Anyone financing? What rates are you getting?

[DriveAllNight]

Like the OP, I always felt financing was the best option, as long as you can do better than the loan interest rate, which has been the case for past years. (Inflation has nothing to do with this, I didn't understand that comment. Car loans are fixed rates.)

Anyway you can't put money to work if you give it away prematurely.

But yes, as the loan rates go up it can be harder to beat the spread, having shares of NVIDIA sure would make the difference, cover the mods too

Sponsored

 

[Scott R Nelson]

Is anyone getting much better than 6%? I'm thinking about just writing a check for this one.

My Fidelity account managed over 11% in 2023. But I have a money manager making the decisions, I don't have that skill.

And I paid cash for my Bronco. I don't like owing anybody anything. It gives me peace of mind.

Gratuitous photo of mine out in Middle-of-Nowhere Idaho:

 

[flhxman2014]

I wish I could get this but i'm not a vet nor have any friends/family who are afaik.

We went with Navy Fed and got 4.25% for 60mo, back in June 23. Although we had proof ready for my spouses deceased father, we were never asked to provide it. We just told them what branch he served when asked and that was it. You may get the same treatment.

 

[Ultraswip]

Like the OP, I always felt financing was the best option, as long as you can do better than the loan interest rate, which has been the case for past years. (Inflation has nothing to do with this, I didn't understand that comment. Car loans are fixed rates.)

Anyway you can't put money to work if you give it away prematurely.

But yes, as the loan rates go up it can be harder to beat the spread, having shares of NVIDIA sure would make the difference, cover the mods too

Exactly. By paying cash you're instantly getting the return that would have been your interest rate in the form of cost savings. You lose out on the opportunity cost by no longer having that money invested. But in this case it would be hard to get a return > 6-10% without being super aggressive and risking a loss.

 

[LeftyRodriguez]

5.94 at BofA for 60mos.

 

[Ryan_SC]

5.69% for 84 months with a local credit union in Dec of 2023. I plan to pay it off within 2 years. The dealership offered 8.5%.

 

[Russ1Bronco]

If the inflation is 10% to 20%, your investments are not beating a 6% or 7% rate.

...The current inflation rate which came out this morning is a tick over 3%...

 

[SkyKing]

The days of 2% loans are long gone unless it is some sort of manufacturer incentive. That was a once in a lifetime event.

Yeah I got 1.91% through Ford in 2021 on my wildtrak. Then bought a Bronco sport Badlands for my kid in mid 2023 and it was up to 5.7%. Definitely paying that one off first.

 

[SNOWOLF]

I got 6.25%....not that great, but if things get better and rates start to drop, my banks will offer cut your rate in half......that would be nice!

 

[Bugkillah]

Got the cash? Write the check, enjoy!

 

[cbrenthus]

I wish I could get this but i'm not a vet nor have any friends/family who are afaik.

many credit unions will allow you to join if you donate to an affiliated program. I don’t know if Navy Federal has something like that, but you can search the net and see. I did a quick search and it looks like they don’t, but I don’t have a lot of time to spend on it. but I have joined a couple of credit unions over the years that were specific to industries that I’m not even close to a part of, and I just had to make a small donation to their associated charity, and then I was affiliated

 

[Ricktdy]

Navy Federal

Navy Fed is what I have been looking at. I have been hoping that Ford does something better since they now are now accepting the X plan on the Bronco.

 

[Bee Bop]

I miss the good ole days, I got 0% for 60 when I bought my 16 Mustang. Heck even the 4% I got from Ford for my Bronco doesn't seem bad now. of course I paid it off after two payments.

 

[Nc211]

I wish I could get this but i'm not a vet nor have any friends/family who are afaik.

You don't have to be a member, you can become one with a $25 fee to one of their "affiliate" organizations. That's the work-around for credit unions. I'm not in the military either, yet bank with Pentagon Federal Credit Union. Check them out too!

You won't get under the Fed rate for a car loan. One way or the other, you'll pay at least that. Might be added fees to make up for the delta, or a slightly higher price from the dealer if buying new and financing with the manufacture. Lender don't last without yield..

 

[kodiakisland]

Anything under 3.5% I'll finance and most likely pay off early. I figure even in a bad year I'm making 3.5% and my cash is better off working for me than Ford.

Now, the best arrangement is if they will allow you to make a large down payment with a rewards credit card without an additional fee that you immediately pay off before the end of the cycle.

Sponsored