Whoa, Nellie! Avg monthly payment > $700.

Mpatient1

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Where on earth did you get 2.5% on a 72 month term with little/no down? One of the best credit unions in my area is 3.85% best rate for 72 month with strong LTV down payment. 🤔
I'm sitting on $46,000 at 2.750% for 84 months with 0 down from my credit union, Publix. Ford just needs to deliver my Bronco in the next month and a half (built and "shipped" just waiting for it to arrive via convoy at SAC)

Now I plan to put more principle each payment and get it paid off a lot sooner, but I like the idea of a smaller monthly in case something comes up and I need a little more cash on hand.
 
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Carolina Jim

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kodiakisland

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Ground_zero298

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lol....smart money says we're no where near the 'end'
Wait to the holidays. And I believe you’re correct. Thinking 2 years for a rebound after most lose everything.
 

0ne

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I'm sitting on $46,000 at 2.750% for 84 months with 0 down from my credit union, Publix. Ford just needs to deliver my Bronco in the next month and a half (built and "shipped" just waiting for it to arrive via convoy at SAC)

Now I plan to put more principle each payment and get it paid off a lot sooner, but I like the idea of a smaller monthly in case something comes up and I need a little more cash on hand.
Thank you very much for your reply, do you have a long term relationship with Publix and multiple financial instruments with them?
 

rtazz17

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The average monthly car payment crossed $700 a month earlier this year, the highest on record, according to Cox Automotive/Moody's Analytics.

"I joke with people that every new car purchase is a luxury car purchase, I don't care what you're buying," says Ivan Drury, senior manager of insights at the car buying expert Edmunds. The average cost of a new car is hovering at the highest level on record, topping $47,000 a pop.

Drury says get used to these prices: "We're not going to see a sudden drop-off in price anytime soon, because there doesn't seem to be any resolution for the chip crisis."

Will this put a damper on the market?
The market is going to slow on everything. Interest rates are sky rocketing to cool inflation. Jobs are going to be lost very soon,recession is starting. Everything is going to nose dive except the very rich. Middle class will be hit hard. So yes this will absolutely cool the market in a few months. Probably see many people backing out of accepting Broncoswhen they arrive. Its bleak.
 

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Mountain Mike

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A lot of people have been waiting 18-24 months. If they don't have $10,000 to put down after that period of time I would have questions. My grandson tells me what crazy car he's gonna buy when he's old enough and I tell him that after you pay off your house then buy your dream car.
 

rtazz17

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Adjust that $700 for inflation and it’s probably not that out of line with modern day averages.
Yes and no. Normal inflation isnt 8-9%. Pay increases are no wheres near that.
 

rtazz17

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A lot of people have been waiting 18-24 months. If they don't have $10,000 to put down after that period of time I would have questions. My grandson tells me what crazy car he's gonna buy when he's old enough and I tell him that after you pay off your house then buy your dream car.
Well,if your normal everyday bills increase 1000 a month its very hard to save now. Many people are going backwards at the moment.
 

rtazz17

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Texas Sunshine

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I ordered a Base Bronco w/manual transmission. My current vehicle is paid for and I will have about 20K from the sale of that vehicle to put on my 31K Bronco. I'll have approximately a 12k loan w/$220 car payment that I will most likely pay off early. I don't like debt.
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