Whoa, Nellie! Avg monthly payment > $700.

[Mountain Mike]

Anyone who is struggling right now could sell their Bronco and make 5-10K. Save that money and buy another one in 6 months to a year. There's probably gonna be a lot for sale then at really good prices when this thing hits for real. Just a thought.

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[old goat]

I read all 8 pages and from what I gather most of you are over 50 and retired! Congrats!

YUP ! 67yo , retired, wife retired , no debt , no CC payments, house paid off 15 years ago , vehicles paid for ( 2012 Camry , 2020 Colorado ) . Ready for new bronco toy

 

[BroncoAZ]

I read all 8 pages and from what I gather most of you are over 50 and retired! Congrats!

Nope, 45 and working 50-55 hours per week at a salary job.

I didn’t get my shit together financially until 30 and out of debt until I was 36, until then I was a zero down 72 month loan buying beyond my means kind of guy. From 30-36 I paid off $120K worth of stupid debt, then in 2013 I was finally able to afford to pay off a truck loan early and start fully funding our retirement accounts. She paid off law school in 2015. Since then we’ve been big down payment or cheap lease on cars and otherwise debt free except for the house. I bought my boat for $28K cash last year, but took a loan on my $47K Bronco at 1.99%, with inflation at 8%+ I think that loan was a good call.

 

[Jon_chimpo]

M wife and I have a pretty nice household income. We are frugal, both drive nicer 5yr + used cars we pay cash for. I wanted a basesquatch, wife talked me into a loaded BL. For the first time I actually want to buy a new bronco, well, I’d prefer to buy it used, but…. I’ll be selling my full size bow tie truck, and placing roughly 30-40k down in order to pay it off with a goal of 18 months. I’m 40 next month.
I hope the rest of you are able to pay it off quickly.

 

[BroncoAZ]

Anyone who is struggling right now could sell their Bronco and make 5-10K. Save that money and buy another one in 6 months to a year. There's probably gonna be a lot for sale then at really good prices when this thing hits for real. Just a thought.

That profit ship has sailed. Someone might be able to break even selling a recently purchased Bronco (Raptor excluded), but netting $5-10K over the out the door price isn’t happening. I put mine up for sale in January, the best offer I received was $5K net profit, I decided to keep it. If someone wants to cash me out on mine with 350 miles on it for a $10K net profit they are welcome to buy it. I love it, but I can wait for another.

 

[mamamoose]

My Expedition has a 34 gallon tank. It's awesome. I can fill up in Yuma, drive to San Diego, drive back, and not once buy gas at California prices.

Who cares if it costs twice as much to fill up when you only fill it half as often? That's the one thing that is truely going to really suck about my Bronco if Ford ever builds it, the itty bitty tiny-ass 16.9 gallon tank.

Does your expedition get at least 10 miles to the gallon? My Bronco gets between 20 and 21 mpg.

 

[ex_nyer]

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


It's crazy, I decided to finance my Bronco on a 2% loan and it's over a $ 1,000 / month! The math is simple but scary $ 60k / 60 months ... ughhhh

 

[Saw4Fire]

My monthly payment is $674 for a 72-month $45k loan. I chose to do that because the interest rate is 2.5%, so it’s only costing me $3500 in interest over 6 years.

I would rather invest the money I could have put toward the down payment. Obviously the last three months are not great, but I believe it is the better decision in the long run.

You might want to look at the Japanese stock market history. The Nikkei 225 peaked just under 40,000 on the last trading day of 1989. Over thirty years later, it STILL has not exceeded that peak. Stocks do not always go up in the long term.

 

[hozer]

This forum is full of 3 things.

1. a disproportionate number of people netting 6 figures per year
2. Liars
3. People who bought way outta their price range

Also for all the economists on here, way to many people put way too much down. If ya knew a crash was coming take the 1.9% loan for some free money

 

[Bullitt]

Bought it as a retirement gift to myself. Retired from the Air Force back in 2007 and about to retire from the Air Force again (civil service) in a few months. After 37 years of service, I'm looking forward to being off the clock. I've never ordered a new vehicle in my life, so this has been quite the experience. Plan on visiting many National Parks, camping, fishing, hiking in retirement.

Happy 4th of July to everyone. God bless.

 

[GotWake]

This forum is full of 3 things.

1. a disproportionate number of people netting 6 figures per year
2. Liars
3. People who bought way outta their price range

Also for all the economists on here, way to many people put way too much down. If ya knew a crash was coming take the 1.9% loan for some free money

Don‘t be mad because some of us have our sh$t together.

 

[hozer]

Don‘t be mad because some of us have our sh$t together.

0 Salt.

I got mine @ 1.49% for 8 years back in September. That loan already may as well be 0%

I was only goofing on people saving a 50% down payment with sub 2% rates... Like it just not smart

 

[Jon_chimpo]

0 Salt.

I got mine @ 1.49% for 8 years back in September. That loan already may as well be 0%

I was only goofing on people saving a 50% down payment with sub 2% rates... Like it just not smart

I’ve known a lot of dudes that were the smartest men in the room. They played the interest rate borrowing game with vehicles, lost a job, or had an unexpected expense come up. First thing to go is an over-leveraged vehicle payment. Y’allliving on borrowed money better not stub your toe wrong, or it could all come crashing down. But, to each their own.

 

[pimpjuice]

I'm probably not helping.
I pay $1200 a month for my Bronco.

I was going to buy mine cash but the interest rate was so low (1.75% penfed), it made since to finance. To get that rate I had to do a 3 year term. I put $10k down on my credit card for points (the most the dealership would allow on a CC and I paid it off immediately). Actually monthly payments is just over $1000 but I pay extra just to get over with a bit sooner.

 

[JerryC]

Well, damn. I have two $700 a month car payments. I planned to trade one of those for a roughly $1000 a month payment on the Bronco, should it ever be built.

Rising interest rates are very likely to take that monthly payment beyond my pain point.

My wife is deathly afraid of being stranded by an old car so we've had two new vehicles for some time now. If a vehicle shows a sign of trouble, it gets traded in.

How do we afford that? We aren't big on a lot things others covet like fancy clothes, jewelry, fancy furniture or lavish vacations.

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