Rebates etc. Just ordered my 2018 FIST

[JimRN]

Well I just got a call from the dealer today. The car will be built this week and will make it up here in Massachusetts the first week of July

 

[Dpro]

Well I just got a call from the dealer today. The car will be built this week and will make it up here in Massachusetts the first week of July

Interesting my build date was last week and Its supposed to arrive 2nd or third week of June. Got it down to $19’600 now with the Recaros and ebony wheels.

 

[JimRN]

did you get your car yet? I am still waiting and suspect next week. I just emailed the dealer to see if they had a VIN number. The current incentives will be gone by the end of today and I don't know what July will bring.

 

[JimRN]

The car is built and in transit. It should be on Cape Cod between July 9th and 15th. Finally! Hope everything is intact

 

[Dpro]

The car is built and in transit. It should be on Cape Cod between July 9th and 15th. Finally! Hope everything is intact

Ya I talked to my dealer last week and it was at the border. We are following the train as there is a GPS locator on all the rail cars. My car is now expected to arrive the week of July 9th.

Oh and the current incentives were extended to July 9th. I checked last week its on Ford.com

I think that was because July 4th is midweek and official July 4th sales stuff started on this weekend.

 

[JimRN]

So what are the incentives dujour after June 30th? Looks like $2750.00 cash back or 0% interest for 60 months. BTW, the 0% interest is just a tact to get people into the dealership. If you have good credit, you can get a better loan with lower rates vs the one Ford offers at "0%".

 

[DEss]

So what are the incentives dujour after June 30th? Looks like $2750.00 cash back or 0% interest for 60 months. BTW, the 0% interest is just a tact to get people into the dealership. If you have good credit, you can get a better loan with lower rates vs the one Ford offers at "0%".

Only way a rate can be better than zero is if they pay you to borrow their money.

DEss

 

[Dpro]

So what are the incentives dujour after June 30th? Looks like $2750.00 cash back or 0% interest for 60 months. BTW, the 0% interest is just a tact to get people into the dealership. If you have good credit, you can get a better loan with lower rates vs the one Ford offers at "0%".

What I see is 3k rebate or 0% for 60 months plus $750 worth of stackable incentives if you qualify. I also have a 2k private cash offer that was offered for a couple of weeks to cetain parties a couple of months ( a member posted it here) back thats valid to July 9th. After July 9th New Rebates roll out. Its possible they could go up its possible that they could allow stacking the 0% with a rebate. Its a dice roll.

I am cuttently sitting with 5k in cash back deals before the dealer discount which was first proposed at $439.
That’s $19600 before tax and license. I am most likely going to have to close paperwork by the 9th because of this. As factory rebates can be rolled over but stuff like private cash offers cannot as far as I know.

I could care less about 0% because I am making a significant down payment. I also have a 2012 very clean Focus with 65k I could trade in if they offer me enough. Plus I own a collectable BMW M3 thats going up for sale shortly after paint. So I pretty much will slam any loan within the year if not buy outright.

Only way a rate can be better than zero is if they pay you to borrow their money.

DEss

What he means is the 0% is a 60 month loan. You can get a 1.9 for anywhere 36-72 the thing is while people focus on payments its really term length that matters.

Reason being even though shorter terms mean higher payments the overall payout in interest usually is less than the 3k rebate.

Personally I would rather pay 3k less for a car than be paying for 60 months and 3k more.

Even if you add 1k interest to the higher interest loan you still get an extra 2k off the price of the car.

This is how people get lured into 0 interest rate or low interest loans. They don’t consider the price offset they only look at monthly payments.

If one slams the 1.9 interest loan they will most likely only toss out less than 1k interest possibly as litle as $300-500. If you do it in less than a year you are only going to pay around $200 in interest.

Its also why the dealer offers an either or. They either make some money off charging you interest on the loan or they make money off keeping you from collecting the rebate by having you take 0 %
Remember though only best credit usually qualifes for 0% anyways.

You really need to calculate the offsets before stepping to the plate. Quite often factory r bates are much more favorable than low or 0% financing when it comes down to total purchse cost.

 

[jmrtsus]

So what are the incentives dujour after June 30th? Looks like $2750.00 cash back or 0% interest for 60 months. BTW, the 0% interest is just a tact to get people into the dealership. If you have good credit, you can get a better loan with lower rates vs the one Ford offers at "0%".

How does it get better than 0%?

 

[DEss]

Personally I would rather pay 3k less for a car than be paying for 60 months and 3k more.

Even if you add 1k interest to the higher interest loan you still get an extra 2k off the price of the car.

This is how people get lured into 0 interest rate or low interest loans. They don’t consider the price offset they only look at monthly payments.

If one slams the 1.9 interest loan they will most likely only toss out less than 1k interest possibly as litle as $300-500. If you do it in less than a year you are only going to pay around $200 in interest.

Its also why the dealer offers an either or. They either make some money off charging you interest on the loan or they make money off keeping you from collecting the rebate by having you take 0 %
Remember though only best credit usually qualifes for 0% anyways.

You really need to calculate the offsets before stepping to the plate. Quite often factory r bates are much more favorable than low or 0% financing when it comes down to total purchse cost.

Some of your assumptions may be inaccurate.

1. It's not $3k or 0%, it's $1k or 0%.
2. People don't get 'lured' into 0%. As you stated yourself, only persons with the best credit qualifies. Meaning, usually only financially responsible/savvy people qualify, and they know what they're doing, and are not getting 'lured' into anything that they believe is unfavorable to them.
3. This is an economy car that is way below the price of an average new car; however, it's still a significant outlay. Not everyone can afford higher monthly payments, much less paying off $20k in a year.
4. New car loan rates are probably closer to 3.9 than 1.9%. So someone taking 0% at $20k is saving about $1.3k over someone who pays $19k at 3.9%. BUT, even at your 1.9% rate, the one paying $20k at 0% is still slightly ahead.

Personally, I'd rather pay $1k more but carry a 0% interest loan for as long as they let me. Unfortunately for me, that only meant 72 months. But, in doing so I'm able to invest the money I don't have to lay out and earn interest on it. That also means I can earn interest on it for longer, because my payments are for 72 months rather than your 36-48.


DEss

 

[Dpro]

Some of your assumptions may be inaccurate.

1. It's not $3k or 0%, it's $1k or 0%.
2. People don't get 'lured' into 0%. As you stated yourself, only persons with the best credit qualifies. Meaning, usually only financially responsible/savvy people qualify, and they know what they're doing, and are not getting 'lured' into anything that they believe is unfavorable to them.
3. This is an economy car that is way below the price of an average new car; however, it's still a significant outlay. Not everyone can afford higher monthly payments, much less paying off $20k in a year.
4. New car loan rates are probably closer to 3.9 than 1.9%. So someone taking 0% at $20k is saving about $1.3k over someone who pays $19k at 3.9%. BUT, even at your 1.9% rate, the one paying $20k at 0% is still slightly ahead.

Personally, I'd rather pay $1k more but carry a 0% interest loan for as long as they let me. Unfortunately for me, that only meant 72 months. But, in doing so I'm able to invest the money I don't have to lay out and earn interest on it. That also means I can earn interest on it for longer, because my payments are for 72 months rather than your 36-48.


DEss

Ah excuse me none of this assumption.

1. Current Rebate on Ford.com and at my dealer is 3k! That is a fact and I know it because I am currently buying a new FiST!

2. You give people to much credit. People do indeed get lured into dealerships on the promise of 0% financing because not many read the fine print before getting gung ho. Only finding out they don’t qualify after the fact.

3. Sound financial advice is sound financial advice and if you read up online most financial advisers will tell you its crazy to take a 60 month loan or even longer 72 and 80.
As you financially can wind up upside down value wise and still paying for something that is essentially worth less than what you owe.

4. Like I said earlier the curent rebate is 3k and getting 1.9 financing on a new car is not hard. people with credit scores of 670 have done it 3.9 is ok but not great and people with scores around 660 or below usually wind up with loans in that range. Credit scores go along way towards low finance rates.

As far as Rebates vs loan rates indeed in your shoes you are coming out slightly ahead. Though I am not sure when you bought your car as the Rebates for ST’s has been hovering at 3k for the last two years all over the Westen U.S. amd if you go to Ford.com its even listed in their incentives.

Given that the advantage goes to takingas your savng 3k that would otherwise get spent and eaten up in depreciation.

As far as money earning interest in the bank goes thats a joke and I am surprised you even tried to use at an example. The Savngs return rate on an account that has 10k in it is 1.5%

If I have 10k just sitting there that i can pay off my loan with and own my car outright without the long term debt I am in a much stronger financial position.


Oh and I really hope you do slam that 72 month loan as long term debt is a a real pain . You may think 6 years is not a long time... but its a long time for a car that is depreciating faster than you pay the loan off.
Which these cars do fall into the category of.

Again not making any of this up or assuming this is just financial awareness of how this all works from epxerience and study.

I am only posting this stuff so people will know and understand the ins and outs of these things.

There are lots financial sites that post this, you shoudl always look at both sides of the coin when buying a car.

Good luck with our financial endevors.

 

[JimRN]

A few years back I bought a Taurus brand new and their incentive was "0%". I have been using this dealership for years and their service is excellent. The salesman whom I have used for years said that their "0%" was just an incentive to get people in the door. He said that my credit was excellent ( I've paid off cars, houses and school loans) and I could qualify for a better loan. So... to answer your question, their "0%" loan costs more up front. I went with a credit union and got a low rate of interest on a less expensive loan for the same time period. I usually slam my payments and pay it off in less than half the time as well which offsets interest.

 

[shru63]

my credit rating is over 780 and i been shopping for a 18 model.
but seems like best interest rate right now is around 3.64 that i have seen for 72 months, and around 3.29 for 60 months, i havent found the one i want yet but these are quotes from local credit unions.

 

[jmrtsus]

my credit rating is over 780 and i been shopping for a 18 model.
but seems like best interest rate right now is around 3.64 that i have seen for 72 months, and around 3.29 for 60 months, i havent found the one i want yet but these are quotes from local credit unions.

With a 780 why would you not use the 0%?

 

[shru63]

can you use that combined with 3k rebate?
i plan on paying off in 3 yrs max, so the 3k rebate is the way to go for me unless you can combine

 

[jmrtsus]

can you use that combined with 3k rebate?
i plan on paying off in 3 yrs max, so the 3k rebate is the way to go for me unless you can combine

Go to Ford.com and check rebates in you area. In my area it is 0% plus $2k cash and $1k for military and first responder.

 

[DEss]

Ah excuse me none of this assumption.

1. Current Rebate on Ford.com and at my dealer is 3k! That is a fact and I know it because I am currently buying a new FiST!

2. You give people to much credit. People do indeed get lured into dealerships on the promise of 0% financing because not many read the fine print before getting gung ho. Only finding out they don’t qualify after the fact.

3. Sound financial advice is sound financial advice and if you read up online most financial advisers will tell you its crazy to take a 60 month loan or even longer 72 and 80.
As you financially can wind up upside down value wise and still paying for something that is essentially worth less than what you owe.

4. Like I said earlier the curent rebate is 3k and getting 1.9 financing on a new car is not hard. people with credit scores of 670 have done it 3.9 is ok but not great and people with scores around 660 or below usually wind up with loans in that range. Credit scores go along way towards low finance rates.

As far as Rebates vs loan rates indeed in your shoes you are coming out slightly ahead. Though I am not sure when you bought your car as the Rebates for ST’s has been hovering at 3k for the last two years all over the Westen U.S. amd if you go to Ford.com its even listed in their incentives.

Given that the advantage goes to takingas your savng 3k that would otherwise get spent and eaten up in depreciation.

As far as money earning interest in the bank goes thats a joke and I am surprised you even tried to use at an example. The Savngs return rate on an account that has 10k in it is 1.5%

If I have 10k just sitting there that i can pay off my loan with and own my car outright without the long term debt I am in a much stronger financial position.


Oh and I really hope you do slam that 72 month loan as long term debt is a a real pain . You may think 6 years is not a long time... but its a long time for a car that is depreciating faster than you pay the loan off.
Which these cars do fall into the category of.

Again not making any of this up or assuming this is just financial awareness of how this all works from epxerience and study.

I am only posting this stuff so people will know and understand the ins and outs of these things.

There are lots financial sites that post this, you shoudl always look at both sides of the coin when buying a car.

Good luck with our financial endevors.

None of this assumption?
1. Perhaps it is currently $3k or 0% but it certainly wasn't the case for the past 2 years. If that's the deal now, you will most likely come out ahead if you take the money.
2. Perhaps you give people too little credit. Don't know how you can state that people are going to the dealer without reading the offer terms.
3. The advice you're getting/giving is far from sound. Paying off early only makes sense if you have a high interest loan. Plus, many people can't afford to pay $17k in one year.
4. Just because you can get a 1.9% loan doesn't necessarily mean it's easy to get. According to bankrate, one of the best offered now is at 3.24% with excellent credit.

I brought up interest because it is THE fundamental principle of finance. You consider 1.5% a joke? China has billions invested in US treasuries paying about that rate. BTW 5 yr treasuries are currently paying 2.7%.

Your advice to me is to pay off a zero interest loan early? I'm not sure what you're basing that on. The only way that makes sense is if I want to save money by not having to carry full coverage. If I did that, I'd be out ~$19.5k now instead of just ~$4k. Not very sound financial advice. At 0% the bank is effectively paying me to borrow their money. Because of the time value of money, the present value of the total payments is worth less than what I borrowed when I borrowed it. And, since interest rates have been going up, I'm in even better shape.

I'm sure you did some research and read some articles about financing a car. Some of what you read may be legit, but if they're telling you to pay off a low interest loan early, they're probably doing you a disservice.

Ditto. Good luck to our endeavors.

DEss

 

[Dpro]

None of this assumption?
1. Perhaps it is currently $3k or 0% but it certainly wasn't the case for the past 2 years. If that's the deal now, you will most likely come out ahead if you take the money.
2. Perhaps you give people too little credit. Don't know how you can state that people are going to the dealer without reading the offer terms.
3. The advice you're getting/giving is far from sound. Paying off early only makes sense if you have a high interest loan. Plus, many people can't afford to pay $17k in one year.
4. Just because you can get a 1.9% loan doesn't necessarily mean it's easy to get. According to bankrate, one of the best offered now is at 3.24% with excellent credit.

I brought up interest because it is THE fundamental principle of finance. You consider 1.5% a joke? China has billions invested in US treasuries paying about that rate. BTW 5 yr treasuries are currently paying 2.7%.

Your advice to me is to pay off a zero interest loan early? I'm not sure what you're basing that on. The only way that makes sense is if I want to save money by not having to carry full coverage. If I did that, I'd be out ~$19.5k now instead of just ~$4k. Not very sound financial advice. At 0% the bank is effectively paying me to borrow their money. Because of the time value of money, the present value of the total payments is worth less than what I borrowed when I borrowed it. And, since interest rates have been going up, I'm in even better shape.

I'm sure you did some research and read some articles about financing a car. Some of what you read may be legit, but if they're telling you to pay off a low interest loan early, they're probably doing you a disservice.

Ditto. Good luck to our endeavors.

DEss

1.It’s been 3k here in California for the last two years. I know because I have been following it. I do realize not all parts of the country get the same incentives

2 perhaps you give people to much credit lol . People can and do not read fine print it happens all the time.
Either way we can agree to disagree.

3. The advice I am giving is actually very sound and top financial planners will tell you so. To many people in this country buy stuff they can’t afford and long term credit as a way to get it. Its not sound, if you think it is you to take some economics, business and accounting clases.
You can choose to live ignorantly about money or you can be wise its up to you. Long term car loans are just a bad idea from the get go. Carrying a 6-7 year note on a car that is going to be worth less than you owe in 4-5 years is not wise financial practice. You can choose to ignroe that fact its the truth.

Plus its always wiser to not carry debt period. A House loan can be understandable but car loans? The shorter the better always.

4.Your China analogy is poor . It has no bearing on this discussion or personal debt which is what a car loan is.
Its a completely different subject and I could discuss internation business all day long as I am in the stock market and follow financial news but it is completely off topic and has no bearing here.

I Think we have exhausted this subject and no animosity. Have a good day.

 

[DEss]

1.It’s been 3k here in California for the last two years. I know because I have been following it. I do realize not all parts of the country get the same incentives

2 perhaps you give people to much credit lol . People can and do not read fine print it happens all the time.
Either way we can agree to disagree.

3. The advice I am giving is actually very sound and top financial planners will tell you so. To many people in this country buy stuff they can’t afford and long term credit as a way to get it. Its not sound, if you think it is you to take some economics, business and accounting clases.
You can choose to live ignorantly about money or you can be wise its up to you. Long term car loans are just a bad idea from the get go. Carrying a 6-7 year note on a car that is going to be worth less than you owe in 4-5 years is not wise financial practice. You can choose to ignroe that fact its the truth.

Plus its always wiser to not carry debt period. A House loan can be understandable but car loans? The shorter the better always.

4.Your China analogy is poor . It has no bearing on this discussion or personal debt which is what a car loan is.
Its a completely different subject and I could discuss internation business all day long as I am in the stock market and follow financial news but it is completely off topic and has no bearing here.

I Think we have exhausted this subject and no animosity. Have a good day.

You think I'm ignorant because I understand the power of interest and leverage? I think you need to study more from better 'financial planners.' You want to throw away your money just so you don't carry debt, it's your money to do as you please but don't pretend you understand finance when it's pretty clear you don't.

You're in the stock market and you think that qualifies you to discuss international business?!? Perhaps you're the ignorant one. I was a registered representative, and a registered principal, and a registered options/futures principal. And even I wouldn't be so cavalier as to state I'm any kind of expert in international business.

You have a good one as well, no animosity.

DEss

 

[Monkey FiST]

Does anyone have any idea on what the new rebates will be? I have a 17 fist lined up now with recaros, nav, sunroof and dealer adds like tint for $21250 out the door. Just wondering if it might be better to wait till the next rebates or wait for an 18. I have been looking for 18s in socal, but only seen 2 with recaro package, one dealer wont deal and the other is a black car, the one color I don't want. Seems like we are not getting many 2018 STs with the recaros, has anyone noticed this anywhere else?