Finance Rate

[mike8675309]

BOA offered me 2.39 for 72 months, but my dealer will not accept outside liens.

72 months is a bit scary in general for a depreciating asset. But that tells you the dealer was going to pull something on their financing to make a little money.

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[BroncoAZ]

72 months is a bit scary in general for a depreciating asset. But that tells you the dealer was going to pull something on their financing to make a little money.

Now a days the norm seems to be 72 or 84 months. Just wait for the 40 year mortgages that will be coming soon as housing gets too far out of reach for many.

 

[mike8675309]

Now a days the norm seems to be 72 or 84 months. Just wait for the 40 year mortgages that will be coming soon as housing gets too far out of reach for many.

Houses appreciate. Vehicles depreciate. Up to 20% in the first year. Up to 60% in the first 5 years. That can leave you in a rough spot should you want to trade-in down the road where you have to pay them to take your trade. I'm not judging anyone. Just making sure people's eyes are wide open. House loans are very different than vehicle loans.

 

[DFNMAN]

72 months is a bit scary in general for a depreciating asset. But that tells you the dealer was going to pull something on their financing to make a little money.

They added half a point which I was fine with since they didn't mark it up, and it all depends on how much you finance. I put half down, so I will never be upside down in it. People putting 0 down and financing for 84 or 72 months will get themselves in trouble. On a side note, I already like my Bronco more than any other car I have ever owned.

 

[BroncoAZ]

Houses appreciate. Vehicles depreciate. Up to 20% in the first year. Up to 60% in the first 5 years. That can leave you in a rough spot should you want to trade-in down the road where you have to pay them to take your trade. I'm not judging anyone. Just making sure people's eyes are wide open. House loans are very different than vehicle loans.

I don’t disagree with you that housing appreciates long term, but housing has its cyclical ups and downs. Were houses appreciating in 2008-2009? Plenty of people made bad decisions and ended up upside down in houses. We are we’ll overdue for a correction in both housing and the market at this point.

 

[Orangecrush]

Hmm... I lucked out or something. I had 1.29 for 72 from USAA when I went to pick her up. FMC, yes, Ford Motor Credit, did 0.99 for 72. That was a shock to me.

 

[adk749]

Hmm... I lucked out or something. I had 1.29 for 72 from USAA when I went to pick her up. FMC, yes, Ford Motor Credit, did 0.99 for 72. That was a shock to me.

@Orangecrush when did you get quoted 0.99 through Ford Motor Credit? Do you have any documentation you could share?

 

[okccj]

My father had new car dealerships growing up and I have never heard of it either. Luckily I can pay cash and finance it after the sale if they try and bend me over. I will find out in a couple of days.

I thought about that option. Is it easier to just pay cash at the dealership then find my own financing after the fact?

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