![]() Those of us who have had the Mach-E for a few months now can verify this on the Ford Credit website - the interest portion of the payment should be getting a little bit smaller and the principal portion getting slightly bigger with later payments (don’t look at first month, it is weird because of the paperwork delay and slightly higher interest that accumulates as a result). The biggest downside is probably the fact that the cash isn't available as part of the X-Plan Friends and Neighbors program. While that sounds straightforward, there's a catch. Add-ons aren't dealer fees so X-plan doesn't cover those. Partner Plus involves bonus cash on top of Ford's regular X-Plan discount of 0.4 under a dealer's invoice price plus a 275 program fee for all members of the X-Plan Partner Recognition Program. The bad news: Buying out of state won’t help you save. X-Plan Sale Invoice - 0.4 + 250 + Taxes- rebates (no dealer add-on fees) Is my understanding correct X-plan caps the doc fee at 100. Hawaii (4.44) Wyoming (5.33) Wisconsin (5.43) Maine (5.50) From a tax perspective, these are some of the cheapest states to buy a car. You still pay your exact same monthly payment, you just reach the finish line sooner. Normal Sale MSRP + 700 doc + 500 Fabric Protection + Taxes - rebates - dealer discount. It’s like if someone pays off half of a mortgage or car loan with the first payment - the loan doesn’t just readjust going forward to divide up what you owe by all remaining payments. So if the full loan isn’t paid off, interest continues to build from the amount of remaining principal, but less principal still means less interest. I think part of the issue is a lot of us aren't thinking of the balloon payment as part of the normal loan repayment schedule, but it is. OP is sort of right though, his interest is reduced if he pays down his loan substantially now, just like a home mortgage.
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