Cash / Lease / Finance your Maverick?

[MaverickAngler]

My credit is taking FOREVER to rebuild after my divorce. I’m probably going to do a one pay lease to ensure top tier rates. Then either buy it or Figure something else out after the lease is up.
unless someone has a better idea for someone with some credit issues

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[stoptothink]

Always prepared to cut a check, but I'm guessing Ford financing will make it a lot more enticing to finance.

 

[Rkbrumbelow]

My credit is taking FOREVER to rebuild after my divorce. I’m probably going to do a one pay lease to ensure top tier rates. Then either buy it or Figure something else out after the lease is up.
unless someone has a better idea for someone with some credit issues

Medical bills are causing me to file chapter 7 so my credit is persona non grata atm. Fortunately, I am not the one buying the Maverick.

As for your credit, are you a member of a credit union or non-other-than-honorably discharged Vet? USAA and Navy Federal can likely help sooner than BigBank or hit a credit union.

 

[Old Ranchero]

Currently prepping our old starter home (used to relocate for retirement) for sale. Once that is sold I go visit my friendly local dealer rep and order my Maverick. Have no timing issues with purchase and will just try for best Ca$h price OTD and sign paperwork. I had $30k budgeted from home sale proceeds and my build comes in under $27k before tax & license so I'm good I think. Expect to have it 1st quarter 2022 and hopefully get a test drive in a live vehicle before then to have some idea what mine will be like.

 

[M.A.C.]

gonna buy because Ford won't let you sell leases to anyone else

In the off chance I don't like the Maverick or weird first year issues pop up, I'll happily sell it to Carvana or Vroom instead of sticking with it 3 years or being limited to trading it in on another Ford.

You are 100% on track, I have a GMC Sierra gas hog and tried selling the lease to Carmax, had a great offer in hand and GM financial said NO. They had just changed their lease third party sales program and I could only sell the lease to a GM dealer, buy out the truck outright or have someone take over the lease. Those lease selling options are disappearing and I don’t plan to get caught in them again. I know that the lease rates are very attractive but I would rather not be handcuffed.

 

[oljackfrost]

Put it on Fidelity cash back card, pay it off during grace periods. 2% of purchase will go into retirement accounts.

Most dealers will only let you put a small portion on your card... after that if you want the balance on the card you get charged interest, because they have to pay to accept the card.

 

[STARCOMMTREY1]

Put it on Fidelity cash back card, pay it off during grace periods. 2% of purchase will go into retirement accounts.

Be careful. Alot of dealers charge 3% to put on card

 

[Gmood1]

My credit is taking FOREVER to rebuild after my divorce. I’m probably going to do a one pay lease to ensure top tier rates. Then either buy it or Figure something else out after the lease is up.
unless someone has a better idea for someone with some credit issues

There are several ways to get an artificial boost while rebuilding your credit.
One is to have a family member or close friend add you as an authorized user to a CC in good standing with a long history( You don't need the physical cards). Not an Amex as they start from the day you're added. And not from the day the CC was opened. Chase, Capital One, Bank of America, Citi Bank, Synchrony Bank all back date. This means if a parent added you to their Capital One as an AU. And that card has been opened for 20 years. The credit bureaus computers would see you with 20 years of credit history. Which would give a huge boost in scores.

If no installment loan active on your credit report.
Open a secured shared loan through a credit union. Between that and being added to at least 2 active revolving credit lines should give you a 30 to 60 point score boost. Normally 1 active installment loan and 3 revolving credit accounts will yield the highest scores.

Make sure your utilization is below 9% on those revolving lines. Worst case, keep them below 30%.

I don't know the depth of your credit history or the baddies on it. So these are my best guesses.

 

[medgar]

Be careful. Alot of dealers charge 3% to put on card

Thanks. After agreeing on price, Im very transparent with them and let them know they will lose a multi thousand dollar sell so keep the dealership bs in their pocket. Why lose thousands of dollars haggling over quarters. Plus I would hate for them to lose their Ford monthly kickback or mulitplier incentive for being short 1 car over just a couple of dollars. If they are an a$$ about it VISA always likes to know why they lost a large charge

So far out of last 5 cars a logical business person/ company has understood. Im hoping Ford sees it the way Honda and Toyota dealers have on my last cars.

 

[Darnon]

Thanks. After agreeing on price, Im very transparent with them and let them know they will lose a multi thousand dollar sell so keep the dealership bs in their pocket. Why lose thousands of dollars haggling over quarters. Plus I would hate for them to lose their Ford monthly kickback or mulitplier incentive for being short 1 car over just a couple of dollars. If they are an a$$ about it VISA always likes to know why they lost a large charge

There isn't exactly multiple thousands of dollars in profit in the Maverick. They aren't casually going to eat $750 in card processing fees if you didn't negotiate that sort of thing up front.

 

[Eagle11]

Originally I was going to just write a check, but I'm leaning more & more towards leasing, for a few reasons:

1. Mid cycle refresh will probably have a proper screen instead of a little one with a hole near it,

2. New model kinks to work out,

3. GM might make a better truck if they do get into this space and I can buy that,

4. Can always buy the car when lease ends.

So for all the reasons above, a 1-payment lease sounds more & more appealing. Sell my Buick to carvana, give the dealer a check for $13k or whatever, decide what to do in 2 years.

I'm leasing, as I'm betting that after 3 years the Mid-Cycle refresh will happen and the PHEV will be available.

 

[mrchips0401]

Originally, I was going to pay cash. Since my order, I have been informed I can get 3 years 0% (no brainer). And Now, Ford is offering leasing in my area (originally not available on my build work up).
Since there is a hiccup in the roll out process for the Maverick, I am leaning towards 2 year lease.
My thought process:
My Maverick will be under warranty the entire length of the lease, hedging my bet. It gives me the leverage to buy it at lease end or order a new one that may have additional equipment (I would jump on ventilated seats).
I would appreciate feedback… Thanks

Area 51 XLT Lux Hybrid Moonroof

Dbarr….I’m thinking seriously lease as well when I saw the XLT trim on the hybrid model had shown the highest residual value % of 63% + 3% for low miles. Have to wait if anything changes especially what any dealer uses as their lease rate. haven't leased before but the idea of a new car every 2 or 3 years without the trade in value hassle seems inviting.

 

[IndianaWildcat]

I'm leasing.

Hoping that they'll put out a Hybrid AWD in a couple of years.

 

[asel3121]

Financing Lariat hybrid with a substantial down payment and trade-in. I'm not worried about delays or slow production because this just gives me more time to add on to what I planned to put down. My main concern is just getting the monthly payment low enough and my current credit score won't do me any favors unless the money down is substantial. The $500 child tax credit I got yesterday certainly helps!

 

[medgar]

There isn't exactly multiple thousands of dollars in profit in the Maverick. They aren't casually going to eat $750 in card processing fees if you didn't negotiate that sort of thing up front.

There are large profits in the dealership when it comes to selling cars. Yes the Maverick has a low profit margin when it comes to $ amount but selling a lot of Maverick units helps a dealership make larger profits from incentives of x total units sold per month gives them extra coop advertising money etc

I am in total agreement with you that is why I am up front on payment when I get to the finance manager. There are two negotiations in buying cars in my experience. The dollar figure amount with sales rep and manager. Then how will you pay for it and what interest rate can I sell you with finance manager. Part 1 doesnt need to know how I will pay for it or trade a car in etc. Lets agree on a price

Taking a credit card is a cost of doing business. As a customer I am not going to be penalized for using a credit card In my business I take credit cards as a way of doing business. I dont charge my customer a penalty for using a reward credit card. My average sales per unit is $11,000

Also my process fee for a reward credit card isnt near 3% and I dont come close to the volume of a car dealership. If they charge you. 3% fee they are profiting off of you. If the Ford dealership doesnt take the payment that is a short sighted decision ESpecially when there are 21 Ford dealerships in a 20 mile radius of me

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