[Trentb]

According to Ford Authority, Ford is further increasing the cost of the F-150 Lightning and Mustang Mach E by increasing the interest rate charged when financing one of these vehicles. The rate is going up by .5% from 6.9% to 7.4%. This will increase the interest expense on $50,000 borrowed by $4,300 over the life of a 72 month loan.

https://fordauthority.com/2023/01/ford-ev-interest-rates-raised-for-two-models/

 

[jimfigler]

Use a credit union. Parson FCU has 3.79% on EVs

 

[Txxthie]

Use a credit union. Parson FCU has 3.79% on EVs

Not as frictionless to use a credit union and the qualified borrower pool might be small for those loans. Crazy rates to buy crazy expensive trucks that currently have limited use as a truck, especially in colder environments. Add on higher electrical rates in some states and the affordability pendulum has swung handily toward ICE and hybrid. Ford has found their solution to losing money building EV’s 🤔. Didn’t GM just announce a big investment into ICE recently? Maybe it has merit in the short term at least!