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I'm wondering what type of financing options are being offered for the Lightning? Is there a balloon loan similar to the MachE where you have lower monthly payments and then a large pay-off at the end of the term? I believe they did this so that customers could receive the tax credit by purchasing their vehicle but have the financing structured more like a lease. Any insights or experiences? I'm still waiting to convert my reservation to an order but wanted to start thinking about the dollars and options.
 

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Regular reminder on loans....

Never, ever take a loan directly from Ford through a dealer without researching market rates as DNE2MM said. Find a good credit union rate, then use that as leverage on the dealer. The higher the rate the finance guy at the dealer gives you, the bigger the lump sum bonus he gets, along with the dealer.....
 

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Indeed I brought two very good Credit Union rates to the dealer who said they couldn’t beat them. A day later as I was heading over to take delivery they found a better rate - it took some negotiation with their credit union partner but they saved me about $55 a month which isn’t nothing for a long term purchase agreement.
 

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Indeed I brought two very good Credit Union rates to the dealer who said they couldn’t beat them. A day later as I was heading over to take delivery they found a better rate - it took some negotiation with their credit union partner but they saved me about $55 a month which isn’t nothing for a long term purchase agreement.
^^^^^^^^^^THIS^^^^^^^^^^^^^^^^^^^^^^^
You'll be shocked on how you very well may end up with a better Ford rate than the credit union, but you won't get that unless you know the market!!!
 

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Regular reminder on loans....

Never, ever take a loan directly from Ford through a dealer without researching market rates as DNE2MM said. Find a good credit union rate, then use that as leverage on the dealer. The higher the rate the finance guy at the dealer gives you, the bigger the lump sum bonus he gets, along with the dealer.....
How about never take out any loan on a depreciating asset that you incur additional costs in the form of interest payable to the lender. Rising interest rates has made financing a lightning even more costly. Why not buy a vehicle that you can afford OTD cash? Vehicle Loan Defaults are going to be wicked in 2023, average car payment in June 2022 was $730.
The Average Monthly Car Payment Is Now $730 As New Vehicle Affordability Gets Worse In 2022
 

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If you have the cash, that's an option...or you can invest the cash and take a loan for the vehicle and hope that the investment outpaces the loan interest. Currently, investments (stocks, bonds, etc.) are in the crapper and interest rates are rising, so maybe cash buy makes sense. I expect that the hot market will cool and while currently a F150L is an appreciating asset in the very very short term, it will depreciate (possibly very badly) in the longer term. I 2nd the OP's advice that buying a $50-100k depreciating asset, whether using cash or finance should not be taken lightly.
 

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2023 Lightning XLT Grey - Tech & Max Tow Package 2023 Kia Sportage X-Line Prestige PHEV Dawning Red
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If you have the cash, that's an option...or you can invest the cash and take a loan for the vehicle and hope that the investment outpaces the loan interest. Currently, investments (stocks, bonds, etc.) are in the crapper and interest rates are rising, so maybe cash buy makes sense. I expect that the hot market will cool and while currently a F150L is an appreciating asset in the very very short term, it will depreciate (possibly very badly) in the longer term. I 2nd the OP's advice that buying a $50-100k depreciating asset, whether using cash or finance should not be taken lightly.
Nailed it! You can even take the cash that would be used to buy the truck in full and put it in Ford stock and make your money back in a few years plus with dividends or even take that money into real estate, you can have a higher ROI than any interest you’d pay over the course of the loan and not have to worry about vehicle depreciation 🤓
 
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