Build and Price Help for those with questions

NayNay

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I have been getting many questions about payments, terms, how much should I spend, how does this work, credit scores, money down, added extras, invoice etc. I decided I will hang out and help on and off from now until about 1am eastern. I will answer any and all questions I can regardless of what dealership you are buying from. Ford will be sending everyone an email letting them know the build and price will be live at midnight est. Many already have it. I will not be here to argue, or bash other dealers. I am here as a finance director and fellow Bronco buyer. Thanks in advance!! @Granger Ford @StephensAutoCenter @rcbickle @EvlNvrDys just in case any of you want to chime in or direct anyone this way.


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FishKzor

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Thank you for offering your services and time, you are brave with this crowd.
I have a question because it's something I need to decide on:

What are the Pros/Cons of trading in a car versus selling private party and using towards a bigger down payment? (Car is a 2009 Mustang 4.0)
 
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NayNay

NayNay

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Thank you for offering your services and time, you are brave with this crowd.
I have a question because it's something I need to decide on:

What are the Pros/Cons of trading in a car versus selling private party and using towards a bigger down payment? (Car is a 2009 Mustang 4.0)
Depends on a couple things. Sell your vehicle on your own tends to bring in more money. Trading it in depending on your state can give you a tax credit and IF Ford offers any rebates (I doubt they will) you could get extra money for it. Being that it's a 2009 a dealership probably won't give you much at all as it's of no benefit to them. A vehicle generally has to be under 10 years old for a consumer to get a bank loan. That would probably be a wholesale piece for them. I can't really say pro's and con's as I am not in your situation. If it was me and I had the time I'd sell it on my own.
 

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BecauseMotor

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Pretty sure with all these last minute changes/edits/delays with certain features, I'm thinking strongly about leasing instead of buying outright. So once all the models are out and the options/accessories are plentiful, then I'll trade in for a newer model, ultimately buying that one to own forever ever. Any pros/cons to this?
 

Andy6GRealG

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I have pretty good credit, almost 800, but am trying to decide to do a flex buy or standard purchase with financing. How long do flex purchases last and what do the payments typically look like for the first 36 Months as opposed to the last 24?
 
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NayNay

NayNay

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Pretty sure with all these last minute changes/edits/delays with certain features, I'm thinking strongly about leasing instead of buying outright. So once all the models are out and the options/accessories are plentiful, then I'll trade in for a newer model, ultimately buying that one to own forever ever. Any pros/cons to this?
Make sure the dealership gives you quotes on the payments for both. Personally I'm not a fan of leasing unless there's a special going that will save you money. You maybe looking at a very steep lease payment. On the flip side you could tell your dealership to delay pushing your order thru a few months. Some other benefits to not trying to be 1st is you'll see if there are issues on the Bronco before taking delivery of yours and then you can decide if you want to get one, wait, or lease.
 

BecauseMotor

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Make sure the dealership gives you quotes on the payments for both. Personally I'm not a fan of leasing unless there's a special going that will save you money. You maybe looking at a very steep lease payment. On the flip side you could tell your dealership to delay pushing your order thru a few months. Some other benefits to not trying to be 1st is you'll see if there are issues on the Bronco before taking delivery of yours and then you can decide if you want to get one, wait, or lease.
WHAAAT? Take later delivery of my bronco like all those day 2 peasants..? Unspeakable lol. I hear ya on rates. Wife and I both have over 820 credit scores so hoping we'll have great/low rates either from ford or privately if we do decide to purchase.
 

Bronco4lyfe85

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This is fantastic of you!! I may have questions later!
 

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ThatOne911Dude

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Thanks for this!

If I am with a dealer that is still promising 0.4% under invoice plus $275, I assume they’ll want to recoup some of that discount elsewhere. Where should I be watching for “extra” fees in the finance office?
I’ll be more than likely financing through my CU, and more than likely purchasing an extended warranty through another less expensive Ford dealer unless they’ll match it.
 
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NayNay

NayNay

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I have pretty good credit, almost 800, but am trying to decide to do a flex buy or standard purchase with financing. How long do flex purchases last and what do the payments typically look like for the first 36 Months as opposed to the last 24?
I can't give you an idea on payments as i don't know the amount you're spending. Flex buys are great if you want a lower payment the 1st few years and are ok with the payment going up the last few years. It's beneficial if you plan on keeping the vehicle long term and have a definite plan to make sure you don't get yourself into trouble. The flex buy option is pretty clear. You'll know what you will pay the 1st half and 2nd have, it doesn't fluctuate or balloon. The payment jump can really range so it's so hard to give any type of idea. I did do one where the payment was mid 300s and then jumped to mid 500s. It was a longer term tho. This is a horrible idea if you plan to try and trade out the 1st few years as you'll be terribly upside down with negative equity.
 
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NayNay

NayNay

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WHAAAT? Take later delivery of my bronco like all those day 2 peasants..? Unspeakable lol. I hear ya on rates. Wife and I both have over 820 credit scores so hoping we'll have great/low rates either from ford or privately if we do decide to purchase.
I've a feeling Ford's rates will not be an option lol.
 

Andy6GRealG

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I can't give you an idea on payments as i don't know the amount you're spending. Flex buys are great if you want a lower payment the 1st few years and are ok with the payment going up the last few years. It's beneficial if you plan on keeping the vehicle long term and have a definite plan to make sure you don't get yourself into trouble. The flex buy option is pretty clear. You'll know what you will pay the 1st half and 2nd have, it doesn't fluctuate or balloon. The payment jump can really range so it's so hard to give any type of idea. I did do one where the payment was mid 300s and then jumped to mid 500s. It was a longer term tho. This is a horrible idea if you plan to try and trade out the 1st few years as you'll be terribly upside down with negative equity.
I am one of those people that keep a car until the wheels fall off especially a good vehicle so I plan on having this til the day I die, at least as a toy. It’s gonna be my DD most of the time, as I have a beater Jeep Liberty I drive to work anyway. Thank you for your help.
 

AwfulAddie

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Hi- I have never bought a new car, and I will be buying this one out of state, for my last car loan I got preapproved from a local credit union and it went very well, should I expect any hiccups with this process using an out of state dealer? Is there any reason I would want to choose the inhouse/Ford financing instead?
Thanks for your time.
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