Ford Flex Buy Financing

[Techqua]

This Ford Flex Buy financing option intrigues me. Has anyone used that previously? Is it an option for all new Ford purchases? It sounds like a nice option, especially to make the transition to a more expensive payment less painful.

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[Mhans31b]

did some googling it does seem interesting.

 

[Smrideatiger76]

Sounds very interesting! I'm going to have to contact my dealer and see if they offer it.

 

[SHLYGRR]

Finally found the proper search results. Ford should probably rename it to something other than Flex so I don’t have to painfully sift through Ford Flex car offers and completely curse my google search history with that eye sore of a vehicle

 

[Lifeliberty]

https://www.ford.com/finance/finance-options#flexbuy

 

[Edelfin]

It’s fine if you know what you’re getting into. It’s not a ballooning interest loan (a la housing crisis) but it’s structured to keep costs low in the first three years. I can see someone who is expecting a raise or keeping the car forever taking advantage of it. But if you like to trade your car in before paying it off, your vehicle value will more likely be lower than what you owe with this plan. You will be underwater on your loan for awhile but that’s not a big deal if you’re finishing the term.

Biggest thing is to just never talk monthly payments ever when you’re with finance director. They can “pack payments” take less on the actual car and add whatever they want to meet your monthly goal. It’s like saying this is my allowance add whatever you want at whatever interest to meet it.

 

[jonwithanelcamino]

Interesting, I wonder how rates differ from a standard loan.

TL DR: back-load loan payments to be smaller initially and larger on the back end

 

[Squatch]

Gives me flashbacks of those 3yrs fixed housing loans and GM(?)s balloon payment fiasco.

When I'm making a poor financial investment, I like to lose the money once and forget about it, i.e. pay in cash or prepaid lease. It takes time and work to get to this point, but it's so much easier on my mind.

 

[Smrideatiger76]

Finally found the proper search results. Ford should probably should rename it to something other than Flex so I don’t have to painfully sift through Ford Flex car offers and completely curse my google search history with that eye sore of a vehicle

That hurts man..........I love my Flex!
Gonna miss her when I trade her in..................until I get my bronco out the car lot, lol.

 

[FortyFiveNorthwoods]

I used this when I bought my first car, a Focus back in 2003. Usually, the payment period is stretched 6 months from a normal term, but the interest rates were at the same as the standard terms.

 

[SHLYGRR]

That hurts man..........I love my Flex!
Gonna miss her when I trade her in..................until I get my bronco out the car lot, lol.

Honestly I’ve heard nothing but great things about those cars from their owners. People who buy them seem to absolutely love them! Just not my style haha.

 

[Tdifonzo]

I will definitely be using it if they can match or beat my credit union’s rate. I don’t keep cars very long so I will probably end up selling it before the payment increases.

 

[Bronc-O]

This Ford Flex Buy financing option intrigues me. Has anyone used that previously? Is it an option for all new Ford purchases? It sounds like a nice option, especially to make the transition to a more expensive payment less painful.

I used it once when I bought an 07 MKX. The first 36 payments are lower and the final 30 are quite a bit higher. I traded just before the 36 months was up.

 

[ndegnan1992]

I used it once when I bought an 07 MKX. The first 36 payments are lower and the final 30 are quite a bit higher. I traded just before the 36 months was up.

How was your equity in the car at that point?

 

[AZHUND]

That sounds brutal - by making the earlier payments lower they are just letting that sweet sweet interest to keep accruing on a higher balance. I would avoid along with those 72 month terms they are pushing these days.

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