Ford should offer 0% Financing for 60 months

sgraing1

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I would settle for 36 month at zero percent. I have cheap taste, low standards, and low overhead.





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jaruss01

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Guess I’m going to my credit union. Not sure how to skin this cat.

I ALWAYS lease, then sell my lease equity at end of term, bc I’m under mileage. but definitely won’t be doing so with current lease deals from ford. They’re abismal. Will probably put on 4-6k miles a year. But don’t want a pmt over 500/mo. My build is 58k a d Fords lease deals are wayyy out of whack compared to Japanese/European leases I’ve had in the past.

thinking about putting 27k down to solve for a 72 month financing to get to 500/mo. No trade in. Excellent credit and the down pmt doesn’t change my financial outlook. It’s just another portion of cash holdings that I prefer to not invest. So no impact on my portfolio, but I’ve heard others say don’t finance beyond 48 months...for me I’m trying to solve for the lowest payment possible. It sounds like I’m taking a roundabout approach to this but not sure what to think. If the production wasn’t rushed I’d pay all cash and not think twice since I want to keep the bronco long term, but at the moment I’m fixated on boxing out 500/mo given my mileage needs, and hedging a bit about the potential of getting a lemon
 
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Bituman

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First off you are talking about a very small percentage of people that actually have and are willing to risk that much money. Most will finance and if they have the equivalent in value In cash it will likely stay in a bank account and not invested. Second doesn't matter what you say financing at 2% on a depreciating asset is the opposite of wealth generation. And third if one can pay 50k+ cash they probably have plenty of money and appreciating assets, if not they are just stupid.
Agree with this, especially third point.

Obviously, it is entirely possible to plop down down $50k in a mutual fund and offset a low interest rate on a $50k car loan. That assumes the load period is long enough to average out in a positive rate of return, which is not always the case. But how many people have the discipline to do this? It sounds like some on this thread may have that discipline, so congrats, you all have good financial sense. But I think on average that is not the case. As you say, most get lazy and leave it in a bank or more likely, spend it down on other stuff and don’t invest.

I think the poster that started this debate was just trying to say that if someone needs to borrow so much with the attending big car payment, then maybe they ought to spend a bit less and take the difference and work toward the third point that @Sj2021wildtrak makes.

Edit: strongly agree don’t take financial advice from some random dude on the interwebs, especially me ;)
 
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North7

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Regardless of your chosen approach to car buying, just ask yourself, for your age, stage of life and income level:

Do you have an emergency fund with 6-12 months of living expenses?

Do you have a home savings plan or a home your paying on?

Do you set money aside every month for retirement, in case you don't get hit by the proverbial bus?

If you have kids or are planning to have kids, do you have, or have plans for a college savings plan?

Now, based on those answers, is your chosen approach to car buying the right one?
 

Erock

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I like reading the threads talking about finance. I get amused by people telling us poors what we can afford or do with what little money we have. I am looking at a six year note at around 3% with 10% down to keep my payment in the mid $600's. I have been a cop for 27 years. A divorce crushed me financially and I ended up raising two kids by myself for ten plus years. I am close to retirement. I am hoping the Bronco gets here way before I have had enough of working the job. Pay for it more with salary and less with my retirement. It won't though. I am on my last leg as far as dealing with work stress. So I need to stretch a payment out to keep the monthly low. I guess I made poor life decisions and as a result I don't deserve to own a Bronco?

I have never owned a new vehicle. I have leased two VW because their lease rates are very affordable. I want the Bronco. I can fit it into my retirement budget. F you if you think I shouldn't buy it because I can't pay cash or pay it off in 4 years. I'll probably drive it until they bury me so who cares how long the term is?
I think we just became best friends.
 

HotdogThud

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I like reading the threads talking about finance. I get amused by people telling us poors what we can afford or do with what little money we have. I am looking at a six year note at around 3% with 10% down to keep my payment in the mid $600's. I have been a cop for 27 years. A divorce crushed me financially and I ended up raising two kids by myself for ten plus years. I am close to retirement. I am hoping the Bronco gets here way before I have had enough of working the job. Pay for it more with salary and less with my retirement. It won't though. I am on my last leg as far as dealing with work stress. So I need to stretch a payment out to keep the monthly low. I guess I made poor life decisions and as a result I don't deserve to own a Bronco?

I have never owned a new vehicle. I have leased two VW because their lease rates are very affordable. I want the Bronco. I can fit it into my retirement budget. F you if you think I shouldn't buy it because I can't pay cash or pay it off in 4 years. I'll probably drive it until they bury me so who cares how long the term is?
I tell you what man. there is nothing quite like owning a new vehicle and knowing that you are the only person that has ever farted in it.
 

RBF 1401

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Sometimes I don't know whether to laugh or cry when a bunch of strangers with VASTLY different financial situations start arguing about what is or isn't sound money management.

As someone with a degree in mathematics, I have no problem comprehending how money works.

But as a teacher...

I have no money.

If I took the "sound financial advice" of all the people I know who have more than nothing... I would be in way worse shape.

Keep arguing about it if you like, but please keep in mind that we all have different "SES" backgrounds. And we don't all have portfolios (even though I did before I changed careers), we don't all have spare money to invest, and we all have different long-term financial goals.
 

mpeugeot

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Regardless of your chosen approach to car buying...

Now, based on those answers, is your chosen approach to car buying the right one?
All good questions. There really are so many different ways to play it, but the bottom line is that there will be one way that usually works best for any given individual.

Optimally, you will have assets that don't depreciate significantly (like a home - hopefully), savings for 6-12 months of expenses, and the costs associated with your fornication trophies mitigated through a thoughtfully planned financial strategy.

The fact is that few people are that well disciplined... Although one could argue that many of the undisciplined have already canceled their orders to go buy Jeeps!
 

VoltageDrop

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That is 100% correct. However if you cannot afford to pay it off in under 48 months you can't afford it. The 2020 Audi I bought last year was $62K. I was able to get .9% for 36/mo. I could have paid cash. I chose to finance half at .9% and invested the other $31k. So far I am making more than the depreciation and putting money in my pocket. The end game is time vs money. If you extend your loan duration too long the depreciation will eat up your investment profits.
When giving financial advice, it's generally best to not lead with "I bought a brand new Audi" 😁

Depreciation is the same regardless of loan term. Why not finance all at 0.9% and put that $31k in GameStop? $GME to the moon! 🚀🚀🚀
 

1975U15

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Regardless of your chosen approach to car buying, just ask yourself, for your age, stage of life and income level:

Do you have an emergency fund with 6-12 months of living expenses?

Do you have a home savings plan or a home your paying on?

Do you set money aside every month for retirement, in case you don't get hit by the proverbial bus?

If you have kids or are planning to have kids, do you have, or have plans for a college savings plan?

Now, based on those answers, is your chosen approach to car buying the right one?
I’ve avoided this thread intentionally. But here I am. My jobs been finance for almost twenty years. @North7 just summed up personal finance 101 almost perfectly.
 

Toccoa

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Regardless of your chosen approach to car buying, just ask yourself, for your age, stage of life and income level:

Do you have an emergency fund with 6-12 months of living expenses?

Do you have a home savings plan or a home your paying on?

Do you set money aside every month for retirement, in case you don't get hit by the proverbial bus?

If you have kids or are planning to have kids, do you have, or have plans for a college savings plan?

Now, based on those answers, is your chosen approach to car buying the right one?
The person you described probably isn’t buying a Bronco until they are 60. 😂 Screw that…

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Brocked

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You Boys need to settle down tonight. We will fight tomorrow over cargo capacity and cup holders!!!! Or you can get a life and leave the forum for a few days. Its ok.........it will still be here.
 

kylesredapple

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Well this is what I did to pay for my Bronco. On July 13th, 2020 I reserved my Bronco and on July 14th, 2020, I bought 4,552 shares in Ford @ $6.81 per share. Looks like Ford has bought me a Bronco. 😁
 

Ocbucks

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WE NEED TO START A PETITION ASKING FORD TO OFFER FINANCING INCENTIVES DUE TO THE COMPLICATIONS THEYVE HAD CONCERNING THE PRODCUTION AND DELIVERY OF THE NEW FORD BRONCO. ZERO PERCENT FOR 60 MONTHS, 1.9% FOR 72 MONTHS AND 3.9% FOR 84 MONTHS. YOUR THOUGHTS?
 

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