Let's help each other get the best auto loan finance interest rates

Bronco4lyfe85

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Those individuals also don't understand the additional cost of gap insurance.
Gap insurance? Lol. It’s like what $300-400 if you’re smart and don’t use the dealer. Nobody finance anything, gap will bankrupt you!





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Hizero

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Ok, here’s my positive addition:

If you need to finance a car for 84 months, you can’t afford it. No one likes to hear the truth but whatever. At least I can tell it the way it is.

WHY encourage someone that 84 months is the way to go when a vehicle depreciates 50% off the lot??

Honestly, OP, if someone is really telling you - 72/84 finance is for you, you’re just waiting for someone to tell you what you want to hear so you can justify an buying depreciating liability.
 

Bdockins

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I’m putting 10k+ down, so I don’t think 84 months is that terrible
EXACTLY. it’s all about the equation. I’m putting 10+ Down too; and if some dude from some outta state CU wants to give me a bonkers % on an 84 then I might just do it. It won’t be upside down at any point at 12k miles per year.
 

Eric L.

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Since at this point I'm planning on buying from Granger I will give them a chance to get within a half point or so of my credit union. We're not talking about a big sum of money and to this point they've earned it. The difference between 3% and 3.5% for $30,000 @ 60 months is like $400.
 
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andi

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Ok, here’s my positive addition:

If you need to finance a car for 84 months, you can’t afford it. No one likes to hear the truth but whatever. At least I can tell it the way it is.

WHY encourage someone that 84 months is the way to go when a vehicle depreciates 50% off the lot??

Honestly, OP, if someone is really telling you - 72/84 finance is for you, you’re just waiting for someone to tell you what you want to hear so you can justify an buying depreciating liability.
Dang, chill out my guy, lmao I’m not waiting for anyone to tell me anything, I’m trying to help others out, if you not offering help like the others don’t reply to this thread, lol
Thanks but no thanks !
 

RLW

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Dang, chill out my guy, lmao I’m not waiting for anyone to tell me anything, I’m trying to help others out, if you not offering help like the others don’t reply to this thread, lol
Thanks but no thanks !
His response was probably one of the more helpful responses on this thread.
 
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andi

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His response was probably one of the more helpful responses on this thread.
Lol okay, another one,
My initial thread was about just simply posting finance rates that you will be using, not ur opinion whether it’s a bad idea to have 84 months
 

deckape

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Ok, here’s my positive addition:

If you need to finance a car for 84 months, you can’t afford it. No one likes to hear the truth but whatever. At least I can tell it the way it is.

WHY encourage someone that 84 months is the way to go when a vehicle depreciates 50% off the lot??

Honestly, OP, if someone is really telling you - 72/84 finance is for you, you’re just waiting for someone to tell you what you want to hear so you can justify an buying depreciating liability.
I bet you're a blast at parties... I always take financial advice from random internet millionaires:rolleyes:

I get that public school math may not be your thing, but blanket statements stating absolutes are NEVER true. Insanely rich people become insanely rich by using other peoples money to their advantage. Many people (including me) have the ability to pay cash for their new Bronco, but instead will leverage other peoples money on a depreciating asset in order to keep their own money more liquid. This is Econ 101. But, by all means, you continue making your millions by providing financial advice to the rest of us Huckleberries...
 

Russ1Bronco

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84 months ????
..I've never had a loan more than 60 months,and paid most of them off early..but I do like the idea of 84 months,if you're going to finance...with 84 months,you get the smallest ,monthly payment..in this environment,where jobs could be suspended at any time...you have a chance to keep your ride...you can double up,or triple up your payment every month ....if you need it...the convenience is there...I'm going to try and get 1.9% with Ford Credit..
 

BroncoJay

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His response was probably one of the more helpful responses on this thread.
No it wasn’t...
Really it wasn’t...
But thanks for playin..
 

BroncoJay

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Ok, here’s my positive addition:

If you need to finance a car for 84 months, you can’t afford it. No one likes to hear the truth but whatever. At least I can tell it the way it is.

WHY encourage someone that 84 months is the way to go when a vehicle depreciates 50% off the lot??

Honestly, OP, if someone is really telling you - 72/84 finance is for you, you’re just waiting for someone to tell you what you want to hear so you can justify an buying depreciating liability.
I get you think you are trying to make a point but to say something like a vehicle depreciates 50% off the lot is plain stupid...

Personally I wouldn’t finance a vehicle for 84 months but to say you can’t afford it is also plain stupid..
I’ve got a lot of construction friends buying $80-90k trucks and are going 84 months. I am pretty damn confident they are financially savvy and doing just fine...
 

RLW

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I get you think you are trying to make a point but to say something like a vehicle depreciates 50% off the lot is plain stupid...

Personally I wouldn’t finance a vehicle for 84 months but to say you can’t afford it is also plain stupid..
I’ve got a lot of construction friends buying $80-90k trucks and are going 84 months. I am pretty damn confident they are financially savvy and doing just fine...
These car loans being stretched out farther and farther to get the monthly payment affordable for people. Getting them into an $80k truck when they make $80k a year.

reminds me of the 2007 housing loan market. That didn’t turn out to great.
Just saying I see a lot of similarities...
 

chownd

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Yeah, please be careful with anything longer than 60 months

That said, check out your local credit unions, their rates will often beat the major banks and most do good in their immediate community. No idea why anyone banks at BofA or other national banks in 2020
 
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andi

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These car loans being stretched out farther and farther to get the monthly payment affordable for people. Getting them into an $80k truck when they make $80k a year.

reminds me of the 2007 housing loan market. That didn’t turn out to great.
Just saying I see a lot of similarities...
Okay mr. millionaire, thanks for the advice
 

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