I have a question that I need some help with. I bought a 2004 F150 FX4 SuperCrew on July 10, 2004 and approximately 1 week later, I received a direct mailing (dated July 7, 2004) from Ford offering me a cash incentive of 2x the current payment on my 2003 Ford E250 Conversion Van (~$1000).

This incentive was valid from July 1 - September 30, 2004 and was above and beyond all other publicly available offers as long as I purchased a 2004 vehicle and financed through FMCC. I used a local credit union provided by my dealer (where I have previously financed 3 other vehicles).

I called the 1-800 number for Ford on the letter the day I got it and they said go see the dealer and request a waiver. They said I "didn't qualify because I didn't originally use FMCC," but had I known about the extra thousand bones, I WOULD have financed through FMCC (rate was .4% higher than my CU and I plan on refinancing it anyway).

I called my dealer and the salesman and finance guys said they would not seek a waiver for me and that Ford would not let me immediately refinance the vehicle through them to get the $$$. "Other people have tried this before and there is a minimum refinance time and blah...blah...blah..."

Basically, if I had waited another week, I would have had another $1K in cash for accessories/mods. The dealership wasn't any help and the 1-800 people weren't much better. Is there any other way for me to get the $$$ or am I just SOL???

$1K is a lot of money and I sure would like to figure out a way to get some or all of it...

Thanks,
wattman1

 

I think your SOL. I bought my truck a few weeks back and the incentives are so much better now....luck of the draw.

I did get the 1k you are talking about and I have to keep Ford financing for 90 days before I can refi the loan.

 

It sucks but, I think you fall into the SOL category. Sorry bud.

 

Thanks vader, that's what I was afraid of.

I was arguing with them that this situation is a little different than the rebate changing at the end of the month, but I guess that is how Ford sees it. Hell, I already bought the truck - they know they don't have to entice me, they can use that money for someone else.

Any dealers/salesman/finance guys have an idea if I might still have a chance???

 

Ford offers that finance incentive to A) make it more likely/easier for you to buy the vehicle, and B). they hope to re-coup the $1k by getting your finance business. But evenso, I suspect that finance part ends up pretty much being a wash for them. They subsidize the $1k incentive by at least getting some money from interest. At the end of the day, the only reason Ford exists is to sell cars. Since you have bought, there is not much reason for them to give you the rebate, even if they get your finance business. Unfortunately I think you have already come to that conclusion as well.

Just to clarify regarding the "minimum refinance time..." you can pay off the FMCC loan at any time. There are no early payoff penalties. That is another reason why Ford would not think it such a great thing to give you $1k and get your finance business. People do this quite a bit... at least that's what I hear anyway.

Jim

 

I am a finance manager for a Saturn facility. I understand your concern about getting your $1k. Had you purchased a Saturn, we have a 30-Day, no questions asked policy where the buyer can swap vehicles on the lot. If they do that, they will receive the incentives at the time of swap.

Speaking as a Finance Manager, it is a pain in the A$$. I would not have that option if it was up to me. I understand your side and unfortunately understand theirs. There is no way to make that vehicle new again and do all the paperwork over. Those incentives must be applied for when the vehicle is NEW and the dealer still has possession of the MSO (that is what the title is prior to the sale of the vehicle for the first time) Once that MSO is processed, you cannot go back and redo everything. Ford would not permit it. Either would any other mfg.

If Saturn brings back a Money-Back-Guarantee vehicle, It can still qualify for incentives and is still new. Problem for you would have been, that inorder to do this, you would have to choose a different vehicle all together and it has to be in inventory.

Pro's and Con's. As a consumer like ourselves, I would want some window of opportunity, however, the mfg says absoluely not. Like posted earlier, SOL. Sorry, Man.

 

Don't let it bother you too much, i "bought" my F-150 in January (had to my 01 F-150 lease was up) will never "lease again", anyway, if i bought the identical truck today it would cost me approx. $4000.00 + less. Sort of falls into the catagory of SOL, but hey, what are you gonna do?
One positive aspect is when i think about it, it does increase my beer consumption twofold.

 

jmimac351,

I was told by the Finance guy at Ford that if I took the 1k rebate and refinance within 90 days they(ford) want the 1k back. Is that not the case? I can check my paperwork but figured you might know for sure.

 

Yes, I'd say you are SOL. The sad thing is the dealer must have known (or at least should have known) of the FMCC bonus rebate. Ford Dealers have a system called "Merlin" (I think that is the name) that gives them a print out of all available rebates and incentives on a vehicle. I've had dealers quote me different prices for essentially the same truck when I was shopping last year, come to find out some were not disclosing all rebates to me. They would still end up collecting the rebate money. When you sign the release form stating: “all rebates to dealer” it is their money and if they don’t give you credit on your paperwork it’s extra cash in the dealer’s pocket. I had one dealer yelling at me because I was shopping around even though I get X – Plan. “X – Plan is all the same what you are shopping around for” he said, and that is when I said, “OK, but the more dealers I talk to the better the prices are getting”.

The Dealer you bought from did not have your best interest in mind; I’d say they are getting a kick-back from the Credit Union.

 

That "may" be the case. My salesguy said to just keep it three months then do what I wanted. He did not mention that specific reason for why he said "3 months". The finance guy said I could pay it off "whenever I wanted". I plan to pay the vehicle off well before the final payment is due. I'll let it go for a few months then maybe pay off at the 1st of the year. Trying to pay it off now may only create an unecessary mess; and I'd only save a few dollars in interest. It's only ~$10/mo more in interest.

I asked both about any pre-payment penalties and both said there were none. So, technically I would have a gripe if I tried to do it and they balked. Not worth it though.

Ford knows they aren't going to get their $1k out of the deal but they are going to get something.

Jim

 

there's an old saying that goes " if you don't have it in your hand then you don't have it " i would say oh well better luck next time and just enjoy your truck...

 

Thanks for all the comments; I kind of figured I was SOL, but I also thought that if anyone knew what my options were, I would find that person here.

MSRP $39,330
DLR Discounts - 6,500
Ford Rebates -2,500
Ford Bonus Cash -1,000
Cash Price 29,330 + TTL + some neg equity from my 2003 Lariat SCrew.

Not trying to be greedy, but a chance at another $1K in cash incentives was worth looking into. I really do love the truck and I think I got a great deal anyway.

Thanks for the info. Now, a few while I ponder which mod to do next!

 

I just got my new 2004 Scab Flairside last Saturday. I got $1500 back to finance with FMCC. I was told nothing about having to wait to refinance. Salesman said I could do it as soon as my account was set up with FMCC. I already have a refinance set up at 3.75% instead of 7.5%. Hope I don't have to wait..

 

Them's the breaks, caveat emptor.

 

Same got up went to dealer bought truck. Two weeks later middle of may some incentives hit the paper, You buy when your ready or you wait and see it helps when you wait on new vehicle years to see some rebates .But i'm very happy still .