Pulling trigger soon, anybody use Ford's $1000 trade-in assistance?
 

Per Ford's website:

I tried to find more details about the program online, but was unsuccessful. When I inquired about it at the dealer, they didn't sound like they understood all the rules either. What I'm interested in learning is likely in the "fine print."

I currently don't have a trade-in, but what would stop me from buying a 1995-or-newer beater on Craigslist, to qualify for the $1000 trade-in bonus? Yes, you could call this "gaming the system" but I don't know why I'm being discriminated against for not having a trade-in either. :)

Does the bonus stack (as in, do I get Fair Market Value on the traded vehicle PLUS the $1000? Example: $500 beater + $1000 trade-in assistance bonus cash = $1500)?

Does Ford's fine print protect them from paying out the full $1000 if the beater is only worth $500? (i.e., is the bonus cash capped at whatever the Fair Market Value is, so a beater worth $500 would only earn $500 trade-in assistance, making it a wash not worth the trouble of finding, buying, and registering a beater)?

Can Ford reject the trade-in assistance if the trade-in doesn't meet its definition of "1995 or newer Ford-Lincoln-Mercury or competitive vehicle"? Does that mean they'll accept a Chevy but not a Hyundai? Does the competitive vehicle have to be a truck if I'm looking at purchasing an F-150?

IIRC, during "Cash for Clunkers" you needed to prove ownership for 6 months to prevent the situation you describe. I would expect something similar to be the case with this program as well.

Most, if not all, bonus cash programs which require a trade in, or that you own a certain model, have in fine print that you must have had it for a specific time. That time varies with the programs, but could be anywhere from 6 months to one year.

They also usually require you to show registration/insurance to prove how long you have owned it.

They do that so that you can not buy a junker the day before trading it in for the extra cash.

I just bought my truck and they did include the $1000 trade in bonus, Initially I wasn't happy with the price they were giving me for my trade so I threatened to walk out and the sales manager came into the office and offered me that extra $1000 trade in bonus. I asked them about it and they said it's at the dealer's discretion to add it in or not..

The dealers I spoke with didn't even let me know about it. Its through ford, like a rebate, so the dealer will get the money back. Its completely up to the dealer how much they will give for the trade. I have not been able to find fine print for this incentive either...

Trade In Assistance Bonus Cash
$1000 Cash Incentive. Trade In Assistance to customers that currently own or lease a 1995 or newer Ford/LM/Competitive vehicle who trade in or have a lease expiring. Customer must have owned their current vehicle for a minimum of 30 days prior to sale date of new VIN. Customers who have previously terminated their lease up to 30 days prior to the program start date OR have a lease termination up to 90 days after program end date are eligible.
Expires: 01/03/2012

This appears to be the program terms (fine print) that I was looking for.

Does anyone know (or care to guess) if Ford will likely continue this offer beyond 1/03/12?

I have no idea how long their program will last. I have been thinking about replacing my 2003 F150.

I went to the Ford website and submitted for some brochures to be sent to me. In the back of their package was an additional offer for $750.00 which they said could be used with all other incentives and programs.

That savings also had an expiration date of 01/03/2012.

Yeah I've requested several brochures, but no $750 private offers were ever included in mine.

Does Ford typically drop all the previous model year incentives on Jan 3? Or do they typically extend (or enhance) those incentives to clear inventory as next year's model is arriving in showrooms?

there will be rebates as long as 2010's are available. I looked at a 2010 in late march this year when i was in the market for a truck. The price between equally optioned trucks was almost negligible ($1500) so i went with a 2011 to get the new upgrades. I don't think it will be much different this year.

How could the difference between a 2010 and 2011 truck be only $1500 last March? Did all the 2010 rebates expire? (That's a crime, no wonder they had 2010's leftover in March).

Thats how it works.. After a certain date and the new model year are on the lots, Ford leaves it up to the dealers to move them last year's model without offering any substantial rebates.. Someone would be crazy to buy a leftover in March or later of the next model year, Unless of course the dealer gave a ridiculous deal.. But doubtful.

So is that "certain date" usually Jan 3 (when the current incentives expire)? Or later?

I'm not sure how the trade-in bonus works, but if you can find a new 2011 that you like, Ford is offering substantial discounts. In October, I got a total of $8.5K off MSRP on a $40K Lariat Super Crew 5.0. As I recall, $3,500 (or $4,500?) was from Ford and the rest from the dealer. I'll add that my truck had NO dealer add-ons, so the discounts I mentioned above are "real". And the XLTs and FX models had even more cash back from Ford.

Some of the Ford discount was contingent on financing through Ford Credit, which I did at 3.4% (they had been asking 5.5% to start). Ford Credit will also finance at 0%, but you don't get as much cash back -- I think it was $2,500 less. But I'll pay off my note in 2 years, so the decision was a no-brainer for me.

Looking back, I think I could have negotiated an even better price. Aside form the lower interest rate, all I really negotiated was $1,000 more for my trade-in than they originally offered. Probably could have got another $500-$1,000 off the total deal.:o But, hey, I was tired of shopping and liked the low-pressure dealership.

when I bought my 2010 they offered it right away