Test drove a few 07 Screws at the dealer today. I don't want new, so the salesman suggested CPO. Financing through Ford is 3.9% for 60 or 72 months. He found a 2004 FX4 with 35k, said price was firm at $22980, because it was a CPO unit. Is it true that the CPO price is firm? I don't want to pay almost 23K for a 3 year old truck even with low miles.
Here's the CPO info
Customer Benefits

* Special Low APR Financing may be available. See your dealer.
* 6 year/75,000 mile Certified Pre-Owned Lincoln Premier Limited Warranty, comprehensive coverage excluding wear items.
* 6 year/75,000 mile Ford Quality Checked and Certified Pre-Owned Mercury Limited Warranty (29 powertrain component coverage).
* Limited Warranty is honored at any Ford, Lincoln or Mercury dealer in the 50 states and Canada.
* 115-point (Ford and Mercury) and 141-point ( Lincoln) vehicle inspection.
* Low $100 deductible.
* 24-Hour Roadside Assistance for full duration of the Limited Warranty.
* Service loaner coverage (overnight repairs only).
* $500 trip interruption protection and Destination Assistance.
* Oil & filter change completed prior to delivery along with new windshield wiper blades and a full fuel tank.
* Complimentary first oil and filter change ( Lincoln only).

Vehicle Eligibility

* Current model year, plus previous four model years.
* Vehicles must have no more than 50,000 miles and no history of the following:
o Frame, fire, flood or hail damage, whether repaired or not.
o Branded title.
o Reacquired vehicle.
o Alterations that would void a new car warranty.
o Vehicles originally used as a taxi, police or other non-retail type vehicles.
o Fleet, livery and taxicab usage.

 

Personally, I would reconsider the new vehicle. The 0% is hard to pass up, plus going from a used vehicle w/ 35k miles to a Brand new truck.

The 3.9% on $23,000 for 60 months is going to cost you $25,356.
72 months will be $25,837.

A new $30,000 truck will cost you $30,000 w/ 60 month financing. No interest rocks. I always tend to look at the overall cost.

 

I agree... if your credit score allows it go with new. Zero % financing is like free money. It takes a big sting out of depreciation.

 

23K for an 04? No way!

Go new......your much better off in the long run. Go for the zero percent financing!

Good luck!

 

is going to be offered?

I'm in a similar dilemma... might be losing my company vehicle, a 2005 XLT Scab 4x4 w/47K miles. So trying to decide whether to buy it, or buy a new one. (Also kinda like the Explorer Ironman, but that's a different story). The 0% sure makes it tempting to buy a new one.

 

I test drove a Certified Pre-Owned F250 that was on the lot at my local dealership, the electronic temperature control was dead, it drove like crap, and it had problems. You can still get a bad vehicle even with the CPO. I decided to go new after that experience. The sales person called me back several days later and left a message saying that they had fixed all the problems I found if I still wanted the truck. No thanks, I never called them back.

 

CPO prices are not firm. I sold CPO Ford Lincoln and Mercury for over a year and a half. Trust me, they're not firm prices.

 

That's more than I paid for my loaded 04 XLT holdover new with 23 miles on it.

 

Go with a new truck thats what I did in 05 I looked at an 04 xlt 4x4 with a 4.6 in it with 37k on it and looked at the remaining 05's and went new.

 

This is my theory: If you can buy cash or almost cash, then go used (if thats what you want). If you have to finance it, then buy new. Obviously, dont buy more vehicle than you can realistically afford.

Also when buying any vehicle, do your research. Use edmunds.com, kbb.com, etc. Dont let your emotions get the best of you (hard to do).

Dont do your research at the dealership. In Louisiana, it is not legal to sell vehicles on sunday, so I do my window shopping then. Also fordvehicles.com will allow you to configure the truck you want and show you all the stock on the dealer lots. You can pick the color, options, etc. That is how I found my 4x4 XLT 6.5 box. Only one in SE La. Then I emailed and called, made a deal over the phone and picked it up with just a tiny bit of hassle.