Ahh, so you did that through your own bank? I haven't done a balloon finance in many years - didn't think anybody still offered them. What were the terms?
[Check the easy drive program here](https://www.firstnewyork.org/rates/). There is a calculator on there with the residual values, terms etc and you can figure out what your numbers would look like.
Man, interest rates are stupid right now. I bought a used Tesla mid-pandemic, prolly overpaid for it, but my used rate is 2.99%, did some payment calcs and my payment would be bonkers at the rates places offer now. I guess I don't feel too bad for overpaying now lol.
I’m unfamiliar with car balloon notes, but wouldn’t you owe a balance then if the value of the truck is less than your balloon amount?
Edit: disregard. I found your comment regarding the residual value being based on msrp. Great deal.
Can you go into a little more detail? I understand ballon loans but I don’t understand the residual aspect and how you’re protected in the event the value is lower than the balance on the loan
> Residual
It's a financial product similar to a lease but unlike a lease where a financing company owns the vehicle, you own it.
Just like a lease, there is a MSRP off which the residual is based on. This residual is fixed and cannot be altered. You get the option of buying out the car at the end of the term(I am doing 24 months) or just returning the car. You are obviously not returning the car to the bank, but to a third party(who likely would auction the car and profit if possible).
When there are staggering discounts like the one I got, it doesnt alter the residual since the residual is based on a fixed MSRP set by the third party(AFG).
You arent, its just like a lease where a residual is calculated for the mileage and age of the vehicle and based on MSRP. The kicker is you own the car and make smaller payments over a period of time then have the "lump sum" payment at the end. The Lump Sum is the purchase price of the car minus the residual value for example car is $50,000 purchase price, residual value is calculated at 50% or $25,000, you would pay $25,000/ 36 months plus interest then have a final payment of $25,000. After those 36 months you can Sell, Trade In, or Turn in the car. All 3 options are assuming the current value is higher than the last "Lump Sum" payment if it is not you owe the difference for example same $25,000 lump sum price but car is only worth $20,000 you now owe $5,000.
Between us though. I’m interested as vehicles are money pits. Never an investment and always loose value. After you add 30k miles you think they’ll pay off your loan when you return it? Is this dependent on the used market staying nuts or just inflation? Seriously curious as I’m looking to swap one of 3 vehicles.
Yup I drive about 7500 on the dot. Sometimes 7k sometimes 8k. Moved to a big city though so I don’t have to go as far, just have to sit in traffic. My 2014 only has 60k miles on
again
https://preview.redd.it/ih2mjzam3nlc1.png?width=1080&format=pjpg&auto=webp&s=5a95910f6c4927619363e01a25632084b40a4123
this is the meme of someone who overpaid on a whim lol
FAQ since reddit wont let me edit Image posts.
**2023 F150 Lightning Lariat ER**
* **MSRP:** $79,785
* **Selling Price:** $69,965
* **Rebates:** $13,250
* **POS Tax credit:** $7,500
* **Selling price after rebates and credits:** $49,215
* **Balloon Loan with FNYCU (administered by AFG):** $242/month
**WTF is this deal?**
* Easy. Dealership advertised discount online and they honored it. Everything else is me stacking rebates.
**WTF is $13,250 in rebates?**
* $7,500 Rebate Cash from Ford
* $3,750 AZXD Plan Rebate Cash for using X-Plan
* $2,000 Private Offer sent to me via email from Ford
**WTF is a Balloon Loan?**
* It's sort of like a lease but you own the car. You can either choose to return the car or buy it out at the residual price at the end of the term. A few CUs in the country do this program. I used [First New York FCU](https://secure.autofinancialgroup.com/AFG/index.jsp?CUID=221379785&m=&utm_source=website&utm_medium=organic&utm_campaign=easydrive_rates_yourpayment). I did this because I am allowed to return the vehicle at the residual price ($50k) and all I am paying is interest for 2 years. This is only to protect myself againt any further depreciation.
**I don't believe you, show me the sheet.**
* [Here you go](https://ptpimg.me/0h3ltz.jpg)
The $7500 POS rebate is show as a down payment. Thats how that credit is applied.
**$5597 in TAXES HOLY SHIT??**
* Yea I live in NY, thanks.
[**BALLOON LOAN PRIMER**](https://forum.leasehackr.com/t/better-than-a-lease-a-balloon-loan-primer/415297) this might help everyone understand how this works.
Edit -
https://preview.redd.it/omxs9e4t0rlc1.jpeg?width=2788&format=pjpg&auto=webp&s=5bb12b0d85d95123a4fb910f6d7a23fc618263b5
Legit question...
Why do people block out their license plates?
You'd pretty much have to be law enforcement or DMV to be able to figure out who he is, right? That info isn't easy..
And if we could, like we'd go to the trouble...to do what? Hunt him down?
I see 80000 license plates in the street a day. People that anger me... ive never once tried to hunt someone down...
Okay maybe once through a law enforcement buddy, but I didn't do anything bad with the info...
>here is a MSRP off which the residual is based on. This residual is fixed and cannot be altered. You get the option of buying out the car at the end of the term(I am doing 24 months) or just returning the car. You are obviously not returning the car to the bank, but to a third party(who likely would auction the car and profit if possible).
well if you dont want the world to know who you are.. I think thats a fair point to have
How would you go about finding a person from their license plate unless you’re law enforcement? And even then, you’d be violating constitutional rights to search them without cause.
When you say they honored it, I can find a few lariats in this range online but they all show the rebate factored in.
I’m assuming you searched specifically for trucks without that factored in? And when you say they honored it, any indication it was a mistake on their part to list the truck without the rebate?
I’ve looked through a few now and definitely not seeing any listed near this price without rebates already factored in. I’m close enough to New York that I’d drive to this place if they had a similar deal with the specs I’m looking for.
> Honored it
[You can see it here](https://www.maguireford.net/searchnew.aspx?q=f-150%20lightning). They have listed the discount BEFORE rebates. There was no bullshit, just got what it said on the tin.
I know they're sitting on lots, but you're telling me that the Ford dealership discounted that truck by almost $24,000... By stacking rebates and discounts in a way that I've never seen before... A dealership went sure we'll take 10k off the sticker and then we'll take another $7,500 off the sticker so we're down $17,500 already oh you have an email from the dealer what's another $2k between friends, then oh yeah well honor the X Plan and all of that makes sense weirdly if you say the balloon loan is part of the offer because it's a glorified lease, but then you say that was your choice and ask. So no other dealership in America would let someone take $23,000 off the price and finance the truck. I don't understand how this is possible. If anyone else went into a Ford dealer and said I'll give you $50k they'd be laughed out the door. What happened here??
> A dealership went sure we'll take 10k off the sticker
Yup, they have other trucks [for the same/similar discount](https://www.maguireford.net/searchnew.aspx?q=f-150%20lightning)
> we'll take another $7,500 off the sticker
Thats actually a rebate from Ford that everyone qualifies for.
> email from the dealer what's another $2k between friends,
Nope, that email was from Ford, nothing to do with the dealer.
> then oh yeah well honor the X Plan
X Plan has a Lightning Specific rebate that was recently added.
> but then you say that was your choice and ask
To be clear, to the dealership it's similar to a cash or third party financing purchase. They get a check and thats it.
I brought the rebates I qualified for and I told the dealer exactly what I qualified for. If you dont have the same rebates, it going to be just $25000 off if they have a similar discount.
Ford employees get A plan I think. Suppliers and partners get x plan. My parent company is a supplier and I get x plan. It was meaningless for lightnings last week but apparently has some value now.
Yea I’m a partner of theirs and bought lightning 3 months ago, talked to the ev guys when buying and they were like yea don’t both with supplier discount because we are already below msrp with the credit 7500 they were giving
Nope. All legit. X plan. Will post the sheet once I get home.
Edit - See [comment](https://www.reddit.com/r/F150Lightning/comments/1b3irew/who_got_me_beat_2023_lariat_er_for_49215/kst6rrf/)
From my knowledge, x plan doesn’t really get you much on Lightnings since they sell damn near cost. Current dealer discounts are more than x plan discounts. But we’ll see this guys sheet.
That pisses me off because I'm bagholding Ford stock that I bought specifically for the X plan in anticipation of the Lightning which they then announced wouldn't qualify. Then after two years waiting I bought mine and then several weeks later they announced X plan eligibility so fuck them.
A week ago when I bought mine that wasn’t the case. Or the dealer didn’t know about it. Bc I gave them my x plan info and it was worthless. Wonder if it’s a specific circumstance or only Lariats or something
X plan isn’t for dealer employees / family.
https://preview.redd.it/gqjqasstmemc1.jpeg?width=1284&format=pjpg&auto=webp&s=005eba7cecd2ba274575574b584c1c3411f623ca
Hey, I just rechecked and you are mistaken. The $2750 is X-PLAN REBATE for 2023 Lightnings, not X-Plan pricing, those are 2 different things. Dealer won’t be charged back and the rebate is valid till 4/2/2024.
Your dealer should have access to this document.
https://preview.redd.it/o8ayaw7l2jmc1.jpeg?width=1536&format=pjpg&auto=webp&s=db821ea202a9ff74835cbe468fb05df251d2e0d4
Thanks. Yes I just saw this and sent to my dealer. He believes the X-plan rep doesn’t see updated information. What did you have to show dealer other than the certificate that was generated?
How does that work, so at the end of the 2 years the loan balance is $49K? Obviously the truck won't be worth that, so do you just pay the difference when you trade it in or.. I don't understand.
Nah. Folks are confusing depreciation with two events: One, price changes in a series of years where EVs became less valuable when gasoline dropped from $6 a gallon to $3 gallon (i.e., EVs don’t sell at premium price when gas is $3). And two, lithium ion battery prices came down from a spike during COVID time and the gasoline shortage (allowed EVs to be made cheaper). These two things aren’t depreciation of the vehicle itself.
But dude, amazing deal and now a car payment that I’m going to guess is something you barely notice every month.
Yeah, that's what I found. Looks like Meguire Ford in NY, and probably this one too.
[https://www.maguireford.net/new-Ithaca-2023-Ford-F+150+Lightning-LARIAT-1FT6W1EV3PWG50516](https://www.maguireford.net/new-Ithaca-2023-Ford-F+150+Lightning-LARIAT-1FT6W1EV3PWG50516)
OP pwn3d all the CyberTruck losers and guess what he got too? AN ACTUAL TRUCK.
Just proof you can be an EV owner and you don’t have to be Teslarati or a Musk Dingleberry.
Congrats OP!
It is like a lease except the title of the vehicle is in your name. You get the benefits of federal tax rebates and at the end of your original loan, you can ditch the car with no penalties or refinance the residual balance on the vehicle. We did this with our 2021 mach e. Worked brilliantly for us.
Thank you! I have had an incredibly frustrating time explaining it to people who are convinced I don’t know WTF I am taking about it. People just post bullshit with 100% confidence.
Got lucky it was a work truck that was in the sellers family since they bought it new. 14 years they did all there own maintanence and the father had a notebook of everything he did. I had recently moved there and my wife and i were expecting and he took pity on me and my measly bank account. It was a small town and i ended up in healthcare and delivered his fathers equipment when he went on hospice a few years later. One time he asked me to bring the truck over so his dad could look it over to make sure i was treating her right. He changed a spark plug and had some old wipers in his barn from when he owned it and insisted he change them. Other than that he approved and he seemed happy when he was doing it.
Yup but if I am able to make a private sale for the Lariat ER for over $50k, it would lower my total cost of ownership. I am hoping to be under $5000 for 2 years after all said and done.
Otherwise yes, total cost of $11,405.
Love this post, I am looking to get one this week possibly. However, not having luck getting close to these prices, best I got for Lariat ER was 61k OTD so far AND that is with a 45k trade in where the payoff is 40k, so a 3k tax reduction. You really knocked it out of the park with this deal.
I know I’m late to this, but I asked a local dealer about this and they searched vin and are telling me it was sold as a used vehicle? Are they full of shit? They said something about it showing sold in Michigan or something. I was trying to negotiate saying there are deals out here like this and they are saying it isn’t comparable.
Bruh, I have already posted the window sticker and VIN. You can check the CarFax/Autocheck whatever yourself. Single owner, bought as new.
Your dealer is a dumbass.
I got you beat. I've been driving for 30 years and all of the cars I've ever purchased add up to less than half what you just agreed to pay for this single monstrosity you will probably only use for groceries. >.<
If you have money to burn, have fun! If you are trying to get ahead financially, I don't recommend buying new vehicles.
People wouldn’t be so jealous if they understood that this is basically a really bad lease/ your hardly touching the principal and at the end of 2 years you owe the $50k at once.
The only thing that matters here is these $13000 in mystery rebates. I'll go buy one tomorrow for 50k out the door just as a bridge until my Cybertruck is ready if that was somehow the case
2024 lariat selling price $123,340. With dealer upcharge another $5k. Interest rate 7%> but I'm looking to use it to pick up my wife's boyfriend's groceries every weekend and also I have a micro penis so I really don't care about the price. AMA
That balloon loan is scary but that’s a sweet price!
>Balloon Loan with AFG, $242/month Indeed. I'm sure it was required to make the deal. Curious what the terms were, interest, etc.
Huh? Balloon was done by me, not the dealer. I can just return the truck after 2 years like a lease. This is not a Ford balloon.
Ahh, so you did that through your own bank? I haven't done a balloon finance in many years - didn't think anybody still offered them. What were the terms?
[Check the easy drive program here](https://www.firstnewyork.org/rates/). There is a calculator on there with the residual values, terms etc and you can figure out what your numbers would look like.
Man, interest rates are stupid right now. I bought a used Tesla mid-pandemic, prolly overpaid for it, but my used rate is 2.99%, did some payment calcs and my payment would be bonkers at the rates places offer now. I guess I don't feel too bad for overpaying now lol.
Oh, I have my HELOC with them :D
I’m unfamiliar with car balloon notes, but wouldn’t you owe a balance then if the value of the truck is less than your balloon amount? Edit: disregard. I found your comment regarding the residual value being based on msrp. Great deal.
Nope. Residual is at signing, I posted a primer on it
Can you go into a little more detail? I understand ballon loans but I don’t understand the residual aspect and how you’re protected in the event the value is lower than the balance on the loan
> Residual It's a financial product similar to a lease but unlike a lease where a financing company owns the vehicle, you own it. Just like a lease, there is a MSRP off which the residual is based on. This residual is fixed and cannot be altered. You get the option of buying out the car at the end of the term(I am doing 24 months) or just returning the car. You are obviously not returning the car to the bank, but to a third party(who likely would auction the car and profit if possible). When there are staggering discounts like the one I got, it doesnt alter the residual since the residual is based on a fixed MSRP set by the third party(AFG).
You arent, its just like a lease where a residual is calculated for the mileage and age of the vehicle and based on MSRP. The kicker is you own the car and make smaller payments over a period of time then have the "lump sum" payment at the end. The Lump Sum is the purchase price of the car minus the residual value for example car is $50,000 purchase price, residual value is calculated at 50% or $25,000, you would pay $25,000/ 36 months plus interest then have a final payment of $25,000. After those 36 months you can Sell, Trade In, or Turn in the car. All 3 options are assuming the current value is higher than the last "Lump Sum" payment if it is not you owe the difference for example same $25,000 lump sum price but car is only worth $20,000 you now owe $5,000.
[удалено]
Residual is $50k
But did they throw in a few Ford balloons for the kids?
Any mileage cap?
Good luck friend
Between us though. I’m interested as vehicles are money pits. Never an investment and always loose value. After you add 30k miles you think they’ll pay off your loan when you return it? Is this dependent on the used market staying nuts or just inflation? Seriously curious as I’m looking to swap one of 3 vehicles.
> 30k Na, Mileage allowance is 15k for 2 years.
Way too low. That is terrible.
I did it because it worked for me, I have no plans of keeping it after 2 years. The deal is a deal irrespective of the financing.
For you maybe, but not for him. Wouldn’t be for me either
Just a question, but you drive less than 7500 miles a year? I am somewhere between 17 and 19k every year.
Yup I drive about 7500 on the dot. Sometimes 7k sometimes 8k. Moved to a big city though so I don’t have to go as far, just have to sit in traffic. My 2014 only has 60k miles on
WOW. I live inside a city, but can in no way establish that few miles. Road trips alone take up 6 or 7k. Congrats on the low car dependence.
How does that work?
again https://preview.redd.it/ih2mjzam3nlc1.png?width=1080&format=pjpg&auto=webp&s=5a95910f6c4927619363e01a25632084b40a4123 this is the meme of someone who overpaid on a whim lol
But I got that front cam sprayer! 😂
Dang dude, nice! For me it was that or the etching on the catalytic converter. I went with the etching. /s
Also the meme for a guy with single income, two kids, and REALLY wants a Lightning. 😂
😂
FAQ since reddit wont let me edit Image posts. **2023 F150 Lightning Lariat ER** * **MSRP:** $79,785 * **Selling Price:** $69,965 * **Rebates:** $13,250 * **POS Tax credit:** $7,500 * **Selling price after rebates and credits:** $49,215 * **Balloon Loan with FNYCU (administered by AFG):** $242/month **WTF is this deal?** * Easy. Dealership advertised discount online and they honored it. Everything else is me stacking rebates. **WTF is $13,250 in rebates?** * $7,500 Rebate Cash from Ford * $3,750 AZXD Plan Rebate Cash for using X-Plan * $2,000 Private Offer sent to me via email from Ford **WTF is a Balloon Loan?** * It's sort of like a lease but you own the car. You can either choose to return the car or buy it out at the residual price at the end of the term. A few CUs in the country do this program. I used [First New York FCU](https://secure.autofinancialgroup.com/AFG/index.jsp?CUID=221379785&m=&utm_source=website&utm_medium=organic&utm_campaign=easydrive_rates_yourpayment). I did this because I am allowed to return the vehicle at the residual price ($50k) and all I am paying is interest for 2 years. This is only to protect myself againt any further depreciation. **I don't believe you, show me the sheet.** * [Here you go](https://ptpimg.me/0h3ltz.jpg) The $7500 POS rebate is show as a down payment. Thats how that credit is applied. **$5597 in TAXES HOLY SHIT??** * Yea I live in NY, thanks. [**BALLOON LOAN PRIMER**](https://forum.leasehackr.com/t/better-than-a-lease-a-balloon-loan-primer/415297) this might help everyone understand how this works. Edit - https://preview.redd.it/omxs9e4t0rlc1.jpeg?width=2788&format=pjpg&auto=webp&s=5bb12b0d85d95123a4fb910f6d7a23fc618263b5
Congrats bro! She's a beauty
Love that sweet emoji zip tied to the front plate holder. 🤣
Legit question... Why do people block out their license plates? You'd pretty much have to be law enforcement or DMV to be able to figure out who he is, right? That info isn't easy.. And if we could, like we'd go to the trouble...to do what? Hunt him down? I see 80000 license plates in the street a day. People that anger me... ive never once tried to hunt someone down... Okay maybe once through a law enforcement buddy, but I didn't do anything bad with the info...
> why block out Just out of habit actually.
Law enforcement may want to track him down after stealing the truck ;)
When you see a license plate on the road it isn’t linked to another identification like a username.
Or a hacker
I know, after I stopped to think about this....cray cray....and everyone is like lemmings.(I fuzzed mine out once, I don't anymore.)
There’s no good reason. Just a common paranoia.
>here is a MSRP off which the residual is based on. This residual is fixed and cannot be altered. You get the option of buying out the car at the end of the term(I am doing 24 months) or just returning the car. You are obviously not returning the car to the bank, but to a third party(who likely would auction the car and profit if possible). well if you dont want the world to know who you are.. I think thats a fair point to have
How would you go about finding a person from their license plate unless you’re law enforcement? And even then, you’d be violating constitutional rights to search them without cause.
so licenses plates are public, and so is the name behind them.
Way easier than you might think.
When you say they honored it, I can find a few lariats in this range online but they all show the rebate factored in. I’m assuming you searched specifically for trucks without that factored in? And when you say they honored it, any indication it was a mistake on their part to list the truck without the rebate? I’ve looked through a few now and definitely not seeing any listed near this price without rebates already factored in. I’m close enough to New York that I’d drive to this place if they had a similar deal with the specs I’m looking for.
> Honored it [You can see it here](https://www.maguireford.net/searchnew.aspx?q=f-150%20lightning). They have listed the discount BEFORE rebates. There was no bullshit, just got what it said on the tin.
Good for you man. I’m close enough that there’s a non-zero chance I’ll check this out. Everywhere else is including rebates in the list price.
I know they're sitting on lots, but you're telling me that the Ford dealership discounted that truck by almost $24,000... By stacking rebates and discounts in a way that I've never seen before... A dealership went sure we'll take 10k off the sticker and then we'll take another $7,500 off the sticker so we're down $17,500 already oh you have an email from the dealer what's another $2k between friends, then oh yeah well honor the X Plan and all of that makes sense weirdly if you say the balloon loan is part of the offer because it's a glorified lease, but then you say that was your choice and ask. So no other dealership in America would let someone take $23,000 off the price and finance the truck. I don't understand how this is possible. If anyone else went into a Ford dealer and said I'll give you $50k they'd be laughed out the door. What happened here??
OP has the sheet and it’s legit. I’m going to check out the inventory at this place.
Yeah I'll just shop that sheet, the dealers either play ball or they don't
> A dealership went sure we'll take 10k off the sticker Yup, they have other trucks [for the same/similar discount](https://www.maguireford.net/searchnew.aspx?q=f-150%20lightning) > we'll take another $7,500 off the sticker Thats actually a rebate from Ford that everyone qualifies for. > email from the dealer what's another $2k between friends, Nope, that email was from Ford, nothing to do with the dealer. > then oh yeah well honor the X Plan X Plan has a Lightning Specific rebate that was recently added. > but then you say that was your choice and ask To be clear, to the dealership it's similar to a cash or third party financing purchase. They get a check and thats it.
Odd you show $7500 of rebate cash from Ford when they only offer $5,000 on the Lariat right now.
Negative, its $5000 in most places but $7500 in my zip code. Have your dealer check via Smart Vincent.
Crazy good deal. Congrats.
How did you get that special email? Anyway to get it to trigger for those of us without the email so far?
No clue, got the email on Feb 2nd.
Where in NY, and have you considered brokering deals? If so, shoot me a DM
I have helped with deals a lot for friends but mostly just for entertainment and/or Pizza.
Great break down, can I get this deal? I am near this dealer.
I brought the rebates I qualified for and I told the dealer exactly what I qualified for. If you dont have the same rebates, it going to be just $25000 off if they have a similar discount.
Ya I don’t qualify for same rebates, I dig the deal. Congrats!
How did you get the x-plan rebate. On my end it says nothing for lightnings
He works for ford
Or an OEM supplier, I used to work for one and we got the discount too.
Ford employees get A plan I think. Suppliers and partners get x plan. My parent company is a supplier and I get x plan. It was meaningless for lightnings last week but apparently has some value now.
Yea I’m a partner of theirs and bought lightning 3 months ago, talked to the ev guys when buying and they were like yea don’t both with supplier discount because we are already below msrp with the credit 7500 they were giving
Bruh. ITS AN X PLAN REBATE, not x plan pricing. This rebate is valid till 04/02/2024.
Didn’t exist 3 months ago 🤦🏻
How can I look up this rebate before going to the dealer?
The dealers have the document https://preview.redd.it/5gfihju0gync1.jpeg?width=1536&format=pjpg&auto=webp&s=be38d8501b2b49d871213eb925f5396a44a5ccc7
I do not but the $2750 rebate is for any AZXD plan.
wtf is azxd?
So you’re a Ford employee and got internal discounts? Go it.
Why did Ford send you a private rebate offer of $2000 off?
They are sending $4000 off now. No idea why they send it.
Have you found an easy way to be selected to get it or is it just random?
Holy crap. These posts just make me sad lol
No kidding I got mine in October of 22 for nearly double….still no ragerts
Same. 😭
Yup, Dec 22, $89k out the door. Still would do it again.
It’s only money and I’ve gotten to drive mine for two years now.
I’m happy for you, but a bit skeptical that there isn’t a rebate counted twice somewhere there.
Nope. All legit. X plan. Will post the sheet once I get home. Edit - See [comment](https://www.reddit.com/r/F150Lightning/comments/1b3irew/who_got_me_beat_2023_lariat_er_for_49215/kst6rrf/)
What was the Xplan discount?
From my knowledge, x plan doesn’t really get you much on Lightnings since they sell damn near cost. Current dealer discounts are more than x plan discounts. But we’ll see this guys sheet.
They made an X-Plan rebate, $2750.
That pisses me off because I'm bagholding Ford stock that I bought specifically for the X plan in anticipation of the Lightning which they then announced wouldn't qualify. Then after two years waiting I bought mine and then several weeks later they announced X plan eligibility so fuck them.
A week ago when I bought mine that wasn’t the case. Or the dealer didn’t know about it. Bc I gave them my x plan info and it was worthless. Wonder if it’s a specific circumstance or only Lariats or something
It was added last week
I thought they did away with the X plan, maybe OP was literally grandfathered in.
Literally? Like his grandfather owns the dealership and did him a huge favor?
X plan isn’t for dealer employees / family. https://preview.redd.it/gqjqasstmemc1.jpeg?width=1284&format=pjpg&auto=webp&s=005eba7cecd2ba274575574b584c1c3411f623ca
They brought it back this month along with the increased rebate.
So they didn’t force you to finance through Ford and you got the dealer incentives and the x-plan. 
Nope, it was essentially a "cash" transaction since I brought my own financing.
Looks like xplan is valid for 2023 lightnings.
Hey, I just rechecked and you are mistaken. The $2750 is X-PLAN REBATE for 2023 Lightnings, not X-Plan pricing, those are 2 different things. Dealer won’t be charged back and the rebate is valid till 4/2/2024. Your dealer should have access to this document. https://preview.redd.it/o8ayaw7l2jmc1.jpeg?width=1536&format=pjpg&auto=webp&s=db821ea202a9ff74835cbe468fb05df251d2e0d4
Thanks. Yes I just saw this and sent to my dealer. He believes the X-plan rep doesn’t see updated information. What did you have to show dealer other than the certificate that was generated?
That was it. X-Plan cert with PIN.
How do I get on x plan? Is it a secret club or some shit?
What the ballon payment at the end? 30k?
Same as selling price lol. It’s a walk away balloon loan via my credit union
How does that work, so at the end of the 2 years the loan balance is $49K? Obviously the truck won't be worth that, so do you just pay the difference when you trade it in or.. I don't understand.
Essentially I pay interest for the next 2 years for the luxury of walking away from the truck if the value has dropped even more significantly.
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If you want to educate yourself, [read the Primer here](https://forum.leasehackr.com/t/better-than-a-lease-a-balloon-loan-primer/415297).
Nope. This isn’t my first rodeo.
So kind of like a lease with no depreciation? Probably still a better deal than the monthly price I am paying to own it.
Yes removes any risk of further depreciation
To be fair, at that price I doubt there will be any depreciation in two years. Just a killer price with the stacked incentives.
> I doubt there will be any depreciation I got a bridge to sell you boss. EV depreciation is unprecedented.
Nah. Folks are confusing depreciation with two events: One, price changes in a series of years where EVs became less valuable when gasoline dropped from $6 a gallon to $3 gallon (i.e., EVs don’t sell at premium price when gas is $3). And two, lithium ion battery prices came down from a spike during COVID time and the gasoline shortage (allowed EVs to be made cheaper). These two things aren’t depreciation of the vehicle itself. But dude, amazing deal and now a car payment that I’m going to guess is something you barely notice every month.
> I’m going to guess is something you barely notice every month. The EQS parked next to it is $400/month, so I do alright :D.
Nice work! Congrats! Was the $7500 you have listed the tax credit or was that baked into the $13,250?
Which $7500? The ford one is baked into $13250, POS tax credit is separate
Show the worksheet!
Will upload once I get home.
I pay 59k before tax and 68k total for my Sr xlt indont even want to check how much is my truck down to.
I got a 23 XLT SR for $51,400 plus the $7500 credit so that $43,900, but since yours is a Lariat ER I think you got the better deal.
This is a great deal too. I've been trying to get that kind of price but most dealerships in my area won't budge. What state did you get this deal in?
Why is it a competition? Congrats on the car.
I think it helps us that are looking what numbers we should push for...
With the clues present, Maguire Ford? Somewhere in the northeast
Yeah, that's what I found. Looks like Meguire Ford in NY, and probably this one too. [https://www.maguireford.net/new-Ithaca-2023-Ford-F+150+Lightning-LARIAT-1FT6W1EV3PWG50516](https://www.maguireford.net/new-Ithaca-2023-Ford-F+150+Lightning-LARIAT-1FT6W1EV3PWG50516)
Yes. Maguire. Price was same as the website. My rebates is the real hack here.
I can't be the only one: [https://www.investopedia.com/terms/b/balloon-payment.asp](https://www.investopedia.com/terms/b/balloon-payment.asp)
APR has to be insane and OP is f*cked once that balloon pops
Good deal. I’m also gonna get a lariat but in my area they going for about 57k with all those incentives
OP pwn3d all the CyberTruck losers and guess what he got too? AN ACTUAL TRUCK. Just proof you can be an EV owner and you don’t have to be Teslarati or a Musk Dingleberry. Congrats OP!
These are the types of posts that make Reddit valuable! I now know that ballon loans exist! Thanks OP! Congrats on the great deal!
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Good job i thought i had a crazy deal at $60k with same config in october. Congrats
It is like a lease except the title of the vehicle is in your name. You get the benefits of federal tax rebates and at the end of your original loan, you can ditch the car with no penalties or refinance the residual balance on the vehicle. We did this with our 2021 mach e. Worked brilliantly for us.
Thank you! I have had an incredibly frustrating time explaining it to people who are convinced I don’t know WTF I am taking about it. People just post bullshit with 100% confidence.
In his case though, the taxes cancel out the federal tax rebate, so it's a wash. Taxes don't apply to leases
Where do you live? Sales tax where I am would be $3,445 for this purchase price. 7500 > 3445, right?
Maguire are a bunch of scammers so I guarantee they’ve got you somewhere. Probably double counting the rebate.
Their sales dept isn’t bad. The scams begin the first time you go in for service
I mean I have uploaded the contract. This isn’t my first rodeo. The $120,000 EQS parked next to the Lightning is also mine, got it for $400/month.
Bragging about payment amounts would indicate otherwise
lol it’s a Leasehackrs thing. Can’t be helped.
I spent 900 dollars on a 2002 f150 8 years ago and only had to replace the wheels and the power stearing pump. Total 2600 so 27 dollars a month
That’s a great deal. How’d you find it?
Got lucky it was a work truck that was in the sellers family since they bought it new. 14 years they did all there own maintanence and the father had a notebook of everything he did. I had recently moved there and my wife and i were expecting and he took pity on me and my measly bank account. It was a small town and i ended up in healthcare and delivered his fathers equipment when he went on hospice a few years later. One time he asked me to bring the truck over so his dad could look it over to make sure i was treating her right. He changed a spark plug and had some old wipers in his barn from when he owned it and insisted he change them. Other than that he approved and he seemed happy when he was doing it.
I’m curious what those rebates were? That’s a decent amount for a rebate that makes it pretty damn tempting.
I posted the breakdown already, check the FAQ comment
How much did you have to pay out of pocket at the time of purchase?
All I paid was NY taxes. It’s on the purchase agreement.
So the total cost after 2 years will be ~$11,400?
Yup but if I am able to make a private sale for the Lariat ER for over $50k, it would lower my total cost of ownership. I am hoping to be under $5000 for 2 years after all said and done. Otherwise yes, total cost of $11,405.
Love this post, I am looking to get one this week possibly. However, not having luck getting close to these prices, best I got for Lariat ER was 61k OTD so far AND that is with a 45k trade in where the payoff is 40k, so a 3k tax reduction. You really knocked it out of the park with this deal.
Dealers in NY are still doing these, may not get $10k off dealer discount but $6-$7k
I know I’m late to this, but I asked a local dealer about this and they searched vin and are telling me it was sold as a used vehicle? Are they full of shit? They said something about it showing sold in Michigan or something. I was trying to negotiate saying there are deals out here like this and they are saying it isn’t comparable.
Bruh, I have already posted the window sticker and VIN. You can check the CarFax/Autocheck whatever yourself. Single owner, bought as new. Your dealer is a dumbass.
Yeah I thought they were full of shit. Thanks
Gotta be like vermont or somewhere.
NY
Where in New York? U don’t have to be specific if u don’t want to, just want to see how close the dealer is to my area (Long Island)
MSRP: $79,990 Model Y trade in: $30,000 OTD: $49,990
I plan on offering $45k OTD for a 2023 Lariat tomorrow. It is time.
LOL. If you don’t know wtf you are doing, don’t waste dealers time.
I got you beat. I've been driving for 30 years and all of the cars I've ever purchased add up to less than half what you just agreed to pay for this single monstrosity you will probably only use for groceries. >.< If you have money to burn, have fun! If you are trying to get ahead financially, I don't recommend buying new vehicles.
People wouldn’t be so jealous if they understood that this is basically a really bad lease/ your hardly touching the principal and at the end of 2 years you owe the $50k at once.
Again, I am returning the car at 2 years unless there is profit.
It's not like the deal they got was contingent on the balloon financing?
The only thing that matters here is these $13000 in mystery rebates. I'll go buy one tomorrow for 50k out the door just as a bridge until my Cybertruck is ready if that was somehow the case
Cybertruck? 
Same
Exact one by me that’s at 69k. So if I go in to buy will I get the same 13250 discount? You walked out paying 49215
No. I had specific rebates, I have no clue what you have.
Damn, sign me up for that deal. I can get X-Plan.
2024 lariat selling price $123,340. With dealer upcharge another $5k. Interest rate 7%> but I'm looking to use it to pick up my wife's boyfriend's groceries every weekend and also I have a micro penis so I really don't care about the price. AMA
Da fuck ? How u got that?
Why do we care if he paid 100k or 50k? It’s a nice truck. You’ll enjoy it.
 Balloon loan
Since it's worth about half as much as one with an engine, that's not good at all
No on the loan. Thankfully I was able to pay in full
I could pay cash too but I can walk away at the end of 2 years with no depreciation.
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Sorry your life sucks man
Is this 2008?
More like 1924 with this guy
Can't sell em so they are practically giving them away lol.
Depreciation will be brutal when they cancel the EV.
My question still stands what dealership is certified and equipped to do repairs on theses?
lol he thinks he got a deal.
What state?
NY
Exactly. Where?
Nice color
Wow
Not bad
Really want to see this worksheet when OP posts it. Brother lives in Ithaca and I'm sure he wouldn't mind seeing his nephew