Any experience with Ford financing "lock in"?

[Baltedmarley]

Anyone having trouble getting Ford dealership to honor previous financing incentives?

Ordered an F150 in December 2021 when Ford was offering 0% / 60 months. Dealership confirmed in december that I was "100% locked in for this months incentives". My truck is finally on its way and the dealership is now saying they dont know what my interest rate will be. They are claiming they will not know until the invoice arrives which is a few days before the truck. Happy that my truck is finally here after months of waiting but after 2 failed orders and nearly a year of waiting, losing this financing incentive will have me in a bad place. Any guidance is appreciated. Thanks all.

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[DBL R]

I ordered my F150 during 0% financing. I was told it was “locked in”. When my truck arrived a few months later the the 0% incentive had ended. I had to “remind” my salesman that I had 0% locked in. Their “chief sales associate” or some fancy term, reviewed my order and honored the 0% incentive and cash back that was offered at time of order. Not sure if this is typical, but that was my experience.

 

[Mitch42]

My truck has not arrived yet but I called my dealer when rates started going up and ask about locking a rate in and he looked back at time of order (10-3-21) and said said I was locked in at 1.9 for 60 months

 

[PatchManager]

You need to make sure your dealer/sales person understands that your price is locked in when you ordered and your incentives are locked in when you order OR when you take delivery. You need to make sure that they understand that because some don't.

 

[MontanaFred]

Yes, my salesman is playing stupid right now on the financing, he's been doing this job a long time. The smart vincent system should be able to show all incentives available to you. Like others said, you should get the incentives at order or pick up...your choice.

I also ordered in December and the salesman keeps saying I have price protection. If memory serves me right, Ford was offering 0% for 60 months with a $500 cash back.

Bottom line, ask for the smart vincent report. Stick to your guns and do the research!

 

[SupraVu]

You're not locked into any financing agreement until the day the PS agreement is signed by you and dealer due to the ever changing int rates.

Depending on the dealer, you can lock in your trade value a few months before your vehicle is scheduled to be delivered. Written agreement would be signed by you and dealer for that.

 

[Helbros]

They need to do the price vincint for the order date, not the sale date. That will give you the interest at the time of ordering.

 

[s.v.t.]

Your dealership doesn't need to understand anything beyond pulling your Smart Vincent and seeing what incentives you were eligible for at time of order and what is available at time of delivery. You get the better of the two options. For the life of me I can't figure out why some dealerships act like this isn't a thing or that they can't offer rates that Ford Motor Credit offers. To my knowledge, the dealer gets the same incentive from Ford regardless if the rate is 0% or 10%. The dealer isn't adding any spread to Ford's rate that I know of.

 

[Baltedmarley]

Thanks everyone for the advice. Truck is supposed to be here by end of next week and I'll report back. Really awesome that all of you are here.

 

[hotrodmex]

You're not locked into any financing agreement until the day the PS agreement is signed by you and dealer due to the ever changing int rates.

This isn't about them being locked in in a financial-deal sense, but promotional rates being available for approval. This 100% is locked-in when you order. I just used my locked-in promotional rate from order date (January).

 

[shall]

I’m working through the same issue. Locked in 0% for 72 months back in Jan and have the paperwork to back it up. Dealer is saying that they can only honor the current Smart Vincent rates.

Should have this all resolved today and will report back.

 

[Baltedmarley]

I’m working through the same issue. Locked in 0% for 72 months back in Jan and have the paperwork to back it up. Dealer is saying that they can only honor the current Smart Vincent rates.

Should have this all resolved today and will report back.

Thanks. Let us know what happens.

 

[shall]

Picked up the truck yesterday - dealer claimed that the 72 month 0% was for MY21 conversions to MY22, therefore my order did not qualify. Showed me the paperwork confirming the qualifiers. Dealer took accountability but could not honor the deal… not sure if they locked a current or a past deal, but ended at 60 / 0%.

I do feel like I could have pushed to get the rate I ”locked” in Jan, but ran out of time and needed to get the deal done.

 

[MontanaFred]

Thanks everyone for the advice. Truck is supposed to be here by end of next week and I'll report back. Really awesome that all of you are here.

Any updates to what happened with your situation? My truck is scheduled to arrive early August and I am sticking to my guns for the December incentives (0% for 60 plus $500 cash back). How did it work out for you?

 

[Baltedmarley]

Any updates to what happened with your situation? My truck is scheduled to arrive early August and I am sticking to my guns for the December incentives (0% for 60 plus $500 cash back). How did it work out for you?

Yeah. So funny thing, the person who told me my truck would be here was fired and someone else from the dealership called to say my truck was still in production with an ETA of mid-Aug which makes me less than happy. However, I did get him to send me a text from the dealership promising the 0% financing which i feel is a step in the right direction. We will see what transpires once my truck gets here. 292 days since my original order, 194 since rebalance.

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