While I can't find the info anywhere since, when placing my actual order for the Lighting, during that process, there was a statement about the balloon option purchase financing. Basically, almost identical to a lease, other than you actually own the vehicle rather than the manufacturer. This allows the buyer to claim the federal tax credit rather than the manufacturer.
Terms of it were very similar to a lease. Rather than a buyout offer at a residual price at the end of the lease, you can simply make a balloon payment, which would be similar to the residual value in a lease. Or, you can simply sell the vehicle back to Ford for the balance owed. Same as turning it in at the end of the lease. It seems like a great option as it allows the buyer to claim the tax credit. Other than that, still will have mileage limits and in terms of cost (aside from the benefit of the tax credit), will be equivalent to a typical lease.
Probably will be a year before they offer actual leases on the vehicle. Typical of most new models. Of course, there will also be standard financing available. Unfortunately, interest rates have just increased by a large margin, so your original payment estimates may now be higher as a result. Ford has no reason to offer incentives or cheap financing on them since they are sold out, so rate will probably be in the 5.9 to 7.9% range. Possibly even 9.9% if you don't have perfect credit.
Terms of it were very similar to a lease. Rather than a buyout offer at a residual price at the end of the lease, you can simply make a balloon payment, which would be similar to the residual value in a lease. Or, you can simply sell the vehicle back to Ford for the balance owed. Same as turning it in at the end of the lease. It seems like a great option as it allows the buyer to claim the tax credit. Other than that, still will have mileage limits and in terms of cost (aside from the benefit of the tax credit), will be equivalent to a typical lease.
Probably will be a year before they offer actual leases on the vehicle. Typical of most new models. Of course, there will also be standard financing available. Unfortunately, interest rates have just increased by a large margin, so your original payment estimates may now be higher as a result. Ford has no reason to offer incentives or cheap financing on them since they are sold out, so rate will probably be in the 5.9 to 7.9% range. Possibly even 9.9% if you don't have perfect credit.
