Sponsored

Ford should offer 0% Financing for 60 months

sgraing1

Black Diamond
Well-Known Member
First Name
Steve
Joined
Mar 30, 2021
Threads
23
Messages
767
Reaction score
1,647
Location
451xx
Vehicle(s)
2022 Bronco Black Diamond.A Bunch More Junk.
Your Bronco Model
Black Diamond
I would settle for 36 month at zero percent. I have cheap taste, low standards, and low overhead.
Sponsored

 

jaruss01

Outer Banks
Well-Known Member
Joined
Jul 14, 2020
Threads
149
Messages
2,925
Reaction score
5,331
Location
NJ
Vehicle(s)
2021 XC90 T6 R-Design / 2020 S60 T6 AWD
Your Bronco Model
Outer Banks
Guess Iā€™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 Iā€™m under mileage. but definitely wonā€™t be doing so with current lease deals from ford. Theyā€™re abismal. Will probably put on 4-6k miles a year. But donā€™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 Iā€™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 doesnā€™t change my financial outlook. Itā€™s just another portion of cash holdings that I prefer to not invest. So no impact on my portfolio, but Iā€™ve heard others say donā€™t finance beyond 48 months...for me Iā€™m trying to solve for the lowest payment possible. It sounds like Iā€™m taking a roundabout approach to this but not sure what to think. If the production wasnā€™t rushed Iā€™d pay all cash and not think twice since I want to keep the bronco long term, but at the moment Iā€™m fixated on boxing out 500/mo given my mileage needs, and hedging a bit about the potential of getting a lemon
 
Last edited:

Bituman

Wildtrak
Well-Known Member
First Name
Bob
Joined
Mar 21, 2021
Threads
4
Messages
374
Reaction score
681
Location
Phoenix, AZ
Vehicle(s)
S-Works Roubaix, Vassago Mooseknuckle, Turner Czar
Your Bronco Model
Wildtrak
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 donā€™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 donā€™t take financial advice from some random dude on the interwebs, especially me ;)
 
Last edited:

North7

Well-Known Member
Joined
Feb 21, 2020
Threads
111
Messages
7,264
Reaction score
25,477
Location
North Texas
Vehicle(s)
SUV
Your Bronco Model
Undecided
Clubs
 
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?
 

HotdogThud

Big Bend
Well-Known Member
Joined
Jan 14, 2021
Threads
23
Messages
2,342
Reaction score
13,003
Location
Arizona
Vehicle(s)
mk6 gti, '21 MoarDoor
Your Bronco Model
Big Bend
Clubs
 
Hereā€™s the best advice- donā€™t take random internet strangers advice and take it as fact...
I dunno man, some dude on here suggested that I get a Forester, and I'm starting to think that's good advice.
 

Sponsored

Erock

Badlands
Well-Known Member
First Name
Eric
Joined
Jan 30, 2021
Threads
1
Messages
2,171
Reaction score
5,104
Location
US
Vehicle(s)
2018 F150 Alpine edition
Your Bronco Model
Badlands
Clubs
 
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

Big Bend
Well-Known Member
Joined
Jan 14, 2021
Threads
23
Messages
2,342
Reaction score
13,003
Location
Arizona
Vehicle(s)
mk6 gti, '21 MoarDoor
Your Bronco Model
Big Bend
Clubs
 
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

Base
Well-Known Member
First Name
Tricia
Joined
Oct 4, 2020
Threads
6
Messages
2,130
Reaction score
7,250
Location
Tucson
Vehicle(s)
98 Avalon, 95 Dakota
Your Bronco Model
Base
Clubs
 
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

Outer Banks
Well-Known Member
First Name
Mark
Joined
May 14, 2021
Threads
17
Messages
7,299
Reaction score
13,558
Location
Texas
Vehicle(s)
97 Ferrari F355, 11 Ford F-150, 21 OBX 2D
Your Bronco Model
Outer Banks
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

Base
Well-Known Member
First Name
Eric
Joined
Jul 22, 2020
Threads
14
Messages
1,414
Reaction score
3,952
Location
Fidalgo Island, WA
Vehicle(s)
23, 69 Bronco
Your Bronco Model
Base
Clubs
 
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" šŸ˜

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! šŸš€šŸš€šŸš€
 

Sponsored

1975U15

Outer Banks
Well-Known Member
Joined
Jan 21, 2021
Threads
4
Messages
1,772
Reaction score
5,576
Location
Utah
Vehicle(s)
2019 F-350 SD, 1975 Bronco
Your Bronco Model
Outer Banks
Clubs
 
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?
Iā€™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

Big Bend
Well-Known Member
Joined
Jan 30, 2020
Threads
82
Messages
6,001
Reaction score
30,398
Location
USA
Vehicle(s)
Isuzu Rodeo Sport
Your Bronco Model
Big Bend
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 isnā€™t buying a Bronco until they are 60. šŸ˜‚ Screw thatā€¦

Ford Bronco Ford should offer 0% Financing for 60 months 1622866826168
 

Brocked

Wildtrak
Well-Known Member
First Name
Brock
Joined
Aug 6, 2020
Threads
16
Messages
698
Reaction score
1,824
Location
H-Town, Texas
Vehicle(s)
Lots
Your Bronco Model
Wildtrak
Clubs
 
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

Base
Well-Known Member
First Name
Kyle
Joined
Jan 15, 2021
Threads
10
Messages
127
Reaction score
367
Location
Gallup NM
Vehicle(s)
77 F150 4x4 SB, 16 f150, 15 powerstroke,94 Honda A
Your Bronco Model
Base
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. šŸ˜
Sponsored

 
 


Top