- First Name
- Ben
- Joined
- Jul 25, 2020
- Threads
- 17
- Messages
- 1,755
- Reaction score
- 2,486
- Location
- Interior of BC
- Vehicle(s)
- 2010 Kia Borrego, 2012 Chevy Cruze, 2022 Bronco
- Your Bronco Model
- Big Bend
Questions: What's the interest rate on the Escape and have you compared interest rates on different terms for the Bronco? If you have a really good rate on the Escape and for the Bronco can get a much lower rate on a shorter loan than a longer term one, then a large down payment on the Bronco probably makes sense. If you can then afford both payments at the same time.Was originally planning a single car payment.
Oak tree fell on wife's Ford Focus.
You could say plans have now changed.
Wife's new vehicle is a Ford Escape, and I could realistically pay it off before the Bronco arrives thanks in large part to the 2022 MY delay. BUT... doing so would decimate my down payment on my Bronco. Mathematically it's the correct move to pay off the Escape, but not sure how that'll impact my ability to get approved for financing on the Bronco... so I've been hesitant to write the big payoff check on the Escape. (If any financial folks are around, feel free to chime in as to which move makes the most sense.)
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