What was your out there door price, down payment, monthly

[CantBstill]

Just curious those who have been lucky and are enjoying their new bronco. What was your out the door price, what did you put down, and what is your monthly? And also how bad is your insurance a month?

cheers !

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[Rahkmalla]

Don't have one yet but my pricing is in place. 29995 plus tax, tags, 499 doc. All down no finance. Insurance is the same as my wife's 2020 Rav4 Hybrid XSE (39500 msrp on that one, but she's considered the safer driver even though we have the same abstract because women are cheaper to insure). May reconsider my build if 2dr base mansquatch becomes a reality.

 

[WuNgUn]

$65,000 (MSRP), 84 month term, 4.49%, $4000 down and trade in, about $1000 a month.

 

[Rahkmalla]

$65,000 (MSRP), 84 month term, 4.49%, $4000 down and trade in, about $1000 a month.

This might come off as rude but I'm honestly just inquisitive. Based off the numbers you posted you're financing 72k on a 65k vehicle. Unless you live in Puerto Rico that extra can't be all tax and tags (especially with trade tax benefits) so obviously you're rolling over debt from your trade. If you're already underwater in your current car, why would you finance for 7 years? By the time you trade in your bronco you'll probably still be underwater and you'll be rolling some debt from your previous vehicle into your bronco and on to your next car.

So here's the question: what do you do that you can afford a 1k car payment but can't afford to put more than 4k down and can't afford to finance for less than 7 years. If you pay this car off, you'll have paid 88k for a 65k car.

It's been a decade but when I was a Ford salesman I used to tell people if you can't afford a car in 5 years then you can't afford it. I was not a great salesman, but I never put someone in a car they couldn't afford.

 

[Mango&Moose]

Lots of data mining threads lately.

 

[WuNgUn]

This might come off as rude but I'm honestly just inquisitive. Based off the numbers you posted you're financing 72k on a 65k vehicle. Unless you live in Puerto Rico that extra can't be all tax and tags (especially with trade tax benefits) so obviously you're rolling over debt from your trade. If you're already underwater in your current car, why would you finance for 7 years? By the time you trade in your bronco you'll probably still be underwater and you'll be rolling some debt from your previous vehicle into your bronco and on to your next car.

So here's the question: what do you do that you can afford a 1k car payment but can't afford to put more than 4k down and can't afford to finance for less than 7 years. If you pay this car off, you'll have paid 88k for a 65k car.

It's been a decade but when I was a Ford salesman I used to tell people if you can't afford a car in 5 years then you can't afford it. I was not a great salesman, but I never put someone in a car they couldn't afford.

Would you believe 13% sales tax? Uh huh... About $8500 without trade.
I'll be rolling in $3 or $4k from my current vehicle, yes...
Bad financial plan? You bet! Do I give a shit to have a chance to owe my dream vehicle? Not really...
As to the monthly payment. Paying down bi-weekly saves quite a bit in interest. Also, I rent... And rent is cheap.
I could sell my current vehicle next spring for maybe even cash... But with the Bronco delays and the hassle of dealing with buyers/trying to rine it, it's easier to sell it wholesale to the dealer.
Edit: forgot part of your question... It may make a lot of sense to put more down on it and finance less, but I also sock away $1000 a month for retirement/investments. $6500 a yr goes to a TFSA. So, the idea is to earn more investment income per year than what I would otherwise on less principle per yr, but am losing out on financing more capital in the Bronco purchase...
I hope I worded that right that it makes sense! Lol
Last year I earned 27% tax free in my self directed TFSA, and the year before that 38%. Of course, it isn't always gonna be that way
But being 15 years from retirement, this makes the best sense to me.
Obviously, the better financial plan would be to NOT buy a Bronco, but ain't nobody gonna talk me outta that. Lol

 

[FlyingBronco]

Would you believe 13% sales tax? Uh huh... About $8500 without trade.
I'll be rolling in $3 or $4k from my current vehicle, yes...
Bad financial plan? You bet! Do I give a shit to have a chance to owe my dream vehicle? Not really...
As to the monthly payment. Paying down bi-weekly saves quite a bit in interest. Also, I rent... And rent is cheap.
I could sell my current vehicle next spring for maybe even cash... But with the Bronco delays and the hassle of dealing with buyers/trying to rine it, it's easier to sell it wholesale to the dealer.

I see you are from Canada, so 13% is not entirely surprising. Especially with programs like “free” medical care. Not sure if your govt gives anything else away but nothing is actually free.

 

[WuNgUn]

I see you are from Canada, so 13% is not entirely surprising. Especially with programs like “free” medical care. Not sure if your govt gives anything else away but nothing is actually free.

Correct... Yes, nothing is for free. But a liberal government will try to make you believe that!

 

[Southern Girl]

I would say not to answer this question on a public forum. Seems like people could get a little too much personal information to use.

 

[ZackDanger]

I see you are from Canada, so 13% is not entirely surprising. Especially with programs like “free” medical care. Not sure if your govt gives anything else away but nothing is actually free.

If I didn’t have to pay private health insurance premiums every month, I’d comfortably have $1,000 for a car payment.

It’s all relative.

 

[Mango&Moose]

Nothing is free.

Somehow, someone paid for it with either time, effort, or money.

 

[WuNgUn]

If I didn’t have to pay private health insurance premiums every month, I’d comfortably have $1,000 for a car payment.

It’s all relative.

Curious, how much does insurance premiums cost you guys down south?
I was under the impression that a good employer would cover most if nit all of those premiums?

 

[Roderick23]

51k msrp plus 5k dealer markup. After taxes fees reg. Etc total 61k I put 5k down so the notes for 56k at 3.99 over 84 months. About 770ish./month Insurance is 1050 for the year. (It’s not my daily driver). Also why I’m comfortable with 84 months as I plan to only put a few thousand miles a year on it. If that.

 

[Jelly81Raider]

Just curious those who have been lucky and are enjoying their new bronco. What was your out the door price, what did you put down, and what is your monthly? And also how bad is your insurance a month?

cheers !

Insurance cost went down $50/yr from what I was paying for my ‘13 Fusion.

 

[ZackDanger]

Curious, how much does insurance premiums cost you guys down south?
I was under the impression that a good employer would cover most if nit all of those premiums?

Typical in my neck of the woods is 70/30… in that the employer pays 70% of the premiums, the employee 30%.

But it’s sooooo expensive, for a family plan it’s possible to still be paying almost $900/month out of pocket.

Single person plans are about $300-$400 a month out of pocket. Two person $600-$800.

And then on top of that we still have co-pays and deductibles. So a trip to the ED still costs $500 (on a good plan) out of pocket… and for medical expenses in general, the individual is expected to pay the first $3,000 for the year, and then insurance picks up the rest after that.

(all these are variables though… the employer negotiates packages with an insurance company, and then the employee may get a choice of those… so some might have very low premiums but huge deductibles, and another vice versa… it could be possible to get a dirt cheap plan that like covers only ER visits after a $2000 deductible, but not whatever medication you need to take… or maybe you pay huge sums of money every month, but will never have a balance on a medical bill)

And insurance only works assuming they don’t deny the claim because the hospital you were taken to, or the specialist you needed, was “out of network.”

This is why people go bankrupt in the US from medical expenses… our child was stillborn the year and the bill was over $20,000. We were fortunate enough to be able to pay the $3,000 out of pocket for the experience, with insurance picking up the rest… but if a person doesn’t have insurance because they are already in a low wage job, that $20,000 bill could mean the end of everything for them…

In the United States, you are provided an education through High School. You are are provided legal defense if charged with a crime. You are provided a voice in how you are governed through your right to vote… but if you get sick or injured, even if it’s not your fault, you’re totally on your own and at the mercy of private companies.

I’d much rather pay steeply for “luxury” items (like automobiles) than saddle everyone with gigantic bills for things they don’t have a choice about… but that’s just my opinion.

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