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Did you finance or pay cash?

Did you finance or pay cash

  • Finance

    Votes: 454 65.0%
  • Cash

    Votes: 244 35.0%

  • Total voters
    698

DrewBronc21

Badlands
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Your Bronco Model
Badlands
Financing $50k for 6 years @ 2% you will pay about $3k in interest. Keeping your $50k and investing it @ a modest 6% for 6 years you will make about $20k in interest.
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khudgi

Wildtrak
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Wildtrak
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I assume you mean 1.5%. What is DEFI?
15% wouldn't be a surprise depending on where its at, mines at 8.3% . Its decentralized finance in the crypto world.
 

TXAG96

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Badlands
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Tyler, Texas
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'20 Bullitt, '01 Boxster, '87 TBird Turbo Coupe
Your Bronco Model
Badlands
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I financed for less than 1 month, paid it off before the first payment was due.
My Credit score is 825 and the best loan offered by Ford was 6%. lol.
 

Roger123

Badlands
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VA Beach, VA
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Badlands
Financing $50k for 6 years @ 2% you will pay about $3k in interest. Keeping your $50k and investing it @ a modest 6% for 6 years you will make about $20k in interest.
Did you live through '08, your 50K turned into 25K real quickly. It came back but it wasn't overnight. If you needed that 50K in '09 you were screwed as it was only 25K. You have to factor in risk.
 

Paul Gagnon

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Badlands
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Sherwood Park, Alberta, eh?
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'79 Mustang, '92 Explorer, '10 F-350
Your Bronco Model
Badlands
I financed at 2.99% which is the lowest I could find. Interest rates are very different here in Canada compared to the US.
 

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nd2002

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Badlands
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you also need to factor in that your vehicle is not going to stay at $50,000 at the end of 48 months

Wouldn’t you rather take that $2,000 than simply lose money with depreciation? It’s basically free money and you continue building good history with lenders
 

GetMeOutOfHere

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Black Diamond
Finance of course. I'll put down as little as possible, likely 10%. Interest rates are low, inflation is elevated, and I don't want my money in a depreciating asset as much as I can help it.

I'll be selling my current ride and putting the proceeds into the retirement account where that money can go to work!

You should always finance assuming your interest rate is low AND you can handle a monthly payment without missing any. Protect your wealth, folks.
 

Roger123

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I still believe the math will almost always show taking a low interest loan for as long as possible and keeping your cash, investing somewhere else, etc. is the better financial move.


If the spouse loses their job you still have the cash because you didn’t put it all into buying a car for cash. If you want to ride off into the sunset in your Badlands, you can do that and keep your money working for you, not all in your Bronco. Most successful investors in real estate, etc will always keep their money and use low Interest financing to make more money. Would you buy a $500k house in cash with 2% interest rates?

With that said, I’m about to pay off a 6 year low interest car loan in less than 2 years so I didn’t even follow my own financial beliefs lol. Why did I do it? Emotion not math. Looking to get my Bronco and didn’t want two car payments. I don’t want the FEELING of two car payments even though by keeping the cash you will always have the money.
This is always an interesting discussion, so many people at so many different points in their lives.

No, I would sell my current home and purchase another with cash.

Would you take out a 100% mortgage on your home and invest the money in the stock market?

Why not, it's the same exact thing, but it takes risk into account.
 

BennyBronco69

Badlands
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Gordon
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Badlands
I saw a thread earlier today with people comparing interest rates and it had quite a few members active in the conversation. I also had read an article talking about a high number of bronco owners paid cash. Curious what the percentage really is......

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Financing one (mine). Paying cash for my dad's surprise Bronco.
 

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Russ1Bronco

Base
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Freehold,Nj
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2015 Edge
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Base
Financing $50k for 6 years @ 2% you will pay about $3k in interest. Keeping your $50k and investing it @ a modest 6% for 6 years you will make about $20k in interest.
...And remember at 6% interest..your money doubles every 12 years..
 

FLSTFI Dave

Raptor
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Raptor
I plan to Finance due to good interest rates. But may change my mind when the Bronco shows up. I could put 43K down with out getting into investments.
 

Old Hound

Wildtrak
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Nelson
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Wildtrak
Clubs
 
Excellent credit gets you a terrific rate. Automatic twice a month withdraw payments lesson the over all cost of the loan. Meanwhile, the cash left over from only making a down payment gets invested, and pays a modest 5-8%. The gain beats the loan interest. Now the Bronco changes one factor. You always get a better vehicle cost if you tell the dealer you are financing rather then paying cash. If you want or can pay cash, do it with the finance company or bank after you buy the car, not with the dealer.
We are all paying MSRP right now for a bronco so I don't see your point. Also if I pay cash and decide to sell it to make $10,000.00
on the purchase I'm good, but I am getting it because I am retiring and planed on getting one, from the day I heard Ford was bringing them out again. If I don't like it as much as I think, I'll
trade it for something else in the next year and probably make
money on the trade.
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