No Cobra until MY2007
Shelby GT350 Member
Joined: January 30, 2004
Posts: 2,409
Likes: 1
From: Union Grove,Al
Found this on BON
To: All SVT Dealers
Subject: SVT PowerLease Program
2004 SVT PowerLease Program Announcement:
The SVT PowerLease is a special RCL program designed for customers who may be delaying the purchase of an SVT vehicle in anticipation of the next-generation SVT Mustang Cobra or SVT F-150 Lightning.
SVT PowerLease allows the customer to lease a 2004 SVT Mustang Cobra or SVT F-150 Lightning today at a special lease rate, AND receive an option to purchase/lease a next-generation SVT Vehicle, with prioritized scheduling privileges.
Background:
Production of the 2004 SVT Mustang Cobra ends April 2, 2004, and production of the 2004 F-150 Lightning ends May 8, 2004
In November 2003, SVT announced that:
There will be no 2005MY SVT products available
The rollout of the next-generation SVT products will begin with the SVT F-150 Lightning in the 2006MY, followed by the SVT Mustang Cobra
Due to the tremendous response to the new F-150 and Mustang, many customers have expressed interest in the SVT versions of these new products. SVT dealers have reported that some customers are choosing to wait for the next-generation versions rather than purchase a 2004 SVT product
How to Use SVT PowerLease:
Use SVT PowerLease with customers who express interest in the next-generation SVT Mustang Cobra or SVT F-150 Lightning
Explain to customers that:
The next-generation SVT F-150 Lightning is tentatively planned to enter
production in December 2005 as a 2006MY, and the next-generation SVT
Mustang Cobra is tentatively planned for June 2006 production as a 2007MY
PowerLease allows a customer to drive a 2004 SVT on a short-term lease, while they are waiting for the next-generation SVT
Those customers who PowerLease a 2004 SVT will receive an "option" to purchase one of the first, next-generation SVT Cobra or Lightning units with priority scheduling, ensuring they receive one of the first vehicles produced
The PowerLease term will be designed to coincide with the availability of thenext-generation SVT vehicle; e.g., the Lightning term is 24 months, and the Cobra term is 30 months
Use the following payment calculations to show the attractiveness of PowerLease pricing:
Program Details:
Program dates: April 1, 2004–June 30, 2004
PowerLease terms will be:
30-month for the 2004MY SVT Mustang Cobra
24-month for the 2004MY F-150 Lightning
Lease terms can be extended or shortened by three months at no charge to coincide with delivery of the next-generation unit
Special financing rates and residuals are included in the program
PowerLease customers receive an option on a next-generation SVT vehicle. The option is transferable
PowerLease option units will be incremental to SVT dealer allocation
SVT dealers are not obligated to sell a next-generation unit to an option holder. Likewise, option holders are not obligated to purchase the next-generation unit from the original leasing dealer
Model MSRP Dealer
Discount Sale
Price Cap Cost
Reduction ACQ
Fee Cap
Cost Lease
Term Residual RCL
Rate
Prog:
#6082 RCL
Payment
Cobra
Coupe $35,370 $1,061 $34,309 $2,500 $595 $32,404 30 Mo. 58% 4.5% $495.00
Cobra
Conv. $39,750 $1,193 $38,557 $2,500 $595 $38,562 30
Mo. 58% 4.5% $554.00
F-150
Lightning $33,560 $1,007 $32,553 $2,500 $595 $30,648 24
Mo. 61% 3.35% $495.00
Summary
The SVT PowerLease gives SVT dealers an effective tool to retain current SVT Customers and provides a bridge in to the next generation SVT.
We hope you find the SVT PowerLease program a useful and effective sales tool.
Sincerely,
Tom Scarpello
SVT Marketing & Sales Manager
SVT PowerLease Program - Frequently Asked Questions (FAQ's)
The 2004 Lightning or Cobra Transaction
Who is eligible to PowerLease a 2004 SVT vehicle? Any qualified applicant is eligible to lease a 2004 model-year SVT Lightning or Cobra under the PowerLease program.
Can any other vehicle (SVT or not) be leased under the PowerLease program? Only the 2004 model-year SVT Lightning or Cobra are eligible for the PowerLease program.
Can the terms of the PowerLease be modified? The term of the lease written must be 24 months for the F-150 Lightning and 30 months for the Mustang Cobra.
Is the SVT vehicle leased under the PowerLease program eligible for any other incentives? The PowerLease program includes special terms, lease rates and residuals. Other selected incentives may be applicable. Always use VINCENT to confirm vehicle eligibility in any program.
If a customer leases a Lightning in April 2004, he won't be out of the lease until April 2006. You say the 2006MY Lightning goes into production in December. Why is there a four-month difference? The published production timing for the nextgeneration SVT products is tentative. To avoid the possibility of excessive lease extensions and customer dissatisfaction, SVT has planned the PowerLease terms conservatively.
How do I handle the sale of the next-generation SVT vehicle? The customer can use a dealer of their choosing and negotiate the purchase price and delivery of their `06 Lightning or `07 Cobra at a later date.
What price will the customer pay for their next-generation Cobra or Lightning? The customer will negotiate the purchase price with his/her dealership of choice. MSRP for the `06 Lightning and `07 Cobra will be announced at later dates.
Does the customer have to lease their `06 Lightning or `07 Cobra? The customer can choose any method of purchase or lease. However, no lease-end RCL cash will be available.
Does the customer have to return to my dealership to purchase his/her nextgeneration SVT vehicle? No. However, since a relationship has already been established, most customers are expected to return to the leasing dealer to purchase the next-generation vehicle. However, the customer may choose any SVT dealership to purchase the next-generation vehicle.
Is my dealership obligated to sell a customer their next-generation SVT vehicle? No. As the original leasing dealer under the PowerLease program you are not obligated to sell a next-generation vehicle to a customer. However, it is expected that dealerships will choose to do so, since it represents both incremental 2006 or 2007 allocation and a sale to an existing customer of the dealership.
Why would I want to handle an option for someone to whom I didn't lease the 2004 SVT vehicle? Since the "option" allocation will be incremental to your 2006 or 2007 SVT allocation, dealers should have no objections when asked to fulfill an "option" request, from an existing customer or otherwise.
What if the next-generation Lightning or Cobra is not available when the
PowerLease expires? Ford Credit can arrange to extend the PowerLease to
accommodate the delay in delivery.
What if the next-generation Lightning or Cobra arrives before the lease is set to expire? Ford Credit can arrange for early pay-off of the lease to accommodate the delivery of the next-generation SVT vehicle.
The Option
What is an Option? The option is a document that will be sent to the retail lessee of the 2004 Lightning or Cobra confirming that they have the right to a unit of allocation with priority scheduling on an early production `06 Lightning or `07 Cobra. At program termination (June 30, 2004, or later date if extended), the number of 2004 Cobra and Lightning leases under the program will represent the number of outstanding options. This will become the first production "batch" of next-generation Lightning and Cobra
vehicles and will be reserved for option holders.
Example: If 500 2004 model-year Cobra units are leased under the program,
there will be 500 2007 model-year Cobra options distributed, and the 500 option holders will have first right of refusal on the first 500 units of 2007MY Cobra production.
When and how will my customer receive his/her option? SVT will mail the options approximately 30 days after the program ends (June 30, 2004) and maintain an electronic copy.
What if my customer doesn't receive his/her option? Contact the SVT Info Center at 1-800-367-3788.
What if my customer decides to purchase an Explorer instead of the `06 Lightning or `07 Cobra or choose not to purchase or lease a new vehicle at that time? Your customer has several alternatives:
a. Exercise the option and purchase the SVT vehicle
b. Purchase the Explorer and do nothing with the option
c. Transfer the option to another individual. (SVT Info Center must assist)
d. Complete the 2004 lease and walk away
How does my customer transfer his/her option? The process for transferring an option is identical to the title transfer of a used vehicle. The option holder signs the option over to the new owner, the document is notarized, and the new owner's information is added. The document is mailed to SVT, and a new option is sent to the new owner. SVT updates the record in the database.
Can the options be sold? Yes. However, the option does not have any monetary value or carry any representation regarding pricing of the next-generation product. The option transfer is between the parties involved only. SVT simply provides the new/replacement option when properly requested.
When can my customer order his/her `06 Lightning or `07 Cobra? The order bank is expected to open 9 months prior to Job#1. SVT will contact option holders 4-6 months prior to Job#1 to ensure they place their order with an SVT dealer prior to production start.
How will SVT prioritize these orders? SVT will monitor the orders and assign priority scheduling to the orders in the general office (similar to the 2000 Cobra R process).
This will ensure the option holder orders are produced first.
How will I receive my additional allocation? SVT will set aside the allocation and assign the unit(s) with the assistance of the regional office. The number of 2004 Cobra and Lightning leases under the program will represent the number of outstanding options.
Will any of the incentives apply to the purchase of the 2006/2007 SVT vehicles?
The lease incentive (rate and residual support) offered with the program applies toward the lease of the 2004MY vehicles only. No incentive will be applied toward the purchase or lease of the next-generation vehicles, and no RCL cash will be included at the end of the lease, as on standard leases.
Who do I contact if I have additional questions?
To: All SVT Dealers
Subject: SVT PowerLease Program
2004 SVT PowerLease Program Announcement:
The SVT PowerLease is a special RCL program designed for customers who may be delaying the purchase of an SVT vehicle in anticipation of the next-generation SVT Mustang Cobra or SVT F-150 Lightning.
SVT PowerLease allows the customer to lease a 2004 SVT Mustang Cobra or SVT F-150 Lightning today at a special lease rate, AND receive an option to purchase/lease a next-generation SVT Vehicle, with prioritized scheduling privileges.
Background:
Production of the 2004 SVT Mustang Cobra ends April 2, 2004, and production of the 2004 F-150 Lightning ends May 8, 2004
In November 2003, SVT announced that:
There will be no 2005MY SVT products available
The rollout of the next-generation SVT products will begin with the SVT F-150 Lightning in the 2006MY, followed by the SVT Mustang Cobra
Due to the tremendous response to the new F-150 and Mustang, many customers have expressed interest in the SVT versions of these new products. SVT dealers have reported that some customers are choosing to wait for the next-generation versions rather than purchase a 2004 SVT product
How to Use SVT PowerLease:
Use SVT PowerLease with customers who express interest in the next-generation SVT Mustang Cobra or SVT F-150 Lightning
Explain to customers that:
The next-generation SVT F-150 Lightning is tentatively planned to enter
production in December 2005 as a 2006MY, and the next-generation SVT
Mustang Cobra is tentatively planned for June 2006 production as a 2007MY
PowerLease allows a customer to drive a 2004 SVT on a short-term lease, while they are waiting for the next-generation SVT
Those customers who PowerLease a 2004 SVT will receive an "option" to purchase one of the first, next-generation SVT Cobra or Lightning units with priority scheduling, ensuring they receive one of the first vehicles produced
The PowerLease term will be designed to coincide with the availability of thenext-generation SVT vehicle; e.g., the Lightning term is 24 months, and the Cobra term is 30 months
Use the following payment calculations to show the attractiveness of PowerLease pricing:
Program Details:
Program dates: April 1, 2004–June 30, 2004
PowerLease terms will be:
30-month for the 2004MY SVT Mustang Cobra
24-month for the 2004MY F-150 Lightning
Lease terms can be extended or shortened by three months at no charge to coincide with delivery of the next-generation unit
Special financing rates and residuals are included in the program
PowerLease customers receive an option on a next-generation SVT vehicle. The option is transferable
PowerLease option units will be incremental to SVT dealer allocation
SVT dealers are not obligated to sell a next-generation unit to an option holder. Likewise, option holders are not obligated to purchase the next-generation unit from the original leasing dealer
Model MSRP Dealer
Discount Sale
Price Cap Cost
Reduction ACQ
Fee Cap
Cost Lease
Term Residual RCL
Rate
Prog:
#6082 RCL
Payment
Cobra
Coupe $35,370 $1,061 $34,309 $2,500 $595 $32,404 30 Mo. 58% 4.5% $495.00
Cobra
Conv. $39,750 $1,193 $38,557 $2,500 $595 $38,562 30
Mo. 58% 4.5% $554.00
F-150
Lightning $33,560 $1,007 $32,553 $2,500 $595 $30,648 24
Mo. 61% 3.35% $495.00
Summary
The SVT PowerLease gives SVT dealers an effective tool to retain current SVT Customers and provides a bridge in to the next generation SVT.
We hope you find the SVT PowerLease program a useful and effective sales tool.
Sincerely,
Tom Scarpello
SVT Marketing & Sales Manager
SVT PowerLease Program - Frequently Asked Questions (FAQ's)
The 2004 Lightning or Cobra Transaction
Who is eligible to PowerLease a 2004 SVT vehicle? Any qualified applicant is eligible to lease a 2004 model-year SVT Lightning or Cobra under the PowerLease program.
Can any other vehicle (SVT or not) be leased under the PowerLease program? Only the 2004 model-year SVT Lightning or Cobra are eligible for the PowerLease program.
Can the terms of the PowerLease be modified? The term of the lease written must be 24 months for the F-150 Lightning and 30 months for the Mustang Cobra.
Is the SVT vehicle leased under the PowerLease program eligible for any other incentives? The PowerLease program includes special terms, lease rates and residuals. Other selected incentives may be applicable. Always use VINCENT to confirm vehicle eligibility in any program.
If a customer leases a Lightning in April 2004, he won't be out of the lease until April 2006. You say the 2006MY Lightning goes into production in December. Why is there a four-month difference? The published production timing for the nextgeneration SVT products is tentative. To avoid the possibility of excessive lease extensions and customer dissatisfaction, SVT has planned the PowerLease terms conservatively.
How do I handle the sale of the next-generation SVT vehicle? The customer can use a dealer of their choosing and negotiate the purchase price and delivery of their `06 Lightning or `07 Cobra at a later date.
What price will the customer pay for their next-generation Cobra or Lightning? The customer will negotiate the purchase price with his/her dealership of choice. MSRP for the `06 Lightning and `07 Cobra will be announced at later dates.
Does the customer have to lease their `06 Lightning or `07 Cobra? The customer can choose any method of purchase or lease. However, no lease-end RCL cash will be available.
Does the customer have to return to my dealership to purchase his/her nextgeneration SVT vehicle? No. However, since a relationship has already been established, most customers are expected to return to the leasing dealer to purchase the next-generation vehicle. However, the customer may choose any SVT dealership to purchase the next-generation vehicle.
Is my dealership obligated to sell a customer their next-generation SVT vehicle? No. As the original leasing dealer under the PowerLease program you are not obligated to sell a next-generation vehicle to a customer. However, it is expected that dealerships will choose to do so, since it represents both incremental 2006 or 2007 allocation and a sale to an existing customer of the dealership.
Why would I want to handle an option for someone to whom I didn't lease the 2004 SVT vehicle? Since the "option" allocation will be incremental to your 2006 or 2007 SVT allocation, dealers should have no objections when asked to fulfill an "option" request, from an existing customer or otherwise.
What if the next-generation Lightning or Cobra is not available when the
PowerLease expires? Ford Credit can arrange to extend the PowerLease to
accommodate the delay in delivery.
What if the next-generation Lightning or Cobra arrives before the lease is set to expire? Ford Credit can arrange for early pay-off of the lease to accommodate the delivery of the next-generation SVT vehicle.
The Option
What is an Option? The option is a document that will be sent to the retail lessee of the 2004 Lightning or Cobra confirming that they have the right to a unit of allocation with priority scheduling on an early production `06 Lightning or `07 Cobra. At program termination (June 30, 2004, or later date if extended), the number of 2004 Cobra and Lightning leases under the program will represent the number of outstanding options. This will become the first production "batch" of next-generation Lightning and Cobra
vehicles and will be reserved for option holders.
Example: If 500 2004 model-year Cobra units are leased under the program,
there will be 500 2007 model-year Cobra options distributed, and the 500 option holders will have first right of refusal on the first 500 units of 2007MY Cobra production.
When and how will my customer receive his/her option? SVT will mail the options approximately 30 days after the program ends (June 30, 2004) and maintain an electronic copy.
What if my customer doesn't receive his/her option? Contact the SVT Info Center at 1-800-367-3788.
What if my customer decides to purchase an Explorer instead of the `06 Lightning or `07 Cobra or choose not to purchase or lease a new vehicle at that time? Your customer has several alternatives:
a. Exercise the option and purchase the SVT vehicle
b. Purchase the Explorer and do nothing with the option
c. Transfer the option to another individual. (SVT Info Center must assist)
d. Complete the 2004 lease and walk away
How does my customer transfer his/her option? The process for transferring an option is identical to the title transfer of a used vehicle. The option holder signs the option over to the new owner, the document is notarized, and the new owner's information is added. The document is mailed to SVT, and a new option is sent to the new owner. SVT updates the record in the database.
Can the options be sold? Yes. However, the option does not have any monetary value or carry any representation regarding pricing of the next-generation product. The option transfer is between the parties involved only. SVT simply provides the new/replacement option when properly requested.
When can my customer order his/her `06 Lightning or `07 Cobra? The order bank is expected to open 9 months prior to Job#1. SVT will contact option holders 4-6 months prior to Job#1 to ensure they place their order with an SVT dealer prior to production start.
How will SVT prioritize these orders? SVT will monitor the orders and assign priority scheduling to the orders in the general office (similar to the 2000 Cobra R process).
This will ensure the option holder orders are produced first.
How will I receive my additional allocation? SVT will set aside the allocation and assign the unit(s) with the assistance of the regional office. The number of 2004 Cobra and Lightning leases under the program will represent the number of outstanding options.
Will any of the incentives apply to the purchase of the 2006/2007 SVT vehicles?
The lease incentive (rate and residual support) offered with the program applies toward the lease of the 2004MY vehicles only. No incentive will be applied toward the purchase or lease of the next-generation vehicles, and no RCL cash will be included at the end of the lease, as on standard leases.
Who do I contact if I have additional questions?
Bullitt Member
Joined: March 19, 2004
Posts: 351
Likes: 0
Personally, if this is true, I'm pretty disgusted. I've owned 10 Mustangs so far (including a couple of Shelbys). I have only owned 1 non-Ford in my entire life. I have been waiting years for a killer stang, and now they dangle it like a piece of meat?
-If true, is this how Ford rewards their faithful consumers? :bang:
All I can say is this had better not be for real, or I will take my business somewhere else for good.
-If true, is this how Ford rewards their faithful consumers? :bang:
All I can say is this had better not be for real, or I will take my business somewhere else for good.
Thread Starter
GT Member
Joined: February 2, 2004
Posts: 154
Likes: 0
Originally posted by crispy23c@Apr. 6th, 2004, 7:59 AM
Personally, if this is true, I'm pretty disgusted. I've owned 10 Mustangs so far (including a couple of Shelbys). I have only owned 1 non-Ford in my entire life. I have been waiting years for a killer stang, and now they dangle it like a piece of meat?
-If true, is this how Ford rewards their faithful consumers? :bang:
All I can say is this had better not be for real, or I will take my business somewhere else for good.
Personally, if this is true, I'm pretty disgusted. I've owned 10 Mustangs so far (including a couple of Shelbys). I have only owned 1 non-Ford in my entire life. I have been waiting years for a killer stang, and now they dangle it like a piece of meat?
-If true, is this how Ford rewards their faithful consumers? :bang:
All I can say is this had better not be for real, or I will take my business somewhere else for good.
GT Member
Joined: March 8, 2004
Posts: 134
Likes: 0
This is crummy news if you wanted an S197 Cobra, however...given the lack of a Cobra until MY 2007, this leaves MY 2006 wide open as a banner year to introduce a nice Special Edition above the GT. And that's exactly what I'm gunning for... 
Shelby GT350 Member
Joined: January 30, 2004
Posts: 2,409
Likes: 1
From: Union Grove,Al
Originally posted by PaperTarget+Apr. 6th, 2004, 7:52 AM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (PaperTarget @ Apr. 6th, 2004, 7:52 AM)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-redbaron03@Apr. 6th, 2004, 7:50 AM
Found this on BON
Found this on BON
My bad.
Bullitt Member
Joined: March 19, 2004
Posts: 351
Likes: 0
Originally posted by PaperTarget+Apr. 6th, 2004, 8:09 AM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (PaperTarget @ Apr. 6th, 2004, 8:09 AM)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-crispy23c@Apr. 6th, 2004, 7:59 AM
Personally, if this is true, I'm pretty disgusted. I've owned 10 Mustangs so far (including a couple of Shelbys). I have only owned 1 non-Ford in my entire life. I have been waiting years for a killer stang, and now they dangle it like a piece of meat?
-If true, is this how Ford rewards their faithful consumers? :bang:
All I can say is this had better not be for real, or I will take my business somewhere else for good.
Personally, if this is true, I'm pretty disgusted. I've owned 10 Mustangs so far (including a couple of Shelbys). I have only owned 1 non-Ford in my entire life. I have been waiting years for a killer stang, and now they dangle it like a piece of meat?
-If true, is this how Ford rewards their faithful consumers? :bang:
All I can say is this had better not be for real, or I will take my business somewhere else for good.
[/b][/quote]That's OK, Paper Target, I don't think you slammed me at all. I don't like these kind of games. I truly think that Ford would have backlash on this, and I had to air my distaste.
This wouldn't be the first time that a manufacturer has had some brilliant "marketer" lose market share for them, and it probably won't be the last. I won't decide until I find -out one way or another- how Ford handles this. I guess that's why they call it a "free market"...
GT Member
Joined: February 2, 2004
Posts: 103
Likes: 0
Originally posted by crispy23c@Apr. 6th, 2004, 8:59 AM
Personally, if this is true, I'm pretty disgusted. I've owned 10 Mustangs so far (including a couple of Shelbys). I have only owned 1 non-Ford in my entire life. I have been waiting years for a killer stang, and now they dangle it like a piece of meat?
Personally, if this is true, I'm pretty disgusted. I've owned 10 Mustangs so far (including a couple of Shelbys). I have only owned 1 non-Ford in my entire life. I have been waiting years for a killer stang, and now they dangle it like a piece of meat?
IMHO, They are being just about as cool as any car company could be in this situation.
Thread Starter
GT Member
Joined: February 2, 2004
Posts: 154
Likes: 0
Originally posted by crispy23c@Apr. 6th, 2004, 8:33 AM
That's OK, Paper Target, I don't think you slammed me at all. I don't like these kind of games. I truly think that Ford would have backlash on this, and I had to air my distaste.
This wouldn't be the first time that a manufacturer has had some brilliant "marketer" lose market share for them, and it probably won't be the last. I won't decide until I find -out one way or another- how Ford handles this. I guess that's why they call it a "free market"...
That's OK, Paper Target, I don't think you slammed me at all. I don't like these kind of games. I truly think that Ford would have backlash on this, and I had to air my distaste.
This wouldn't be the first time that a manufacturer has had some brilliant "marketer" lose market share for them, and it probably won't be the last. I won't decide until I find -out one way or another- how Ford handles this. I guess that's why they call it a "free market"...
Bullitt Member
Joined: March 19, 2004
Posts: 351
Likes: 0
Well, I'm going to see some old associates who own a SVT dealership in the Boston area. I have not been there in a while, but if my connection is still good, I might get some clarification on what is really planned. I just didn't like the body of the e-mail stating "due to overwhelming inquiries into the new SVT mustang" that it would not be released until '07. Doesn't sound like a developement problem to me. Realistically, who even knows if this info is for real--that's why I plan to do a fly-by at the SVT dealer. My bet is that I can squeeze a little more info about what's what with this. I'll post here if I get more info.
