Last post on Nov 21, 2013 at 1:08 PM
You are in the Prices Paid - Buying & Leasing Experiences
What is this discussion about?
Ford Fusion, Sedan
#252 of 489 2010 Fusion Sport
Feb 23, 2010 (5:42 pm)
Hello all. I am looking to buy a 2010 Ford Fusion Sport FWD with 402A. MSRP is $30,225. Dealer is running a 20% off deal that includes all the rebates (20% off the MSRP before the 402A package discount).
I test drove this car and absolutely love it!
I have a 2007 Honda Accord EX-L V6 that is coming off of a lease. I am 15,000 miles over plus have 2 payments remaining. Dealer is giving back $2,400 to cover this and allowing me to turn it in.
Sale Price: $23,697 (includes $3,500 in rebates)
Sales Tax: $1,767 (6.5% dealer says I have to pay taxes on the price before rebates?)
Tags/Docs: $ 285
Negative Equity $2,400
I'm looking to finance this for 72 months. A+ credit. Dealer is giving me a rate in the "low 5's". Does this seem like a good deal?
I told them I wanted to take my car to Honda (which is the same chain of dealerships right down the road) to get an appraisal on any additional wear/tear items Honda tries to hit me with.
I'm a Toyota and Honda loyalist. But I figure it's time for a change. Help out the American companies.
#253 of 489 Re: 2010 Fusion Sport [web2323]
Feb 23, 2010 (5:48 pm)
how about picking a less expensive model? it would make more sense financially, although that seems like a good price on the 'Sport' model. why would you want to finance for 6 years? that's asking for trouble.
#254 of 489 Re: 2010 Fusion Sport [web2323]
Feb 23, 2010 (5:56 pm)
1. Fusion is made in Mexico
2. A+ credit but you were dumb enough to overdrive your lease by 15000 miles
3. Credit union rates for 72 month loan are 4.4 to 4.6% in the midwest
4. You do have to pay tax on the rebates - that is normal
#255 of 489 Re: 2010 Fusion Sport [pegasus17]
Feb 23, 2010 (6:12 pm)
I switched jobs 1/3rd of the way through my lease. Went from about 20 miles roundtrip a day to 80 miles roundtrip a day.
#256 of 489 Re: 2010 Fusion Sport [pegasus17]
Feb 23, 2010 (7:25 pm)
You DO NOT have to pay taxes on rebates...my breakdown is below on a 2010 Fusion SEL with 301A (moon/tune) package:
-$4,800 Trade in (2001 Accord EX with 100K miles)
-$1,000 Ford Accord trade incentive
-$2,500 Ford Rebates
$1015.38 6.25% sales tax (AFTER TRADE & REBATES)
$234 Title, registration, doc fees
$17,495 OTD total
#257 of 489 Re: 2010 Fusion Sport [web2323]
Feb 23, 2010 (7:49 pm)
Find a different dealer. Those are incentives, not rebates. A rebate is something you receive a check for after you paid the full price, an Incentive is something that the manufacturer gives off the top of the price to help sell the product. Taxes are applied after all incentives are subtracted. I just picked up a Flex and had $2500 in incentives too, took it off the op and I paid taxes on the balance. Drawback of incentives is you cant use the good Ford credit. My interest rate on the flex was 3.9% for 66 months, so there are better rates available.
For the car though. I have one too, in the Sport Blue, and it is a SWEET ride. I am torn now between which car to drive though, the Flex Ecoboost is a Sweet ride too! I guess it depends now on which is cleaner and has more gas!
#258 of 489 Re: 2010 Fusion Sport [acdii]
Feb 24, 2010 (2:03 am)
In order to get the price (20% off of MSRP) you must finance through the dealership. Sounds as if it is flexible though. At first they were telling me 5.75%-6.00% and when I told them I was going to evaluate what type of interest rate I could get elsewhere, they changed the story to "well we can get you in the low 5's"
#260 of 489 Re: 2010 Fusion Sport [jeffyscott]
Feb 24, 2010 (7:25 am)
regarding interrates, currently Captial One has rates as low as 3.75%
#261 of 489 Re: 2010 Fusion Sport [jeffyscott]
Feb 24, 2010 (8:57 am)
On Rebates you do, as Rebates usually come as a check in the mail after the purchase. Cash incentives are not rebates though, but the current list of offers are cash backs, they are treated like a rebate, taken off as a down payment, so you get taxed before they are removed. A lot depends on how the vehicle was purchased too, if an X plan, I believe the final amount is after all offers are including, and then taxed, but a normal ale, the offers come off after everything is totaled.
I think we need to look at the terminology a bit here to avoid confusion. Cash back is not a rebate, rebates are checks mailed back after the sale. Cash back can be applied right up front as part of the down payment. In all states you pay sales tax before rebates! When you go to Home Depot and buy a washer that has a rebate, you buy it, go home and mail in a copy of the receipt and the rebate form, and 6-8 weeks later you may get that rebate check. When you have a cash back offer, it is taken off right there at the register, sometimes in the form of 10% off the entire purchase, before taxes in some cases.