Welp… this escalated quickly…
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If you could stroke a check in full, you could also ladder out some CDs for the full amount and I would guess you would get close to 5.5%.
Then if you end up paying 6.5, it's closer to a 1% net interest rate.
This could all be bad math and I could be crackpot.
Then if you end up paying 6.5, it's closer to a 1% net interest rate.
This could all be bad math and I could be crackpot.
If you did the math and determine it is financially advantageous for you to get a loan instead of paying with cash, then all is well. If you get a loan because that's your only option it is a financial mistake.
By the way, an S&P 500 index fund has gone up 34% in the last year, and 31% in the last 3 years. 54% since 1978. The only risk is freaking out and selling during a poor return period. Long term it is very safe and always ends up going up. Put another way, if the S&P dropped big time and didn't recover the entire world and everyone in it would be screwed, whether they were invested in the market, had a car loan, paid cash for their new truck or not! Good thread.
By the way, an S&P 500 index fund has gone up 34% in the last year, and 31% in the last 3 years. 54% since 1978. The only risk is freaking out and selling during a poor return period. Long term it is very safe and always ends up going up. Put another way, if the S&P dropped big time and didn't recover the entire world and everyone in it would be screwed, whether they were invested in the market, had a car loan, paid cash for their new truck or not! Good thread.
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CPI is the real measure. Shit is way up. Groceries, housing, utilities, etc.
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Update: Took delivery of my Red 4 door Heritage tonight. I already love this machine.
Anyway, I had them run my credit to see what I could get. My credit scores came back at almost 900 and even they were impressed saying they rarely see that (maybe they were just trying to butter me up). Anyway the rates they offered were still garbage so I just wrote a check and called it a day.
Anyway, I had them run my credit to see what I could get. My credit scores came back at almost 900 and even they were impressed saying they rarely see that (maybe they were just trying to butter me up). Anyway the rates they offered were still garbage so I just wrote a check and called it a day.
3% 6/22, I owe right at $20k now. I think when we get it to the last $5-10k we will cut a check and pay it off. Wife gonna want a redesigned 4Runner or FJ when they come out.
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Yes!!! No one here really understands the effects of inflation. I had the experience of living in Argentina in 1982. Inflation was more than 10% per month… 120% annual. The effects were VERY obvious. I learned a lot from that. No one paid cash, everything was financed, which probably made things worse.
Many are quoting interest rates on deposits and loan rates oblivious to the effect of the cumulative inflation rate over the same period of time.
Let’s all hope the inflation rate continues going DOWN!
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Consumer debt is at an all time high.
US debt is at an all time high.
New budget proposal is largest deficit ever.
Stock market is rallying...
At this point money isn't real.
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I am sticking to the original topic.
I was just approved for 5.94% / 72 months with Navy Federal. They show my Vantagescore on their credit dashboard as 778. My FICO auto middle score is close at 767.
PenFed which seems like another popular option was going to go 6.39%
I stopped at Navy Federal.
I hope that helps for someone's comparison.
I was just approved for 5.94% / 72 months with Navy Federal. They show my Vantagescore on their credit dashboard as 778. My FICO auto middle score is close at 767.
PenFed which seems like another popular option was going to go 6.39%
I stopped at Navy Federal.
I hope that helps for someone's comparison.
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My CU gave me 0.9% over 60 months. I was blessed. Probably will never see that in my lifetime again.
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This heavily depends on the state and acquisition costs and taxes. Leasing is not even close to a viable option as a gateway to purchase in Maryland.
I’m taking delivery of a 2 door heritage. The dealer said Ford Credit’s rate is aroun 9% currently and the credit union they work with is just a couple point lower. I’ll be paying cash
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Just closed a deal at 6.49% 60 months. New Bronco Raptor.
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