Just as a bit of advice to everyone on here, don't bankrupt yourself trying to get a Bronco

WuNgUn

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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
10% of net?? I wish.... Lol
I do okay for myself (bachelor, single income) but 10% of my net a month would be $375. Lol.
If I finance for 7 years, that would be about my bi-weekly payment.
In Canada, a Badlands with some option and tax is about $67,000
 

Cheshire

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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
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.

Buy a car you can afford and don't stretch yourself. You will get a LOT more satisfaction when you are older, if 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.
 
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BroncoJay

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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...
 

Shotsy

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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'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 can't do that. I live in a modest house, live sort of on the cheaper side so I can spend my money on stuff I want. Retirement, vacations, cars, whatever. People at work don't understand why I don't buy lunch or coffee. Telling them the math for those purchases easily shows how I can go on an exotic vacation twice a year while they're sipping shitty coffee on the daily.

Just showcasing two ends of the spectrum, I guess.I agree with doing what's right for your situation. I don't agree with overextending yourself for a car. It's not worth it in the long run.
 
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BroncoFanGirl

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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 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!

20200331_134627.jpg
 

jayhawkco

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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.
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.

Chris
 

North7

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The quality of life for travel, family, career and retirement is based on the choices you make early in life. Save vs Toys, the choice is yours, if you able to afford both, wonderful.

Start saving at age 35 with an average stock market return of 7% and you have $714K at retirement.

Start saving earlier, at age 25 and you have $1.521M, or $807K MORE.

https://www.daveramsey.com/smartvestor/investment-calculator
Growth 35.png

Growth 25.png
 

Bronco4lyfe85

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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!

20200331_134627.jpg
B5 blue representin!!!! I like your style!

57B1E8C8-E334-45F3-A190-48D5BE1F0836.jpeg
 

dmtndan

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well I pay off my car in a year and a half... then I have the student loans..... and my Ladies student loans..... and her vehicle..... and then helping our parents..... and then....:. Damn. If you really look at it this bronco will be a financial burden no matter what. That being said,I need a much more capable vehicle and one that is going to last until the grandkids can drive it. If I have learned one thing the time to make financial risks ***to a point don’t bankrupt yourself*** is when you are young like myself. Seeing I may need this vehicle to come with me overseas, all over the country, and more I think the bronco is a great fit for that. That being said I’m not looking for the Badlands or WildTrac. I was thinking big bend or Black Diamond with more road focused wheels as I’m being realistic. Also being realistic I’m probably not going to be getting this bronco for another 3-5 years..... hopefully I still have my bronco6g sticker then!
 

MrJoe

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I've been saving for 5 years for this. I'll be okay. I couldn't afford it otherwise.
 

Bronco4lyfe85

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10% of total net take home huh? Never heard that and I’ll still be below that with this car. Perfect.
 

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