[johnnycwat]

I wonder how many folks are going to be priced out of the Lightning market now that rates are moving significantly higher? That $100K+ boat and $90K truck starts to sting at 5.0% (or higher).

 

[eGeeked]

I wonder how many folks are going to be priced out of the Lightning market now that rates are moving significantly higher? That $100K+ boat and $90K truck starts to sting at 5.0% (or higher).

Thats for sure. Folks should always look in to their local credit union as well. For example, here are the different terms from mine.

 

[JC12345]

Yeah I’ll definitely not be using Ford at that rate for exceptional credit.

 

[RDale]

Thats for sure. Folks should always look in to their local credit union as well. For example, here are the different terms from mine. View attachment 2313

Yeah people definitely need to shop around for the best rates instead of just taking what the dealer gives them.

 

[instantfob]

Definitely check your local university credit union. Most of them will take alumni and local residents.
Some will offer 25bps off for "green" vehicles.

 

[FM_Jack]

Definitely check your local university credit union. Most of them will take alumni and local residents.
Some will offer 25bps off for "green" vehicles.

I will check that out Already checked my credit union and it is the cheapest I've found so far.

edit: university is cheaper, nice!

 

[instantfob]

I will check that out Already checked my credit union and it is the cheapest I've found so far.

edit: university is cheaper, nice!

Just waiting for the ship notification before I lock the rate for 30 days.

 

[jodgey]

Or your bank, usaa is at 3%

 

[ChasingCoral]

My credit union is looking pretty good:

36 Months	2.79%
48 Months	2.99%
60 Months	3.29%

 

[FM_Jack]

😮
"Aptly named the “Always-On Rate,” Ford Credit is offering locked-in interest rates across five tiers of credit scores and three purchase plans exclusively for the Lightning or Mustang Mach-E models. The dealer bulletin isn’t precisely clear, but the words “markup not available” suggest this financing method was designed to prevent dealer gouging. "

Ford Credit Aims to Curb Markups on the F-150 Lightning

The EV-specific finance program sets interest rates and minimizes markups for trucks financed through Ford Credit.

www.autoweek.com

So could you do this, and if it works, then get the loan with the lower interest rate?

 

[Berm]

😮
"Aptly named the “Always-On Rate,” Ford Credit is offering locked-in interest rates across five tiers of credit scores and three purchase plans exclusively for the Lightning or Mustang Mach-E models. The dealer bulletin isn’t precisely clear, but the words “markup not available” suggest this financing method was designed to prevent dealer gouging. "

Ford Credit Aims to Curb Markups on the F-150 Lightning

The EV-specific finance program sets interest rates and minimizes markups for trucks financed through Ford Credit.

www.autoweek.com

So could you do this, and if it works, then get the loan with the lower interest rate?

It means dealers can't add points (1%, 2%, etc.) to the finance rate and would do nothing to curb markups above MSRP.

From the article you linked: "In this case, dealers will receive a typical payout for the loan of 1% and cannot markup customer rates should they use Ford Credit. It sends a message to dealers that they can’t mark up the rate another 1 or 2 percentage points and keep the rest for themselves, according to key automotive analysts."

 

[ChasingCoral]

I just checked with a friend at Ford Credit: No special rates or incentives for Lightning. It doesn't even get the 1.9% lots of other F-150s are getting. Every rate line is listed as "STD" so that means the Always-On rates posted at the top of this thread. Strange thing is there is no rate listed for Ford Option for the Lightning either.

Time to check back with my credit unions.

 

[tib805]

Ford released their Always On-Rate finance rates for the Lightning starting on May 6th.

These rates apply for Standard Retail, Options and Flex Buy Contracts on the F-150 Lightning.

The list of rates (up to 72 months) include:

• Tier 0-1 Credit: 4.90%
• Tier 2 Credit: 6.90%
• Tier 3 Credit: 8.90%
• Tier 4 Credit: 14.90%
• Tier 5 Credit: Standard Rate

Rates (Up to 73-84 months): 100 bps (1%) increase

View attachment 2303

Hate to say it but based on credit union rates, that is not competitive. I guess I will be going to my credit union.

 

[tib805]

Thats for sure. Folks should always look in to their local credit union as well. For example, here are the different terms from mine. View attachment 2313

What's the name of your credit union? Those rates are great!

 

[eGeeked]

What's the name of your credit union? Those rates are great!

TRUE Community Credit Union | Personal & Business Finance

They actually just increased last week but they rate match, so I should be between 1.99 - 2.49 if the other local rates hold true until my truck comes. (any day now)