JM Posted December 13, 2006 Share Posted December 13, 2006 Thank you for allowing us to assist you with your automotive Internet research. The 50% off incentive program is a residual based program through Ford Motor Credit called the Red Carpet Option. Ford has combined the best parts of a purchase and a lease to provide an exciting new way for you to purchase a new car, fit affordable payments into your budget, and make it easy to trade in. The best part about our incredible Financing option is you will be guaranteed no negative equity when you come back to trade in 2 to 3 years. Grand Praire Ford My sister is a little tight on money but really needs a "new" vehicle. Has anyone heard of this promotion or used it before? Would it be better to just use the X-plan and buy it, or can you use a employee special when leasing? (*nobody in my family is an employee) Quote Link to comment Share on other sites More sharing options...
Surgen Posted December 13, 2006 Share Posted December 13, 2006 Grand Praire Ford My sister is a little tight on money but really needs a "new" vehicle. Has anyone heard of this promotion or used it before? Would it be better to just use the X-plan and buy it, or can you use a employee special when leasing? (*nobody in my family is an employee) X-Plan is compatible with all incentives. I believe the Red Carpet Option is a Lease like financing contract - where leasing creates liability problems for the leasor. Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted December 13, 2006 Share Posted December 13, 2006 FYI: the balloon payment loan, which this appears to be, while structurally different from a lease, functions pretty much the same way on a day-in day-out basis. You have a mileage cap, a penalty for excess mileage, and restrictions on wear and tear. Generally, if the terms of the loan contract are adhered to, including the stipulations concerning vehicle condition and mileage, the vehicle's value is equal to (more or less) the balloon payment at the end of the loan period (in fact, I believe they use ALG's residual factors to determine the amount of the balloon payment). They may guarantee no negative equity, but there likely will not be positive equity either. Possibly, the interest rates may be lower. You would have to compare the monthly payments. Quote Link to comment Share on other sites More sharing options...
JM Posted December 13, 2006 Author Share Posted December 13, 2006 (edited) Thanks for the info. We're definitely a Ford family, within the past year we bought a new F150 & Focus, & have a Mustang, and Explorer. We've never used the X-plan before, but I think she's looking at a Fusion, does anyone have an idea of how much the price will be on one after using it? I would prefer she get the Edge (she has 3 young boys) but it is probably out of her budget. Edited December 13, 2006 by JM Quote Link to comment Share on other sites More sharing options...
OregonX14 Posted December 13, 2006 Share Posted December 13, 2006 The X-plan price is essentially invoice, its going to vary from model to model, depending on how much equipment you want. X-plan will work with RCO or RCL, I'm in a RCL (Red Carpet Lease) and i love it (I work for a Ford Dealer) Quote Link to comment Share on other sites More sharing options...
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