Wasn’t planning on financing, but…

[Balthezor]

Those savings won't last AT ALL if he follows your advice; because you advised him to buy the $60k Bronco so that he could effectively get welfare to cover the bills HE is incurring....talk about twisted sense of right and wrong and personal responsibility.

And talk about ACL surgery. He going to be laying in the trunk instead of driving it for awhile.

Agree with Gamecock on this 100%. It's like the people who have the newest Iphone and also on food stamps while I can't even get a single dollar credit for my kid because I just make enough. Such bullshit.

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[LowerSlowerDelaware]

It doesn't take a Dave Ramsey or Suze Orman to tell you the Bronco purchase is no bueno until you're back on your feet medically and financially with a new job and then it may still may not be advisable until you completely recover from this rough financial situation.

Unfortunately, the only real viable Bronco option is to flip it if you can. If not, let it go and take step back while you wait for better times ahead.

 

[Balthezor]

It doesn't take a Dave Ramsey or Suze Orman to tell you the Bronco purchase is no bueno until you're back on your feet medically and financially with a new job and then it may still may not be advisable until you completely recover from this rough financial situation.

Unfortunately, the only real viable Bronco option is to flip it if you can. If not, let it go and take step back while you wait for better times ahead.

I'm all about splurging. Hell, I could never do Dave Ramsey plan cause you know: You only live once.

But hell, I'm not dumb or crazy enough to purchase a $60k luxury item with no job, no health insurance, and 2 required not optional( boob job, maybe an ugly mole) surgeries.

A job is no guarantee as you already know. Surgery is no guarantee either. There's a chance of complications to everything. Only get the Bronco to flip!

 

[Bronc-O]

So let me get this straight...you're worried about burning through cash dealing with medical bills, but you're also advising him to just burn cash to buy a $60k vehicle instead?? The high of having that new Bronco in the driveway will quickly fade when the medical bills start rolling in.

A $60k vehicle is a luxury item. Healthcare and surgical costs should be the priority first. At this point, OP still has a ton of homework to do on COBRA, or some other means of healthcare to help offset all the surgical costs. Once that is secured, get the procedures done and wait to see how much all the bills will add up to. After the dust clears on all that, assess the finances and see if a Bronco still fits into the plan. I guess my advice is to just be patient and take care of the priorities one step at a time. The luxury item can wait...

Of course, we're all going to root for OP to find a new job in the meantime!

My feeling is if he spends the $60k on medical bills, it's more like a down payment on them. There will still be medical bills and no Bronco, possibly for quite some time. By the time he's financially on his feet, he may NEED a vehicle and have trouble getting good financing. Like it or not, they can't deny medical care and he can pay later.

 

[joeramirez]

Flip the Bronco. Invest the 20k profit and use the money earned plus the $20k as a down payment in a year.

 

[_finack]

My feeling is if he spends the $60k on medical bills, it's more like a down payment on them. There will still be medical bills and no Bronco, possibly for quite some time. By the time he's financially on his feet, he may NEED a vehicle and have trouble getting good financing. Like it or not, they can't deny medical care and he can pay later.

If transportation is the true need, maybe recommended buying a used Accord or something instead of a $60k Bronco.

 

[Bronc-O]

If transportation is the true need, maybe recommended buying a used Accord or something instead of a $60k Bronco.

Whatever works for every individual. It's hard to know all of the details of any particular situation and the wrong place to go for such advice. I'm simply stating what I'd do. Nobody has to like that or even agree.

 

[fraserjr]

Sooo…. here’s my last 30 days.

I’ve been saving money for a few years, waiting for the Bronco. (Started the moment I saw The Rock driving that prototype in “Rampage”). Anyway, I’d saved enough to pay cash for this bad boy (which will be here sometime in the next 10-14 days), and then this last month happened.

1) Got laid off (“COVID reasons” ).
2) Tore a ligament in my elbow at the gym.
3) In a freak coincidence, a week later I completely ruptured my ACL playing soccer with some friends. (Surgery is next Wednesday).

So, now uninsured, I am forced to pay for two surgeries. I can probably hold off on the elbow one since I can still function, albeit painfully, with the jacked up elbow, but the ACL is a must repair ASAP. As such, I’m unable to look for new work until I can walk again, which is at least a few weeks to a month+ out, and I’m having to use up a big chunk of my saved Bronco money to cover the surgery/rehab costs.

Sob story, I know. Boohoo, poor boy wants his $60k Bronco and life happens. I wouldn’t feel bad for me either. Nevertheless, I’m hoping for some suggested financing options for a guy in my situation? Probably none, I know, but it doesn’t hurt to ask.

I just picked up my Badlands from my dealer in Norther VA. I originally wasn't going to finance because I was going to pay cash and I figured the rates would be too high. However, they offered 1.84% on a 60 month loan with 10% down. So I figured I could make more on the cash and did it. No prepayment penalty so I can always pay it off in a month or two if I change my mind. The loan was through TD Bank. Good luck!

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