Feds to up Interest Rates

[amazingjason]

I will just refinance when things change. I want my Bronco when it arrives!

Not a good expectation or strategy at this time.
Jason

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[amazingjason]

Someone with a house worth over 2 million dollars, bragging about it and telling people that live paycheck to paycheck, that borrowing money for the necessities of life like a car and a house is bad thing.
Not everyone is as lucky as you are, obviously you’ve gotten too out of touch with reality to realize that.
Hilarious

You can get by with a much less expensive car and you will be more likely to end up a millionaire.
Jason

 

[amazingjason]

When the rates finally do drop, how many folks think prices will go back to "normal" ?.... corporations have gotten FAT off the people, they'll drop the prices a little too make folks think they're playing ball, but ONLY a little. We all will STILL be paying a ridiculous amount for groceries, gas, homes and the like...

We might, maybe, perhaps see inflation slow, but prices will not go down.
Jason

 

[BroncoA512021]

Says the guy who wouldn't take a 7 year loan at 1%


Citi Accelerate savings account is at 3.85%

I am debt free.............

 

[BroncoA512021]

I’m a teacher. My pay sure as hell hasn’t increased anywhere near 9%since 2021.

I’ll have to check on that stat.

No complaints her in NY about my Wife. Teacher pay and benefits are great...

 

[Compta38]

Last summer my credit union charged me a 3% rate and that same loan now carries a 5% rate. We paid about 50% down and financed the remainder. I guess we got lucky because that was before the insane hikes started kicking in.

I wouldn't finance a car or home right now or the foreseeable future unless I absolutely had to. Anybody that thinks the vast majority of Americans can just run out and pay cash for everything is delusional and out of touch with reality.

 

[BroncoAZ]

No complaints her in NY about my Wife. Teacher pay and benefits are great...

Arkansas isn’t known for great teacher pay. The benefits are nowhere near the extortion of the taxpayers that happens in NY. I’d guess your real estate prices and property taxes are a reflection of that and why anyone who can seems to be fleeing to Florida or other places south.

 

[Jeffp1108]

The only people worried about the FEDS interest rate are those that couldn't afford it to begin with.
Yes, if you have to go over 60 months you can't afford it.

No complaints her in NY about my Wife. Teacher pay and benefits are great...

im not complaining. I’m just saying my pay hasn’t increased 9% (or even close) since 2021.

 

[NatureMan]

We have great rates on our 30 yr mortgage(under 3%, thanks covid) and two auto loans(under 4%). I would pay vehicles off early, but CDs and online savings accounts are paying me higher rates. I’m also maxing out retirement accounts instead of paying off vehicles.

For some reason, my wife wanted to look at travel trailers. The rates are around 9% which is ridiculous. I do not see rates dropping this year.

 

[VoltageDrop]

I am debt free.............

That's great! It's a personal philosophy thing but I'd take a 20 year loan on the Bronco if I could get it at 1%, especially with plain savings accounts paying 4% now.

 

[Overcooked]

Someone with a house worth over 2 million dollars, bragging about it and telling people that live paycheck to paycheck, that borrowing money for the necessities of life like a car and a house is bad thing.
Not everyone is as lucky as you are, obviously you’ve gotten too out of touch with reality to realize that.
Hilarious

Being smart on money gets you wealth. Living paycheck to paycheck and "need" a Bronco which is essentially a toy? Come on.
When I was living paycheck to paycheck, I was driving a shitty 10 year old mustang V6 with 150K miles, that shit was falling apart, and I would've never dream of owning an expensive car like a Bronco. I guess it's all about setting priorities in life.
You be you, you can keep living paycheck to paycheck and driving fancy cars, and my best wishes to you. I chose to correlate my spending to my income, and I have been working very hard to get where I am today. Luck will get you a powerball lottery hit, not a stable high paying job.

 

[760 bronco]

Being smart on money gets you wealth. Living paycheck to paycheck and "need" a Bronco which is essentially a toy? Come on.
When I was living paycheck to paycheck, I was driving a shitty 10 year old mustang V6 with 150K miles, that shit was falling apart, and I would've never dream of owning an expensive car like a Bronco. I guess it's all about setting priorities in life.
You be you, you can keep living paycheck to paycheck and driving fancy cars, and my best wishes to you. I chose to correlate my spending to my income, and I have been working very hard to get where I am today. Luck will get you a powerball lottery hit, not a stable high paying job.

1. I wasn’t referring to me, I was just saying in general. I have a stable job and have everything I need but I don’t go on the internet flaunting it.
2. I wasn’t even referring to a bronco, that’s any new car that someone finances. “If you can’t afford it in cash right now like me you can’t afford it” a very small amount of people can afford a new car off the lot in cash, that’s the reality…
Again jumping to conclusions and having 0 background on someone’s sittauon, yet here you are giving financial advice when you are clearly out of touch with the reality of most people’s day to day….
Have a good day, maybe try to go buy someone in need lunch or something to humble yourself because wow….

 

[760 bronco]

You can get by with a much less expensive car and you will be more likely to end up a millionaire.
Jason

how many people afford cars off the lot in cash vs finance, whether it’s a cheap ass Sentra or a bronco raptor… why do you think every single car company has a financing department on site lol

people act as if financing a car is a foreign object to them. I don’t struggle to afford the vehicles I own but i also realize the reality of most of the world’s financial situation.
I was 19 and had my first child, I couldn’t really be driving around a 92 Ford explorer with no working ac so I financed a little Altima for $350 a month and easily afforded it working a dishwasher job, but it was a necessity I needed for my family and I didn’t have the $12,000 laying around for that car, I was some broke ass young kid with a need for a reliable car.

 

[Overcooked]

1. I wasn’t referring to me, I was just saying in general. I have a stable job and have everything I need but I don’t go on the internet flaunting it.
2. I wasn’t even referring to a bronco, that’s any new car that someone finances. “If you can’t afford it in cash right now like me you can’t afford it” a very small amount of people can afford a new car off the lot in cash, that’s the reality…
Again jumping to conclusions and having 0 background on someone’s sittauon, yet here you are giving financial advice when you are clearly out of touch with the reality of most people’s day to day….
Have a good day, maybe try to go buy someone in need lunch or something to humble yourself because wow….

Well, you had zero background in my situation and you claimed I get what I have because I am lucky? Double standards my friend?
And I don't see any problems when people finance a car that they actually need for their day to day life, however, this is a Bronco forum, not a Camry or Highlander forum, Broncos have a lot of fun and I love them, but they are grossly impractical. Broncos are life style vehicles, usually not for people living paycheck to paycheck. Such people bidding on Broncos and pay 15K over MSRP are like financing a Zenith watch while a Casio works just fine

 

[Jeffp1108]

1. I wasn’t referring to me, I was just saying in general. I have a stable job and have everything I need but I don’t go on the internet flaunting it.
2. I wasn’t even referring to a bronco, that’s any new car that someone finances. “If you can’t afford it in cash right now like me you can’t afford it” a very small amount of people can afford a new car off the lot in cash, that’s the reality…
Again jumping to conclusions and having 0 background on someone’s sittauon, yet here you are giving financial advice when you are clearly out of touch with the reality of most people’s day to day….
Have a good day, maybe try to go buy someone in need lunch or something to humble yourself because wow….

Wow, indeed.

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