All those leftover 06's...

boatillo · Aug 24, 2006

Found a Legend Lime GT still on a nearby lot - has every option and the color that I want - but I gotta work them down on that price! I have never bought a new car, heck never even bought a used car, but if I can swing it down enough I may be able to afford having some driving fun

What do I do guys? I know Ford is offering 0% APR for up to 72mths, $1500 cashback, and a 5yr powertrain warranty on leftover 06's now - I may also be able to get another $500 cashback for being enrolled in a college course. Just had my first chat with the salesman on the phone about the car, the MSRP is $29965 and he started off with an offer of $500 over what he said was his cost ($27771) so $28271 BEFORE any specials from Ford.

I don't know, but that seems mighty high for an 06 in a fairly nonwanted color. Now it is pretty loaded with 18" polished rims, shaker 1000, IUP, active antitheft as options....but he told me it was $1500 cashback OR the 0% APR, not both. Lying? I told him I would be over in his town labor day weekend and may stop by for a testdrive - also that I was seriously contemplating buying a used 03/04 Mach 1 instead of this 06.

Cliff notes:

a) Legend Lime GT, good options for $26,271 and whatever financing I can get myself.

b) Same car for $27,771 and 0% APR for 5yrs

c) Keep looking for that perfect Azure Blue Mach 1

EDIT: Just got this in an email for the local Ford dealer and thought many would like to know!

"Hello Everyone!
I hope you are having a good day. I just wanted to drop you a quick note to let you know that Ford has just announced the lowest finance rates EVER. 0% financing for 72 months on ALL 2006 vehicles. That's right, ALL 2006's even including Mustangs and Power Stroke Super Duties....

BUT GET THIS....

Ford rates everyone's credit on a tier basis. 0 being the best, 5 the worst. In the past the lower teir levels would have extremely high finance rates. NOT ANYMORE!!

0% FINANCING FOR 72 MONTHS
IS BEING OFFERED FOR ALL TIER LEVELS!!!!"

FNG 2001 · Aug 24, 2006

http://www.fordvehicles.com/?referrer=http://www.ford.com/en/default

I think it is either the 0% or the rebate, not both. I would go with the financing, if you qualify. I know I may get something before labor day .

The Fang · Aug 24, 2006

The 0% interest will save you probably $5000. But only get what you want and will be happy with. Can you afford 475 a month and the insurance?

boatillo · Aug 24, 2006

tbh, I live in an extremely economically depressed area - I bring home $970 and wife $1440 every 4 weeks. Don't all laugh at once. I doubt we could afford something like that...oh well...guess I will check out the leftover v6's around labor day.

FNG 2001 · Aug 24, 2006

The Fang said:
The 0% interest will save you probably $5000. But only get what you want and will be happy with. Can you afford 475 a month and the insurance?

Where did you get those figures? I got a quote for a loaded Premium GT (manual) for $26,750. I am not a math wiz, but at 72 months @ 0%, with 8.25% Tax and title fees puts me at $408/mo. Ford financing requires 10% down ($2,675) which lowers the monthly to $371/mo.

boatillo said:
tbh, I live in an extremely economically depressed area - I bring home $970 and wife $1440 every 4 weeks. Don't all laugh at once. I doubt we could afford something like that...oh well...guess I will check out the leftover v6's around labor day.

I'm not lauging at all. I would strongly recommend not getting a new GT, unless your house is paid for, the kids are taken care of etc. Don't blow half your income on a car payment. Take care of that wife of yours. Any cahnce of moving to an area with a better economy?

Marine One · Aug 25, 2006

Back in july there was a dealer in Raleigh, NC who offered me $3000 off sticker for any 06 GT that he had in his lot. With the 07s now on the lots I would think you should able to do at least that well before any incentives are applied.

351CJ · Aug 25, 2006

The 0% APR / 72 months is a far better deal than taking the $1,500 rebate and getting financing elsewhere. Over the life of the loan it will save you about $4,000.

Of course to decide if you can afford the car you need to add in your other costs, sales tax, insurance and property tax (if applicable).

FNG 2001 · Aug 25, 2006

351CJ said:
The 0% APR / 72 months is a far better deal than taking the $1,500 rebate and getting financing elsewhere. Over the life of the loan it will save you about $4,000.

Of course to decide if you can afford the car you need to add in your other costs, sales tax, insurance and property tax (if applicable).

I agree. I wasn't planning on getting my car this soon, but may have to jump on this. I really see myself keeping my next car for 6+ years, so 72 mo @ 0% is pretty nice. If you can wheel and deal the price down, even sweeter. How desperate do you think they will get? Does anyone think I can get a premium GT for 0 down, $350/mo total? I know that is reaching, but I'm giving it a try.

If not, 2007s appeal to me more with the auxillary jack for the ipod, and the SE Mustangs coming up. 2006 has me stretched a little thin with a new house purchase and an X5 for the wife. I'm aching for a mustang to play with though.amnit:

stanmckinney · Aug 25, 2006

Do the math. It would be close. With the right deal at 0percent, it is possible. $350 at 72 months and 0 percent would finance $25,200. There are sales taxes to consider. It might happen.

boatillo · Aug 25, 2006

Well heck I can buy that GT this labor day weekend then We've been saving and put $5-7k down and 0% = $260-300 a month depending on what bottom line I can get.

I think I may like the Mach 1's more though...the back end of the s197 just seems so fat and round.

APowers · Aug 26, 2006

It looks like Fords plan is to force the dealerships to sell the remaining 05 and 06's before they are going to let them have the 07's in mass. The upcoming Labor day weekend could really be an opportunity if they decide to throw out some deals to clear inventory. The dealership I used is having a lot of unscheduled delays getting the standard lot inventory on the 07 Mustangs, this has not effected the special orders.

bamaster · Aug 26, 2006

Well, I just picked up a Mustang under this promotion.

2006 Mustang GT
Torch Red
Premium Edition
Dark Charcoal Leather
Automatic
Interior Upgrade Package (Satin)
Wheel Locking Kit
18" Premium Aluminum Wheels

MSRP: $29,370

Got it for X Plan pricing (without having X-Plan pin) at 0% for 60 months.

I'm pretty pleased with the deal. Although the buying process was not without some negotiations.

The Fang · Aug 26, 2006

boatillo said:
put $5-7k down and 0% = $260-300 a month depending on what bottom line I can get.

that is what I did so to swing a small payment is a lot easier. I only wish I had the 0%

D.Hearne · Aug 26, 2006

boatillo said:
tbh, I live in an extremely economically depressed area - I bring home $970 and wife $1440 every 4 weeks. Don't all laugh at once. I doubt we could afford something like that...oh well...guess I will check out the leftover v6's around labor day.

This is not intended as a slight, but with your income, I seriously doubt you'd qualify for the 0% financing. Every time I've ever seen that offer, it also says in fine print "for qualified customers only". I bought my 06 last December with a $7000 down payment and with the purchase price of $26,010, my notes with 6.6% interest on a 60 month loan are $415 a month. Save your money and work to improve your lot in life before buying a new car such as the GT. Belive me, "I've been there, done that" in your shoes.

The Fang · Aug 26, 2006

The last time I saw 0% it was for only 36months. So dont freak when they say that is the only option for 0%.

351CJ · Aug 26, 2006

D.Hearne said:
This is not intended as a slight, but with your income, I seriously doubt you'd qualify for the 0% financing. Every time I've ever seen that offer, it also says in fine print "for qualified customers only".:

Qualification depends upon your credit score. Your score + what you owe elsewhere (mortgage, credit cards, other car loans, other loans of any type) can be more important than your income.

Horrific_Ending · Aug 26, 2006

FNG 2001 said:
Where did you get those figures? I got a quote for a loaded Premium GT (manual) for $26,750. I am not a math wiz, but at 72 months @ 0%, with 8.25% Tax and title fees puts me at $408/mo. Ford financing requires 10% down ($2,675) which lowers the monthly to $371/mo.

I'm not lauging at all. I would strongly recommend not getting a new GT, unless your house is paid for, the kids are taken care of etc. Don't blow half your income on a car payment. Take care of that wife of yours. Any cahnce of moving to an area with a better economy?

I thought it was 0 Down and 72 moths @ 0%?

boatillo · Aug 26, 2006

It is 0% for UP to 72 months, or any other time between.

My credit is perfect, wife's credit is perfect - we have absolutely no debt and are currently renting a 4bdr/3bth home (from her parents) for $300 a month. No children, and are not planning on them for 5+ years. Our combined salaries before deductions/taxes amount to $50,000 a year, which I don't really think is all that small. I am halfway through a graduate degree and she already has a Master's. I am looking at a potential $6000 a year raise very soon. How could I not qualify for Ford financing?

Yea, our pay stubs look pretty sad but they don't paint the whole picture.

BUT an immaculate 03 Mach 1 just went up for sale NEAR ME!!!!! Its exactly what I am looking for, so if his asking price isn't too steep I will be a 1967 and 2003 owner soon

dotbomb · Aug 27, 2006

On a pure cash basis I'd rather have $1,500 up front than save $4,000 over 72 months. People should consider inflation in loan cost/benefit scenarios. You can bet Ford has.

If you are working it from a monthly payment/affordability aspect then yeah, take the 0%.

boatillo · Aug 27, 2006

Yea, and at 0% you're BEATING inflation - from 2000-2006 the US has seen an average 3.5% inflation per year. IE at the end of your 6yr loan in 2012, you are paying Ford 2006 dollars rather than 2012 dollars + whatever interest they would normally tack on top of that. Ford would be loosing money from inflation and lost profits (or safety net) on any % over that year's inflation rate.

There are times when a dollar today is worth more than a dollar next year - but this isn't one of them. 0% > $1500

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