2024 Incentive : 5.9% for 60 months on new 2024 F-150

[brfertig]

Last I heard 1.9% for 72 months is still good til the end of February for 23' F-150's.

They offered me that for my 2023 I just bought but want sticker price, its incentives or APR. Not both. I took the 8K dollars off sticker and financed 72 months at 5.9. I am working on refinancing at 2.9 with my bank now. Fords APRs are a joke.

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[Probity]

What about specials during Truck Month if it ever happens.?

Supposedly now (Feb) is Truck Month according to Ford website (I too had always thought it was March but what do I know).

Future incentives for ’24 F150’s unknown, will have to see what if anything they push out for March/April, and for how Ford’s truck sales numbers stack up for February (and March).

IMO best ‘deals’ for an F150 will be mid to late March for left-over ’23s. As others have noted there are still boatloads of ‘23s on dealer lots (complete opposite of covid years). The bad news for most would-be buyers is they’re not exactly equipped the way a majority of buyers prefer.

Just 1 example – Grand Prairie Ford in DFW area website this morning:

*’24 F150’s – 231 (zero currently on lot?)
*’23 F150’s – 257
-XLs/STXs – 161
-XLTs – 74
-Lariat, KR, Plat., Tremor – 21
-’23 2wd – 167
-’23 4wd - 90

$$ talks and BS walks. If you’re wanting to get in a deeply discounted F150 and $$ is your main driver, a ’23 2wd STX or XLT Screw is in your wheelhouse.

Regards what the future holds regards ’24 incentives, I’d look at a couple of things – (1) Feb. sales and (2) what the incentives are for Silverados, Sierras and Rams now and in March.

1) Early March – Ford Feb. US sales/US gross stocks will be announced. Jan. 24 vs Jan. 23 F-series sales down 11.5%, Jan. 24 F-series gross stocks 169,000 units.
PowerPoint Presentation (q4cdn.com)

2) What Farley said 2 weeks ago at an auto conference:

“And so to me, that's the one [getting to top quartile in quality] I watch the most. I'm calling Kumar twice a day. How's – what's going – right now, we're in the middle of the F-150 launch. It's a major upgrade, the F-150, including the interior, far superior to any of our competitors. They're still literally a generation behind on the inside of the vehicle and we are already in the best revenue. Now, we're about to step on the gas. But that product has to launch with very little launch spike and we have to get close to Tundra. 55 problems per 1,000, three months in service. We've never done it. That's the kind of challenge it is to get to. But the top quartile is a different deal. So I would say that that's the one we're focusing on and landing the material cost reductions.”

-------------

“Good question. Yes. We said 2% [2024 pricing predicted to be down industry-wide]. And what we really look at, John said this during earnings, so I know it's not new to you, but maybe some of the investors it is. What we really look at is because [US buyers] incomes have gone up, too. We look at the ratio between incomes and monthly payment. And that's before the pandemic, it was like 13% and had been for a long time. We think we're going to get back to that level of affordability in monthly payments. And I think that's the right way to run the business.

How could it change? Well, we have a new F-150. How will our competitors react? Because, I mean, we're not the Ford that used – people used to think we are. I mean, we are not in all the segments. Our average price paid is like $51,000 in the US. We have a different portfolio than we've had in the past. And so you got to look at our pricing bet relative to those segments, but there's some offsets there. We have 60% of our revenues new. So there's some – that could be some upside. It has been actually the last couple years. We've got new product like Super Duty is way outperforming what we wrote down.

But on the other hand, I can't predict what my competitors are going to do. Truck Month is coming up in Texas this month [Feb.]. Watch that one really carefully. What will Ram and Silverado do in Texas this month with the new F-150 coming around the corner? I don't know. I think that's the one I watch the closest. I don't think there's going to be such an explosion of EVs this year. The two and three-row crossover profit, like Explorer and Expeditions, are going to be under a lot of pressure. We have a brand new Explorer and a brand new Expedition this year. So I think we're very well positioned in two and three-row crossovers, especially three-row where we bet a lot.

So it really comes down to the F-150, how the new one is received and what pricing policy my competitors have as they – as we start to scale the F-150. I don't really see a lot of variance from there.”

 

[Myrnavashaw]

Glad I got my '23 for 0% for 3 years

 

[spireland]

+1. You might as well just pay cash.

No way, I have a philosophical problem with leaving money on the table. If I can get money for less than the return on that money, I'd rather get a loan and pocket the difference. Even with today's rates its easy to beat those rates with no brainer ETFs.

 

[Mgrantham1683]

They offered me that for my 2023 I just bought but want sticker price, its incentives or APR. Not both. I took the 8K dollars off sticker and financed 72 months at 5.9. I am working on refinancing at 2.9 with my bank now. Fords APRs are a joke.

Did you really get 2.9% on a refi?

 

[obiwankabaldi]

Wow if you can get 2.9% grab that in a hurry. Best I can find is 4.9% for 60 months....

 

[brfertig]

Did you really get 2.9% on a refi?

Navy Federal is at 4.99 for 60 months. I might grab that one but I want to wait to see if the country loses its mind this election year and the rates tank.

 

[brfertig]

Auto Loan Rates & Financing in February 2024 | Bankrate

4.67 at the time of this post.

 

[tbeneteau]

for those who really & truly need to finance a vehicle, i get it. for those who don’t, i don’t feel bad for you one bit.

If I can earn 9% with the cash I have in an investment account, paying 6% on a loan is still financially "ok".

 

[Mgrantham1683]

Auto Loan Rates & Financing in February 2024 | Bankrate

4.67 at the time of this post.

Those are very misleading, go to the actual site and plug your info in, the rates will magically skyrocket. The Navy fed 4.9 on new is about as good as I've seen, Dealers hate working with them though, maybe they can match? Where did your 2.9 go?

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