Who are you using for financing?

I don’t usually finance vehicles either. I also keep them for at least 10 years. Kept my last f150 almost 17. With this one, I will if I can get a 3.5 or lower but that looks pretty unlikely.
I currently drive a 2000 F150 that I purchased over 15 years ago. I haven't had a payment in a loooong time. But I think I'm going to start trading in every 3-4 years.
 
I currently drive a 2000 F150 that I purchased over 15 years ago. I haven't had a payment in a loooong time. But I think I'm going to start trading in every 3-4 years.
I understand, owned my last vehicle 16 years. Not having a car payment is serious freedom. Assuming nothing goes catastrophic on this F150 Tremor i plan to keep it at least 10 years. I financed half of the purchase for 5 years.

Personally i think financing a vehicle is fine as long as you maintain it (and insure it obviously). If i had to sell the truck and pay off the loan tomorrow i could. But like others on this forum felt i could invest that money and do better (i am a long term investor not day trader). Market is pretty low right now, i suspect if you bought today and held for 10 years you would come out way ahead. But i could be wrong.
 
I currently drive a 2000 F150 that I purchased over 15 years ago. I haven't had a payment in a loooong time. But I think I'm going to start trading in every 3-4 years.
Since I’m not a 1%’r I believe you either have car payments or car problems. If you have both, you’re totally screwed. That’s why I trade every 3-4 years, always have the latest and greatest under warranty. If I get bored with the vehicle or don’t like it, it‘s gone.
 
Since I’m not a 1%’r I believe you either have car payments or car problems. If you have both, you’re totally screwed. That’s why I trade every 3-4 years, always have the latest and greatest under warranty. If I get bored with the vehicle or don’t like it, it‘s gone.
I agree with that philosophy, last car I had was ultra reliable nothing major wrong in 15 years (10 yrs payment free). At year 16 started having expensive issues.

Unfortunately for me Covid meant I couldn’t go buy a replacement (used cars cost more than new) so I had to scramble/repair it for 8 months waiting on a new car. I’ll sell/trade this one out earlier so I don’t get caught in limbo waiting 8 months on a replacement ever again.
 
What Credit Union is that if you don't mind me asking?
It's a small fcu out of central jersey. I'd rather not share their name as they only service local customers. If you really do your research, you can find a little hidden gem like these guys in your area. Keep shopping.
 
The finance rates have changed so much this year it's crazy. When I ordered mine last October my credit union was doing 1.99%. Buy the time the truck came it was at 3.24% (July). My brother bought his Raptor one month later and it was 4.24% All at the same credit union. Today it's 5.99% for six years or less. 7 years is 6.74% and 8 if you have to at 8.49%. I remember paying 11.9% for my very first new truck I ever bought with no credit history. It's getting closer to that rate for people with 850 credit scores.
 
It's a small fcu out of central jersey. I'd rather not share their name as they only service local customers. If you really do your research, you can find a little hidden gem like these guys in your area. Keep shopping.
That's not very cash money of you dude.
 
Since I’m not a 1%’r I believe you either have car payments or car problems. If you have both, you’re totally screwed. That’s why I trade every 3-4 years, always have the latest and greatest under warranty. If I get bored with the vehicle or don’t like it, it‘s gone.
Bingo. Same here. And depending on what you have and when you sell, you might not lose anything. My last (fun) car was a 2021 Supra 3.0 that I picked up in April 2021. I liked it, but the cabin was just too small for a guy my size. I sold it to Carvana in August 2022 for $3500 MORE than what I paid for it. We did something very similar with my wife's Gladiator. Traded it in for slightly more than we paid when we picked up her Audi Q5.
 
According to my money guy, 3.5 rate is my break-even. I would prefer to finance but Ford told me today the Tremor doesn’t have any special rates and to expect 4 or higher. Credit unions around me are in the 5’s.
 
Just a thought from a buddy, he suggested just doing a 2/3 year lease and wait for rates to come down then purchase the vehicle. just a thought though
 
Just a thought from a buddy, he suggested just doing a 2/3 year lease and wait for rates to come down then purchase the vehicle. just a thought though
I can never make the numbers work to long term rent a personal vehicle.
 
You already got this, on a Tremor?

We've typically always been excluded from Ford financing incentives.

e.g. -
View attachment 13027
EDIT: This specific language is for retail stock, but has been similar for orders; curious if it has changed

That's what I had thought too, I confirmed with my sales guy and 2.9 still stands for me. Maybe its just the dealership I am going through that's running the special?
 
I manage a Ford Dealership, and was doing the math on paying cash vs financing.

$50,000 (used good round number) Auto Loan on 60month term on 5.50 rate $7,303 in interest paid

Take the same $50,000 and invest in a 60 month CD at 4.25% get a return of $11,567

So that is $4,264 profit for the investor...... So why on earth pay cash?
 
I manage a Ford Dealership, and was doing the math on paying cash vs financing.

$50,000 (used good round number) Auto Loan on 60month term on 5.50 rate $7,303 in interest paid

Take the same $50,000 and invest in a 60 month CD at 4.25% get a return of $11,567

So that is $4,264 profit for the investor...... So why on earth pay cash?
If less than a thousand dollars a year makes a difference in your world you probably shouldn’t be buying a $50 truck that’ll be worth half than in that 60 month period
 
If less than a thousand dollars a year makes a difference in your world you probably shouldn’t be buying a $50 truck that’ll be worth half than in that 60 month period
I have the CD and no payment, but I am saying it makes perfect sense to invest right now
 
It's a great time to invest right now with the markets being in a lull. But God damn if it isn't discouraging when I log in to view my 401k and Roth. 🤣
The trick it to never look at it, haha.
 

New Topics

Back
Top