Ford should offer 0% Financing for 60 months

[WCP-82]

I'm thinking that 20% of you have no idea how the other 80% live. Also thinking that 10% of you really don't care. I had no idea that the Bronco is a vehicle to separate the haves from the have nots. I guess at $50k there will be plenty of people not even in the discussion. I'm only here because I really like the Bronco and can marginally afford it. Is it really that important to be the cool kid on the block with the new toy? Make sure you tell everyone how much you spent. Sort of like the guy mentioning his Audi was over $60k. Those on the lower end are wanting this vehicle and will sacrifice to get it and not just sell some stock.

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[myrealname123]

Can this thread be over now?

 

[1975U15]

The person you described probably isn’t buying a Bronco until they are 60. Screw that…

Nope. Not for the once upon a time twenty yo that figured out time value of money early. They pay cash.

 

[1975U15]

Can this thread be over now?

Sure. Hit ignore button my friend.

 

[1975U15]

I'm thinking that 20% of you have no idea how the other 80% live. Also thinking that 10% of you really don't care. I had no idea that the Bronco is a vehicle to separate the haves from the have nots. I guess at $50k there will be plenty of people not even in the discussion. I'm only here because I really like the Bronco and can marginally afford it. Is it really that important to be the cool kid on the block with the new toy? Make sure you tell everyone how much you spent. Sort of like the guy mentioning his Audi was over $60k. Those on the lower end are wanting this vehicle and will sacrifice to get it and not just sell some stock.

Who’s a have and who’s a have not?? Be specific.

 

[Daktari]

I have over 200K flyer miles and a free flight voucher from Chase that i got for just paying all my bills on there. I got $800 from Discover for paying for my wedding that i used to buy a brand new tube amp and I got $350 in cash back just a few weeks ago for using a new credit card to pay for my countertops.

Guess how much interest I paid? 0 fucking dollars. Not taking advantage of CC’s responsibly is idiotic.

we have a United Mileage Plus card that we use for everything and ALWAYS pay off. Over the last couple of years I flew my family of 4 to Germany for free three times and we currently have enough miles to do so again. For free. That's currently around $6000. And since United is partnered with Lufthansa, we always flew Lufthansa, direct into Munich. Only thing is that you have to reserve those flight way in advance and there are some black out periods. None of that ever mattered to us. The free $24 k though, that were not even taxed? Yeah, thanks, I'll take it.
Just NEVER use a credit card for actual credit, pay it off.
I have several just to keep several expenses separate, I let the banks do my accounting, pay it off at the end of the months and know exactly what was spent for what. Handy service.

For actual credit these cards are junk, but for this monthly summarized expenses/payment accounting that pays me back? Priceless. IMO.

 

[Lakelife36]

I think the moral of the story is that if you can't brag about buying expensive cars with cash then you don't deserve to have nice things.

 

[JaxGtc]

I think Suze Ormond takes Dave Ramsey in a fair fight.

 

[Sj2021wildtrak]

The asset is depreciating regardless of being paid in cash or not so let's set that aside. If your invested money is outpacing that 2% from the vehicle financing that is a net positive and helps alleviate some of the loss from the depreciation of that asset.

If you can pay cash, cool but to dump on people playing smart with their money, not so much. Not that I'm saying you specifically, but just in general.

No shit, the difference is paying interest on a depreciating asset.

 

[North7]

Why not finance all at 0.9% and put that $31k in GameStop? $GME to the moon!

When the music stops, and your stock takes a tumble, as stocks always have pull-backs and the occasional crash, where will GME be when it is time to sell it and buy your Bronco, to the moon, or just another Bitcoin like crash? Understanding your long term investments vs near term cash needs is best understood when you have time to bank some profits.

The old investment saying says it best, "Bulls make money, bears make money, pigs get slaughtered".

 

[Gamecock]

Borrowing money against a depreciating asset is not good financial advice sorry.

You can’t make that statement in the absence of any other info...and a lot of your assumptions are false on here. I can easily pay cash, but will likely finance regardless if rates are still low. I average way more in returns on my invested assets than today’s interest rates, so pulling money out to pay for a car is stupid. 60k invested for 5 years in equities will give me about $96k with average market returns. My financing cost is well worth keeping that money invested. It is actually really stupid to tie up cash when rates are so low on car loans. Let the money work for you and spend someone else’s for almost nothing....and much less than average market returns.

 

[North7]

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.

The person you described probably isn’t buying a Bronco until they are 60. Screw that…

YOLO, you are correct:
"You only live once" to make smart financial decisions early in life that will affect the rest of your life. Save vs Toys, the choice is yours, if you are able to afford both, excellent, enjoy.

What is the trajectory of your financial life? In this first example below, a 25 year old started saving $500 per month, by retirement age they will have $1.52M with an average stock market return of 7% (with the money sitting is a broad based market ETF, such as VTI, https://investor.vanguard.com/etf/profile/VTI).

The second person waited until age 35 to start saving for retirement with the same inflation reduced $500 per month. Due to this later start at serious, responsible, savings, the second person will only have half as much as the smart 25 year old, $714K, with an average stock market return of 7%, that is $807K less. Now how many YOLO experiences is that?

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