Im currently in a lease of an 07 F150. The Lease is up in 8 months. Due to reasons out of my control involving a house I no longer live in, my ex may ruin my credit. So rather then wait untill Sept and roll the dice that she wont, I went to inquire about getting out of my lease early and buying now. If she ruins my credit, I wont be able to finance a tricycle.

When the lease is up in Sept, I was planning to buy a blue flame FX4 SCREW or SCAB. I dream about having one, and have wanted one since the 09's were first introduced. So I went to the local dealer and told him what I wanted. I told him at the very min, I wanted the FX4 plus pkg. He found one truck in that color in the area, but its got a few options on there that I would like, but dont need. Its a supercab and has the FX4 plus, moonroof, power rear slider, sync, driver pkg, and the electronic trailer break control.

He said Im eligable for up to $6,500 in rebates, plus some $2k tax rebate thing I can use on my 09 tax return, that neither he or I understood.

I owe roughly $3,500 on my current lease, cutting the $6,500 in half to $3,000 off. Then because I can get a lower interest rate from a bank other then Ford Credit, another $1k comes off that rebate amount.

Soooo He told me to buy my monthly payments would be $525 for 72months WITH $1,500 down. I asked him if the bedliner and tonneau cover and bedliner I bought for my current 07 could be used in this 2010 truck and he said neither would fit.

I told him that either 1) wave the $1,500 down and Ill pay the $525 a month or 2) throw in a bedliner and tonneau cover for free and Ill agree or 3) reduce that monthly payment to $500 or less

He said no on all of the above. I told him Id give him a final answer on monday.

I would much rather wait to Sept., but as for the above mentioned reasons, I may not be able to get financed.

What would you all do? I really want that truck. Would going to another dealer help my cause? I live in the land of 1,000 Ford dealers.

Thanks for your time!

 

I would suggest not acting like you NEED to get into the new truck NOW... The dealer probably feels he's got you by the cojones and thinks he can make the deal... I would tell him take it or leave it. If he still doesn't go for your deal, walk away. He may follow, he may not. If he does, you're in business. If not, keep walking to the next dealer.
If a dealer thinks you are emotional and making an impulse buy, he will stick to his guns. If he truly feels you are not that intrested, he is more willing to cut deals. I am assuming your lease is through thie dealer? does he know about your situation? I would go to other dealers and just tell them your lease is almost up and you were undecided as to if you would extend/buy your lease, or buy a new truck. Let them sell it to you. Don't make offers that seem desperate, even if you are.
Rule numero uno in love and marriage... It's always cheaper to keep her...

 

That's sound advice from Stephen. The best deals I have made, including for my 09 screw have been when I've conviced the salesman that I would be more than happy to leave in my own truck and go to Home Depot to buy tools I don't need.
Ern

 

Rule number 2...If you wanna play,youre gonna pay

 

I did make the mistake of telling him the situation, and because Ive bought from the guy in the past, I thought he'd be sympathetic.

If I went to ANOTHER dealer, even the one that has this truck in question, can I go to them and tell them what i was offered at and ask them to beat it? The guy/dealer I went to isnt the same dealer that has the truck in question. So its not like its on his lot and he has to move it. If he doesnt sell it, he's not the one sitting on it.

 

Yep....you can pit dealers against each other.....also..i'm pretty sure he's feading you a line of crap about the bedliner not fitting....i'm 99.8 percent sure they're the same still (as long as your getting the same bed length)

 

There's absolutely nothing wrong an ancient 2007 F-150! Financing is available for people even with some hits on thier credit.

Your dealer isn't giving you any in dealership incentives, tell him to stuff it and take your chances.

Your acting like the assembly lines are going to stop tomorrow. Get a hold of yourself.

Tim

 

You need to deal with total purchase amount, not monthly payments (it would be easier for us to help you also). Call and find out the payoff on your 07 (not the remaining lease payments, the full payoff). Then find out how much they are giving you trade in on it. The purchase of the new truck should be around invoice minus any rebates available. Then you can find the total cost of the new truck. If they won't break it down for you like this, go to another dealer.

For example:

07 payoff = 26,000
trade in allowance = 23,000

new truck = 38,000
negotiated price = 30,000

= you would be financing $33,000 + d&h + taxes

right now @ $525 a month for 72 months looks like ~31,000 at 6.9% + your 1500 for $32,500. May not be a bad deal depending on the MSRP of the new truck.

Let us know.

 

The website of the dealer that has this truck (again NOT the same dealer I went to) has it listed on their website at $35,282, which Im sure is below MSRP. I listed the options in my first post. I would guess this trucks MSRP would be about 37-38k.

I know youre not supposed to haggle the monthly payment but this is something that has to fit in my monthly budget.

So I should find this trucks invoice amount, tell them I want the rebates off of that? I also get A plan. And if they say no, should I try a 3rd dealer?

BTW, tseekins, my "old" 07 is a lease, and Ive always wanted and FX4. Its just when I leased this XLT 4X4, thats what the rebates were on. Im not buying this truck nor do I want to. Its FX4 or bust.

And remember, Id be more then happy to wait untill my lease is up, but Im worried my ex will ruin my credit before then. I got some news that makes her financial situation sound bad. Thats a whole 'nother story lol

 

Im afraid that negotiating with the Ford folks isnt going to give much results.IF it were Dodge,or GM it would likely be a good use of time.
I negotiated the purchase of my 07 F-150XL simply becuase it was during the Cash for Clunkers program,and the stealership was pushing to sell everything they could.
With that being said,Ford and its track record of retaining its value,typically wont budge off of their prices,as if you dont buy it someone else will.
Unfortunately thats what this world has come to.

 

One other thing is to try and take the trade out of it and then definitely get invoice price and take rebates off of that. Last time I bought new (2003) things were very different in the world. But - since they have given you a price - it is your turn to give them one (especially if you have a lot of dealers around). I am certainly not saying they are going to give you invoice minus rebates but at least now the negotiations can begin. Also, on your lease vehicle, I have had very good luck selling my vehicles - even lease vehicles because I use to rack up a lot of mileage - to carmax. This is a quick and easy process and the price is good for 3 days (here in FL anyway). You also need to call and find out what buyout on your vehicle with and without tax is (dealers do not pay tax on trades neither will carmax so that will typically be a large difference). Now you do have to keep in mind also the tax incentive on trading your vehicle where you purchase because the loan amount will be much different. And absolutely pit every dealer against each other via phone or email. I have worked with many salespeople and typically the ones that I deal with are not there when I go back because of their turnover. Everybody has to make money - but they don't have to make it all off you (or me). Good luck and please post any updates. Thanks, Mike.

 

If you have A plan, then that is easy - you get A plan price minus rebates, no haggling required. Have them show you the A plan price (it's on the invoice) and then subtract the rebates ($3k right now if you don't finance with Ford?).
The only haggling in this scenario is your trade.

Like I said in my previous post, if the truck you are looking at is ~38k, and you are getting out of there for ~32.5k including tax and getting out of your 07 lease, that's a pretty good deal.

 

why dont u go with the ford finance to get the 6k rebate than refinance ur loan with a bank?

 

I bought my truck three weeks ago I took the $1000 dollars Ford credit, I did mine for 60 months at 6.95, next week I'm paying off Ford and will have made an easy $1000. Let them charge you a higher interest rate and think they pulled one over on you. Just make sure you have alternate financing arrangements worked out when you do it.

 

Someone else bought the truck I was looking at, the only blue flame FX4 in the area. My search will continue, and I will let you all know whats up.

Thank you too all for your help! This site rocks!