lot as collateral for the new construction. Our current starter house is at 2% interest so we aren't in a huge rush to move. I'd love to beat the principal down of the 7.5% interest land loan for a year before buying the Maverick.

I've been searching for the perfect lot for a few years now, and had just given up hope so I placed my Maverick order. A week later my dream lot becomes available and now I'm under contract! Crazy timing.

I'm leaning towards postponing my Maverick but all depends on the particulars when it arrives. Thanks everyone for chiming in. It helps to know that I can just reorder again next cycle.

 

[MakinDoForNow]

Lots to think about here. The plan is to pay the lot off entirely before building, which may take 2-3 years, and then use the lot as collateral for the new construction. Our current starter house is at 2% interest so we aren't in a huge rush to move. I'd love to beat the principal down of the 7.5% interest land loan for a year before buying the Maverick.

I've been searching for the perfect lot for a few years now, and had just given up hope so I placed my Maverick order. A week later my dream lot becomes available and now I'm under contract! Crazy timing.

I'm leaning towards postponing my Maverick but all depends on the particulars when it arrives. Thanks everyone for chiming in. It helps to know that I can just reorder again next cycle.

Sounds good. Just keep in mind that mortgage loan qualification amount for new house can be limited by all monthly payments including vehicles and credit cards, etc. being less than a certain percentage of income.

 

[MakinDoForNow]

Lots to think about here. The plan is to pay the lot off entirely before building, which may take 2-3 years, and then use the lot as collateral for the new construction. Our current starter house is at 2% interest so we aren't in a huge rush to move. I'd love to beat the principal down of the 7.5% interest land loan for a year before buying the Maverick.

I've been searching for the perfect lot for a few years now, and had just given up hope so I placed my Maverick order. A week later my dream lot becomes available and now I'm under contract! Crazy timing.

I'm leaning towards postponing my Maverick but all depends on the particulars when it arrives. Thanks everyone for chiming in. It helps to know that I can just reorder again next cycle.

Since you are thinking..... 7.5% on land is not all that bad. With the economy and expected inflation plus the storm damage soon adding to existing construction problems. If any way possible consider starting construction of new house ASAP before new prices. The 2% property due to supply and demand should increase in value significantly before you can finish construction and move. Do you have enough equity in it to qualify for construction loan? Definitely not an easy totally risk free life we face these days and even doing nothing is safe. My son moved to Charlotte couple years ago and got into a nice house only $80k over his budget with one of last 4.75% loan. I gifted him $20k to cover "over asking price bid". (Corporate offer was higher than his was but seller took his because liked how happy his kids were when they picked who got which rooms, etc). He tells me that rent for comp houses to his are about $600 more per month now. Do not cancel 2025 just check CarMax and carvana on way to pick it up. There were thousands of vehicles totaled in Hurricane. Who knows.

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