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

Bullitt

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It's important to point out that he's speaking to those who are the "75% of Americans living paycheck to paycheck" and his advice is wise.
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Scohin

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I don't owe anything on my current vehicle so that will hopefully get me 12-14k plus I'll be saving the monthly cost+bonuses on a down payment. So I should be at 50% of it already paid off. I generally have ran my vehicles into the ground. My last SUV went out after 12years so hoping that's where we land with the Bronco
 

VictoryLights

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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
I disagree. There is a limit on how long you want to finance a vehicle because they depreciate tremendously and do not last very long. You do not want to be making payments and footing repair bills.

This is an excellent thread. I've gotten the vibes that many on this forum are buying too much vehicle.

One person said they would refinance their house. Others keep mentioning how the delays are giving them more time to save money.

If you are having to save money to buy a vehicle, I think that's a red flag. This is a toy, it's more vehicle than anyone practically needs.
 

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KCSO71

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This will be my post divorce, mid life crisis car. And I'm 100% okay with that
 

Bronc-O

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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
This will likely be my last vehicle, so I'll finance as long as possible, put down as little as possible to keep the payment within reason and enjoy while I can.
 

kodiakisland

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I buy a new vehicle every 9-10 years. I hate a car payment. I don't mind spending money, but just on the things I like. I don't care anything about creature comforts in a vehicle, so I usually buy a base model of the vehicle I want. Then spend money upgrading the components I care most about.

First rule in our house, be able to pay the bills. Second rule is retirement is fully funded. Beyond that, I don't really care. I make money to spend and I spend plenty on the things I like. If I didn't have expensive hobbies I could have a couple million in the bank. I'd have money but wouldn't be happy. I'll take happy.

You got to find your own happy. Like is too short and too hard not to.
 

Bladerunner24

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I'm going to hold out till I see a used one pop up. Maybe in 2023?
 

rgwinn

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I’m putting half down, so only $30,000 :p
 

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Bronc-O

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If you are having to save money to buy a vehicle, I think that's a red flag. This is a toy, it's more vehicle than anyone practically needs.
Some may be saving money so they don't have to tap into something else, not because they lack resources.
 

Incognito

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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
Sounds like you need to join us, the Basesquatch hoodlums.
 

pan-y-cerveza

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Credit Cards are a great thing used properly I put every bill I can on a Credit Card but pay it off every month. I have 4 credit cards. All gain points for different things, Flyer miles, Hotels stay, money back, one we don't use at all but its in just the wife name from 20+ years ago. We will use one build up point then the next then the next. Then we will take a free vacation. Yes, we pay them off every month. Just working the system.
Shhhh. Don't tell everyone. People that don't use them right keep this gravy train moving.

I used to put all my work flights (at least 4 per month) on my own CC. My boss couldn't understand why even though they reimbursed me. Thought I would end up with too much debt.

I flew for free for years with those points.

In my younger days I would have read OPs advice and ignored it. It took me a few years to figure it all out but instead of abusing my own financial system I found that I could make the system work for me. Glad I figured it out early so I can buy this silly truck.
 

BHShaman

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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%.
If you do that you better plan on 1: owning it forever and 2: that your first year build is not a lemon.
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