You're my idol. If I ever get back to Maui, I'll smile as I drive the Hana hwy knowing there is someone who had the courage to live the way I wanted to live, but was not brave enough.
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- First Name
- Russ
- Joined
- Jun 29, 2020
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- Anchorage, Alaska
- Vehicle(s)
- 11 F150,02 Excursion,06 Chrysler 300C,21 Bronco
- Your Bronco Model
- Outer Banks
The long term notes don't worry me too much, I always give myself an out. Work is very stable also. I paid my 2011 f150 off a year early from its 6 year loan. Paid my Chrysler off a year early from its 4 year loan. Double payments and paying extra sure does help. The Bronco will be my first brand new vehicle and I'm willing to take a little risk with it. I have multiple other vehicles, I don't sell i just add to the fleet. I only drive about 10k a year split between 4 vehicles and all have been very reliable. I have repair money set aside if needed. With a super low interest rate, low down payment im willing to spend the most i ever have on a vehicle on the new Bronco, happily.
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- Kirkland, WA
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- FJ Cruiser
- Your Bronco Model
- First Edition
Our 20 year boat loan is at 1.9%..... We chose a style of boat that has almost always APPRECIATED.. we could get more money for it today than when we had it built for in 2014
Hope you weren’t expecting the Bronco to pull it around.
Seems plenty were.
Not to get too personal, but what do you have? Offshore?
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- Your Bronco Model
- First Edition
Aluminum pilot house Armstrong Marine... Commercial looking but set up for family cruising. www.ArmstrongMarine.com
Nice. Used a 32ft pilot house “owner built” aluminum boat in Kodiak quite a bit.
- Joined
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- Your Bronco Model
- First Edition
These guys?
https://www.alaskancatamarans.com/ ?
I have spoken to them, I think they started buying Armstrongs and then went to building their own..
Honestly, if the interest rate is low enough, I've done 7 year loans to keep the monthly even lower.
I never keep my car that long, anyway. And given net present value, I always prefer minimizing monthly as much as possible.
I never keep my car that long, anyway. And given net present value, I always prefer minimizing monthly as much as possible.
As many people have mentioned, length alone is not enough to judge a loan. Interest rate is a huge part of the decision, and we find ourselves in a particularly low interest rate environment right now. IMO, 3% is the dividing line. Below 3%, it becomes very likely that you can do better with your cash over the same period of time. Hell a 100 year loan can be defensible under 3% interest.
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- Pre-ordered first of 500 2015 Golf R
- Your Bronco Model
- Badlands
I own my cars before the loan date usually. Under 3% is phenomenal, 0%? you cannot beat that if it happens. It's funny seeing all the Wall Street attitudes when the majority of us are most likely just working people. Pay an extra 50 bucks a month might get you where I have been for the last 3 or 4 vehicles I have owned. Just sayin'.
If I'll be paying interest on the loan I limit myself to 48 months and usually shoot for a 36 month loan if I can comfortably swing it. But if I'm paying 0% interest then pump that sucker up to 84 months for all I care. I'll still personally end up paying it off years before the end of the loan and in the meantime I'll only be tied down to small monthly payments that always provide more flexibility.
Not that company design, but possibly some of the same people. It was built in around ‘99.
Real facts. For the guys getting a Badlands with the 2.7 and Sasquatch, maybe a couple extra goodies like a roof rack, etc, this baby will be approaching $55K fast.
Spread over 60 months with no down payment and you're looking at something like $800+ per month. Not terrible, but bad.
If anyone were to stretch to buy this thing, I won't blame or judge you; think we're all going to love it, have a ton of fun, and want to keep it, but prospects of 72 months or more can be dangerous unless you have some form of gap insurance.
Say that, but I'm also not a big believer in down payments. Cash in hand for emergencies like the pandemic can be smart money.
Do we need the Bronco at the high price points? No, but damn sure want it. Smart money can kiss my a$$.
Spread over 60 months with no down payment and you're looking at something like $800+ per month. Not terrible, but bad.
If anyone were to stretch to buy this thing, I won't blame or judge you; think we're all going to love it, have a ton of fun, and want to keep it, but prospects of 72 months or more can be dangerous unless you have some form of gap insurance.
Say that, but I'm also not a big believer in down payments. Cash in hand for emergencies like the pandemic can be smart money.
Do we need the Bronco at the high price points? No, but damn sure want it. Smart money can kiss my a$$.
Ditto! Targetting $45k-$50k total price, down payment of $20-$25k, finance the rest, factor in insurance and my payment for car and insurance is around the mid 400s.
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