Not really......in the realm of sales both vehicles are hoped to be 6 figure sellers. If we were comparing Vehicles with different production goals, like the Raptor F-150 you’d be right. The Bronco is not a low production vehicle
It certainly can if you are on the edge as I discovered in my younger days. With my last purchase, my 2013 Honda Pilot, the final sales price was $41,000 and I had planned to put $10,000 down at a 1.9% interest rate. 2days later, Honda dropped the interest rate to 0.9% and Though I wasn’t required to make any down payment. I then changed my mind and only put a $1,000 down payment with such a low interest rate.
Yes it can. There's a couple things the bank looks at. Let's call it a good balance.... your DTI is debt to income, what you have coming in vs what you pay out. There's also a LTV, the loan to value. When you put money down it helps to balance these things and does get you a better rate. Also avoid rolling negative equity from a trade to your new vehicle too. If you want a more in depth explanation let me know.
This will depend upon your debt to income and with a chunk like that down you should be in a really good position. Make sure whatever dealership you use (before you let them run your credit and before you tell them what you have down) have them lay out in writing what the options and terms are. Do NOT allow them to bully you into a credit application or answering a bunch of questions. THEY WORK FOR YOU. They need to do their job to earn your business not the other way around. If you need help let me know. (I do finance for a living)
I'll be trading in my 2019 Ram lease and will most likely have at least a little negative equity(5k ballpark I'd assume?). I was going to just roll it forward and put a bigger down payment to negate it, but is that my best option? Should I just turn in the vehilce early and pay the cancelation fees? I've never ended a lease early to buy a new vehicle.
Find out what the early termination fees will be. That will be a factor in your decision. You should definitely explore the lease vs buy option to see what works for you. From what I am hearing there will be a lease option. Sometimes Ford offers help with early termination on competitive makes too. You'll have to ask your dealer to lay out the options. Lastly not a lot of dealerships do leases so they might try to sway you away. Or tell you no. Call ahead of time and ask how often they do leases because it can be a huge mess if they're clueless.
Yeah!!People have to learn somehow ?‍I'm sure you weren't always an expert at it ? not being a dick, just saying...
At least people are asking questions and not just jumping into a 10% APR cause they have no idea what they are doing. Give em credit for trying to research!
Thanks! I'll just have to cruch some numbers and see what the best option is. Still have a while to figure it out luckily! You gonna get a Bronco for yourself or are you just the Finanacial Guardian Angel of Bronco6G?
Yes I am getting a Bronco and I ended up here because a customer was getting the run around at another dealership and called our store and i answered. We got to talking and he told me about this site. I joined to jump on the Bronco Bandwagon and of course when I saw all the questions I saw a spot I could help out with and i jumped in. I've actually gotten some angry emails over it too..... but oh well!! I'd rather be honest and help people. I like sleeping well at night knowing I do the right thing. Some dealerships are just gonna hate no matter what.
Don't worry, I'm very attentive to stuff like that.
