Whoa, Nellie! Avg monthly payment > $700.

[mountainbronco]

on June 17 I predicted this kind of development. It is less about the specific interest rate, or the specific monthly payment amount, but more about what this represents as a % of your monthly net earnings.

I am 63 and earned decent during my working career, but I have a hard time understanding what somebody needs to earn monthly, when the car payment is $ 700+, housing $ 2000+, food for say 2-3, $ 900+, plus healthcare insurance and some other essential insurance crap for another $ 1000+ - I mean, god what is your monthly salary/wages to do all this ?

https://www.bronco6g.com/forum/threads/adm-it-wont-stop.42057/page-5#post-1460227

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[Mpatient1]

Thank you very much for your reply, do you have a long term relationship with Publix and multiple financial instruments with them?

I've been banking there about 20 years, had a loan thru them on my current car that I paid off 2 years early, but that was 10 years ago. Their not even my main bank, but I do funnel my paychecks through them, as well as have my house payment auto withdrawn there (not through them), and maintain a small savings account. Decent income, same job 15 years, same house 9 years, and 800+ credit score....

The lady getting my info told me it could be a couple days for their underwriters to look at it, soon as I was off the phone and submitted the signed documents the system auto approved it lol.

 

[Beach_Bum]

The exact reason I worked nearly 1500hrs of OT last year. Walked in with a check from the bank.

I did the same (not work OT), but with the check. Easiest transaction ever. I was at the dealer's maybe a half hour at most after paperwork and vehicle orientation. I sold Spanish treasure - enough that it paid for my Bronco and still have $20K for my next down payment.

 

[SolarWizard]

The only vehicle ive ever financed is my gladiator and thats only because they gave me 0% for 36 months so it was a free credit booster.

 

[Carolina Jim]

I sold Spanish treasure - enough that it paid for my Bronco

is that a marijuana strain?

 

[RHeinz]

Inflation is a forever thing. Don’t expect any prices to come back down….

 

[Mountain Mike]

Hopefully my Bronco comes in this week. I'm looking to making my first and last payment when it gets here. My 16 yr old jeep is on its last legs.

 

[M4Madness]

A

The exact reason I worked nearly 1500hrs of OT last year. Walked in with a check from the bank.

And here I thought my 612 hours OT last year was a lot. LOL!

 

[Beach_Bum]

is that a marijuana strain?

No, actual Spanish treasure (gold and silver cob coinage) from shipwrecks. I had an extensive collection and a few pieces were sold direct to Taffi Fisher (daughter of Mel) to be featured in her private collection. They may be on display at the Mel Fisher Treasure Museum in Sebastian, FL.

 

[Jazer]

I dont like excess debt so I put down over 1/2. My Bronco payment hovers just over 300/month With a 2.5% interest rate. I cant imagine having a 7-800$ payment. It just seems so taxing to have a bill close to a mortgage payment.

 

[carrellslake]

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.

A small credit union near me. I arranged it back in March so it might be a little different now with rising interest rates. My credit score and income are pretty good so they didn’t mind. I only put 5k down on the Bronco.

Another credit union had 2% but they only went to 48 months.

 

[M4Madness]

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.

I've only been waiting 5 months and have already saved exactly $10K in my Bronco fund. This Bronco will be my first brand new vehicle, and I only decided to do that since my mortgage will be paid off this year.

 

[0ne]

A small credit union near me. I arranged it back in March so it might be a little different now with rising interest rates. My credit score and income are pretty good so they didn’t mind. I only put 5k down on the Bronco.

Another credit union had 2% but they only went to 48 months.

Thanks for your reply and info! Rates are much different now! The credit union I mentioned in my first reply just went up half a %point in the last week!

 

[Sherminiator]

Inflation is a forever thing. Don’t expect any prices to come back down….

Yeah it’s called deflation…that isn’t a good thing either.

Only upside is that hopefully pay increases at your job hopefully keeps up with inflation rates or you find a new job that gives you a 5-10% increase.

 

[Sherminiator]

I personally paid my old car off a year sooner then just stuff away what the payments where into savings for my next car. I had 25k for a down payment between selling my old car and savings for the Bronco. My car payment is only $425 month over six years and I’ll prob pay it off sooner then later.

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