- First Name
- Jacob
- Joined
- Jul 16, 2020
- Threads
- 85
- Messages
- 4,258
- Reaction score
- 18,665
- Location
- Greenville, SC
- Vehicle(s)
- 2021 Badlands Bronco
- Your Bronco Model
- Badlands
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10% of net?? I wish.... LolI have a different perspective....Finance as long as you want and put as little down as possible ....if the finance rate is low, like sub 3%. The price of the actual vehicle and the APR is what’s important. The payments will just reflect that. As a guideline, if financing , like the monthly payment to be about 10% of total net take home. I agree the Bronco is a toy and totally unnecessary though. But who wants to drive a base Corolla? Lol
Ugh, totally DISAGREE! Debt is a scourge. Don't finance beyond 5 years. If you can't swing it unless you go a longer term, then don't buy it. I agree with the author of this post, put a sizeable down payment.I have a different perspective....Finance as long as you want and put as little down as possible ....if the finance rate is low, like sub 3%. The price of the actual vehicle and the APR is what’s important. The payments will just reflect that. As a guideline, if financing , like the monthly payment to be about 10% of total net take home. I agree the Bronco is a toy and totally unnecessary though. But who wants to drive a base Corolla? Lol
I'm hoping to pay cash for my Bronco upon delivery. My wife and I are planning for it and are socking away what we feel is needed for the purchase. That being said, one of my good friends has gone bankrupt... twice. Yep, twice. And he is in his early 40s. He and his wife live WAY outside their means, like to keep up with the Joneses and are completely content doing the whole "clean slate protocol" every decade or so. He says he hates doing it, but it's not like he's changing his ways to make it not happen again. The last bankruptcy happened just before COVID-19 hit hard so I'm sure they will land on their feet. I don't have that kind of luck(?).?I’m making the assumption we are all adults here. Do what you think is best for your particular financial situation. A lot of people here will give advice as gospel, take it with a grain of salt and do what fits you and your family’s wants and needs...
I hear ya, I have a 2015 Challenger Scat Pack. My current daily driver is a loaded up Ford Edge, which I'm planning to trade for Bronco! For vehicle lovers, the cost of owning ones that we love is worth it! My husband and I work hard and are good at pay off loans early. You would not catch me ever owning something practical and boring like a corolla or minivan!Is the Bronco really a Toy?? Man and here i was thinking it is going to be one of the most responsible vehicles I've ever bought. Especially living in the Northeast. I could just go buy a Challenger Hellcat now that's a Toy with not to much practicality. But 717 Horsepower, that infectious supercharger whine, looks that kill, and a pretty large interior is tempting Especially with $7k off right now and 0% financing. I had a 2015 Challenger Scat Pack and i miss it. The Angel on my shoulder says get the Bronco but the Devil says get the Hellcat. Hopefully I don't crack during the year long wait....??
I'm taking a slightly different route on it. Assuming the rates remain what they are now, I think I'm going to just finance 100% of the cost for 48 months at 0.9% I could put the $5,000 or more that I could put down on the car, invest it even in a low-yield CD and still earn more than 0.9%. Putting $5,000 down saves me less than $100 a month on the payment, which, while expensive ($1,233 if I don't put anything down), I can swing since I just did a cash out refinance on my house and am completely debt free minus my mortgage.Ugh, totally DISAGREE! Debt is scourge. Don't finance beyond 5 years. If you can't swing it unless you go a longer term, then don't buy it. I agree with the author of this post, put a sizeable down payment.
Buy a car you can afford and don't stretch yourself. You will get a LOT more satisfaction when you are older, it you'd saved and invested, rather than spent foolishly when you were young. I'm sure most young folks won't take this advice, but if just one does, I'm happy.
B5 blue representin!!!! I like your style!I hear ya, I have a 2015 Challenger Scat Pack. My current daily driver is a loaded up Ford Edge, which I'm planning to trade for Bronco! For vehicle lovers, the cost of owning ones that we love is worth it! My husband and I work hard and are good at pay off loans early. You would not catch me ever owning something practical and boring like a corolla or minivan!