Monsta I would try and go for another X. Why? Well I have a Crew I bought it because I had a 5th wheel but I not have a TT and would love the extra space. However I do like the crew just would like that 3rd row to seperate the kids on long trips.

 

Here's my experience, guys:

I bought a 2003 F-250. XLT, V10, Auto, 4x4, 3.83 LS, Electronic shift on the fly, Sliding rear window & Privacy glass.

The sticker MSRP was $32,970.

I have the X-Plan through work, so my price was $29,153 (which is non-negotiable).

Now, add in the tax, title, window etching fee, etc, and you're talking $31,254. At 0% (which they will do for up to 5 years now), that would run me $521 a month.

I wanted payments of $400 a month and no more. So that means I could only finance $24,000 at 0% - giving me a down payment of $7,254. That's a lot of down payment.

However, if I passed up the 0%, then Ford would give me a $2,500 incentive. This brought the total down to $28,754 out the door. I put $3,500 down, and financed the rest through my credit union at 4.25% over 6 years. My payment is $399 a month.

Was it the best way to go? Well, I got a $2,500 savings off the bat just for going with my credit union. Granted, over 72 payments I'll wind up paying $3,400 in interest. So, in effect, it's costing me $800 over 6 years to pay $120 less every month. Plus, I can actually break even or save money by paying the loan off early. I intend to, btw.

There's my ****e. Hope it helps to any of you who are running the numbers. The 2003 F-250 and F-350's have a $2,500 incentive unless it's a 6.0 Diesel. In that case it's only $1,000. Most of the other 03 Ford vehicles have $3,000 incentives, though.

 

I believe Ford based this "zero" interest loan on a 5 year payback. We purchaed a new Explorer on the 5 year zero % loan. Here is what we came up with:

$32,000 @ 60 months = $533.33 mo

$32,000 less $3,000 @ 4% - 60 mo months = $534.08

Now, my bank is only offering 6% as the lowest new car loan. So:

$32,000 less $3,000 @ 6% - 60 mo months = $560.65

Zero % loan was a better deal for us.

 

i am not exactly sure , but are they selling S.D s at 0%, just wondering

 

They were not up here in the Northwest, as of a couple weeks ago.

 

Nor in the South, i was just feelin the Pain for i purchased mine at 4.9% @ 60 months in which i am adding appx 75-100 more for the past year or so . Now i do remember that they would go down on the rate along w/ the time to pay off.

 

Well, according to the Ford Motor site (http://www.fordvehicles.com/incentives/) , they are offering 0% for 36 months on all the trucks, $2,500 cas back on the gas, $2,000 on the 7.3 smoker or $1,500 on the 6.0 smoker. I wonder what it will be next week

 

I get the best dealer response having money in hand. If anyone is looking for good financing rates check out www.peoplefirst.com. I got my loan through them when I purchased my truck two weeks ago. You fill out the application online and get a call and an email from them within about 15 minutes with an approval. Once approved they send you a blank check that can be written up to the amount you were approved for. At this point you still have no obligation with peoplefirst. You are free to go shopping until you find what you want. Once you have made the deal you just put the dealer's name on the check, write the amount of the sale, sign the check, and that is your loan. The monthly loan payments are though an autopayment directly from your checking account which I find an excellent feature. No mailing payments every month.

When I first started shopping around I wasn't telling the dealer that I had a check, under the impression that they may offer a better selling price if they believed they were getting finance kickbacks on top of the sale. But it turned out that I wasn't getting any good offers. Everythin was at or above NADA values. But once I started telling every dealer that I had a check and the title for my trade with me they were just hopping to get the deal made. I ended up getting nearly retail on my trade and $2,500 under NADA retail on my used truck. Up here in the north east it is a real buyers market. I repeatedly went through dozens of dealership lots over a three week period and everytime the same trucks were on the lot. There wasn't much moving off the lot.

It took patience and three trips to the same dealer to discuss the same truck. When it was done, the dealer wanted the check I had. Money talks, was my experience.

 

I bought a 2002 SD last November, it was a leftover, and I had intentions of utilizing Ford XPLAN. The MSRP Pricing was $ 33,770.00 the XPLAN Pricing was around $ 29,700.00. I told the Salesmen that I was an XPLAN buyer after we went for a test drive. He went to get all the information on the Truck and came back to inform me that he could sell me the truck for LESS than XPLAN. Which in this case was $ 28,600.00 (Dealership foregoing the HOLDBACK CHARGE of 3%). The reason was due to the dealership had advertised this sale in the local paper a week prior and was willing to make good. In the end I received the LOW price as well as the LOW FInance...

The issue in my case is that based on the manufactured date of my truck 11/2001 the truck had sat on this dealerships lot for almost a year and the dealer just wanted SOLD.

The thing to key in on is when shopping for a vehicle try to focus on how long it has been sitting on the lot. If over 3 months then it is costing the dealer extra to hold on. FMC will not charge the dealer interest on the vehicle for the first 3 months. Also, if a Salesmen asks you, prior to getting all the numbers, if you will be financing just simply say you have not decided... These guys are TRAINED to key in on the typical answers given by unsuspecting customers... So, be vague until you get the deal in writing...

As far as who to finance with it does not make a difference... The Bank and FMC are both trying to make money off of you the customer... Franklly, if you know the the dealership money "Buyrate" is 3% less than the local Bank, use it to your advantage to close the deal...

I have purchased 18 new vehicles 25 years ... I sold cars for a few years... and I worked for my Uncle who was FMC #1 Salesmen in the USA for 4 years back in the Sixties...

 

This is a very informative thread, but maybe I'm missing something here as a inexperienced buyer. Where does the extra 3% come from and how does the dealer make money, or charge you less for the 0% finance option than they would vs. cash? I was always under the impression that cash was always the better way to buy. If you asked the dealer for the best cash price, and the best finance price, would they be different?

PS. what's the X-Plan?

Thanks.

John, who's still trying to understand where all the extra unknown money comes from

 

Oh ****e... I just remembered that when I went to buy my F-250 I never even discussed 0% with the salesman. That's because I had already done the research and was approved at 4.25% with my credit union.

The 0% info I got from another dealer the week before when I was looking at an F-150. I know for sure they have 0% for 5 years on them.

But all the prices are correct.