The best worst day

[ScottyC]

I thought the same thing when I bought mine. The finances were over my budget. I decided to go for it and buy it now because I know the price would be worse in the future. I waited 2.5 years and was price protected. My logic was if I feel at anytime that the payments are overwhelming, I could always sell it and break even or maybe prophet a little. I made the right decision and loving it!

Look, Bronco HO...and, it's for sale too!!!

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[Jruta]

sounds like you should have bought a $400 back up sump pump

Unnecessary reply

 

[BigB7]

Wow thanks for the kind words. Was not expecting that. I have two sump pumps but the leaking still came it. They couldn’t keep up. Getting bigger pumps and will fix but it’s costly. Insurance doesn’t cover ground water. Very frustrating. To upgrade pumps and repair everything it eats my large down payment up. I could do it without anything down and still do it but that would eat up a lot of the money for other things which I don’t know if I want to put myself in that situation. I’m leaning towards just walking away. Just so hard after driving it around a bit and waiting so long for it.

 

[CT203]

After waiting 3 years for my badlands sas. with lux, and reordering 3 times and thinking I was never going to see it but finally made it through with a 2023 model. The day before it arrives the basement floods and now I have to spend the bronco money on repairs. Financial it no longer makes sense. Dealer gave me to Tuesday to decide and has been absolutely great but I don’t know what to do. I’ve waiting so long to not do it but don’t want to be in any financial trouble. Getting it for a great price but still not a great situation. Anyways. Just screaming into the void. Take a look. She is beautiful don’t you think?

Ouch. Had a similar situation with a failed septic system. Guessing insurance isn’t kicking in much then? Your time will come and you’ll have an improved new bronco if and when the time is right.

 

[CT203]

Wow thanks for the kind words. Was not expecting that. I have two sump pumps but the leaking still came it. They couldn’t keep up. Getting bigger pumps and will fix but it’s costly. Insurance doesn’t cover ground water. Very frustrating. To upgrade pumps and repair everything it eats my large down payment up. I could do it without anything down and still do it but that would eat up a lot of the money for other things which I don’t know if I want to put myself in that situation. I’m leaning towards just walking away. Just so hard after driving it around a bit and waiting so long for it.

Ground water… like that water didn’t come from the sky. If it came through the roof you’d be covered? Don’t give up on the insurance. I’m sure you’ve paid a lot in deductibles. Go over your policies, read it carefully for loopholes. If you know any attorneys it might be worthwhile to have a chat. I’m pissed for you!

 

[Spartan]

Car loans basically are one of the big things that keeps the middle class down/from ever getting fiscally sound. If you have other responsibilities like your basement, put the money there. You can always get another Bronco down the road and maybe by then these prices will have adjusted downward especially with the coming recession/etc.

 

[RBF 1401]

Wow thanks for the kind words. Was not expecting that. I have two sump pumps but the leaking still came it. They couldn’t keep up. Getting bigger pumps and will fix but it’s costly. Insurance doesn’t cover ground water. Very frustrating. To upgrade pumps and repair everything it eats my large down payment up. I could do it without anything down and still do it but that would eat up a lot of the money for other things which I don’t know if I want to put myself in that situation. I’m leaning towards just walking away. Just so hard after driving it around a bit and waiting so long for it.

Almost all of us at some time had an unexpected event throw us for a loop. If it were me, I would make four lists: all the pros and cons for selling, and all the pros and cons for keeping it. Then decide.


I could see some Pros for Selling It: Resale prices are still high, and you could make a few extra bucks off this one to help with the home repairs. You could always order a new one later the next time you are back in the black. You could get a much lower trim that will still be fun and might fit better in your current budget. There will be a ton of used ones soon.

And of course some Pros for Keeping It: There are no guarantees in life and you might be sad you passed this one up. You say you could keep it but would give up other things, but maybe the other things are not worth more to your health and happiness than the Bronco. You could try keep it awhile to see if you can swing it and if not, sell it later after getting to enjoy it awhile.

Cons to Selling It: If supply chain issues don't ease up, you may be waiting a long time for another one. Ford is going to stop offering price protection and prices are going up, as are interest rates. Ford could discontinue you favorite color or features. You may or may not find a buyer for what you paid for your Bronco. You may be very, very sad.

Cons to Keeping It: As you said, our home repairs will eat into your down payment making you monthly payment more than you were planning. You family may not have put as much importance on owning a Bronco as you did. Something else could come up unexpectedly that requires more money. Bronco is a truck, not an economy car, and during times when you budget is tight, you may be better off driving something with better MPG.


While some of the comments in this thread, including mine, are giving you ideas to add to your personal pro/con list, you should ignore any of the comments that tell you which should be your final decision, because it is YOUR final decision. Nobody else should be telling whether to keep it or sell.

 

[MayhemMike]

Car loans basically are one of the big things that keeps the middle class down/from ever getting fiscally sound. If you have other responsibilities like your basement, put the money there. You can always get another Bronco down the road and maybe by then these prices will have adjusted downward especially with the coming recession/etc.

The loan isn’t the issue. Buying vehicles that are loaded with options that drive up the cost is what becomes their money issues. The same goes for houses, vacations, and technology gadgets. Getting caught up in the gotta have the latest and greatest is the ball and chain. You buy a required vehicle and then keep said vehicle for a minimum of ten years and one makes out.

 

[Tricky Dick]

Is a HELOC an option for the repairs? I have really great terms on mine that help for repairs/renovations and frees up money for other things.

 

[RBF 1401]

Having been debt free more than two decades with growing investments, I can say that nothing is more satisfying and stress relieving.

Wow, I can think of a lot of other things that are more satisfying and stress relieving than being debt free and accumulating money...

Love of family.
Time with friends.
Volunteer work.
Charitable donations.
Teaching.
Learning.
Reading.
Fresh air and exercise.
Time spent in the wilderness.
Sunrises and sunsets.
Nursing babies.
Baking cookies.
Swimming in the ocean.
Dancing.
Singing.
Listening to music.
Playing music.
Playing cards.
Stargazing.
Dreaming.

 

[Rick Astley]

Wow, I can think of a lot of other things that are more satisfying and stress relieving than being debt free and accumulating money...

Love of family.
Time with friends.
Volunteer work.
Charitable donations.
Teaching.
Learning.
Reading.
Fresh air and exercise.
Time spent in the wilderness.
Sunrises and sunsets.
Nursing babies.
Baking cookies.
Swimming in the ocean.
Dancing.
Singing.
Listening to music.
Playing music.
Playing cards.
Stargazing.
Dreaming.

I like being over 6' tall and using money to make money, which often includes some amount of debt leveraging.

Being 100% debt free is seldom a winning long term strategy. Same as being leveraged into inequity.

 

[Brockdog12]

You can get another one some day. I got rid of mine to take care of unexpected medical bills, I don’t miss it like I thought I would, it can be replaced. Maybe by then Ford will build them better.

 

[Tricky Dick]

Wow, I can think of a lot of other things that are more satisfying and stress relieving than being debt free and accumulating money...

Love of family.
Time with friends.
Volunteer work.
Charitable donations.
Teaching.
Learning.
Reading.
Fresh air and exercise.
Time spent in the wilderness.
Sunrises and sunsets.
Nursing babies.
Baking cookies.
Swimming in the ocean.
Dancing.
Singing.
Listening to music.
Playing music.
Playing cards.
Stargazing.
Dreaming.

Reminds me of my all time favorite quote.

 

[Cat]

After waiting 3 years for my badlands sas. with lux, and reordering 3 times and thinking I was never going to see it but finally made it through with a 2023 model. The day before it arrives the basement floods and now I have to spend the bronco money on repairs. Financial it no longer makes sense. Dealer gave me to Tuesday to decide and has been absolutely great but I don’t know what to do. I’ve waiting so long to not do it but don’t want to be in any financial trouble. Getting it for a great price but still not a great situation. Anyways. Just screaming into the void. Take a look. She is beautiful don’t you think?

Maybe get a second job for awhile.

 

[the poacher]

My advice would be to buy it, drive it for a month, and then sell it for a profit. Strong demand for a Bronvo spec'd like yours. Better that you take the profits then your dealer.

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