2017 F250 Superduty

milehighassassin · Jun 29, 2016

Mafesto said:
You seem like you would have a good fico score, I would imagine you could get around 3% money.
That new truck is going to go up 5-6% each year you waste saving.
So basically you are losing money trying to save up for this purchase.
(providing that the payments do not put you in a bind)

Trucks are not going up 5% a year. But yes, with interest rates so low unless you just don't like big payments I'd finance 100% of the truck and use any savings to assist with making the payments if needed.

No reason you can't see 2.58% @ 60 months, 2.89% @ 72, 3.39% at 84.

I'd generally avoid an 84 month loan. I'd also buy GAP insurance if you do that.

Dartos · Jun 29, 2016

milehighassassin said:
.... But yes, with interest rates so low unless you just don't like big payments I'd finance 100% of the truck and use any savings to assist with making the payments if needed.

No reason you can't see 2.58% @ 60 months, 2.89% @ 72, 3.39% at 84.

If you finance $75,000 @ 2.5% that is still $5,000 in interest over a 5 year loan with a $1331.05 payment.

NorthMNSledder · Jun 29, 2016

Dartos said:
If you finance $75,000 @ 2.5% that is still $5,000 in interest over a 5 year loan with a $1331.05 payment.

:face-icon-small-sho:face-icon-small-sho:face-icon-small-sho:face-icon-small-sho:face-icon-small-sho

mountainhorse · Jun 29, 2016

Shiza!

Snowmow · Jun 29, 2016

mountainhorse said:
Shiza!

That's Spanish for poo poo. For those you don't know foriegn languages.

slash · Jun 29, 2016

FOR SALE black HD edition F150 122K just needs heads already spent 3500.00 fixin the stuff to make it safe to drive OWNER IS DONE WITH FORDS

christopher · Jun 29, 2016

Dartos said:
If you finance $75,000 @ 2.5% that is still $5,000 in interest over a 5 year loan with a $1331.05 payment.

Who in their right mind spends that kind of money on monthly car payments?

Snowmow · Jun 29, 2016

slash said:
FOR SALE black HD edition F150 122K just needs heads already spent 3500.00 fixin the stuff to make it safe to drive OWNER IS DONE WITH FORDS

Smart man.

Mafesto · Jun 29, 2016

Dartos said:
If you finance $75,000 @ 2.5% that is still $5,000 in interest over a 5 year loan with a $1331.05 payment.

That's peanuts compared to the price increase over that same 5 year period

Mafesto · Jun 29, 2016

christopher said:
Who in their right mind spends that kind of money on monthly car payments?

One could also ask who would squander their nest egg on a vehicle?

Monthly payment or savings.... a dollar is a dollar.

Snowmow · Jun 29, 2016

Mafesto said:
One could also ask who would squander their nest egg on a vehicle?

Monthly payment or savings.... a dollar is a dollar.

Bingo!!! And at 2.5% on the note. You have a real decision to make.

05900 · Jun 29, 2016

2016 Alfa Romeo 4C $67,495 / 2.5 @ 60 = 1197.85 + 133.20

2016 Chevrolet SS $48,870/ 2.5@60 = 867.31 + 463.74
2016 Chevrolet Camaro SS / 2.5 @ 60 = 874.85 + 456.05

2016 Dodge Challenger HellCat $67,117 / 2.5@60 =1191.14 + 136.91

2016 Ford Mustang GT 350 $51,169 / 2.5@60 = 908.66 + 422.00

2017 Jaguar F-TYPE Coupe SVR AWD $125,832 = uhhh nooo

2016 Lexus RC F $63,755 , 1131.48 + 200

2016 Mercedes-Benz SLK AMG SLK55 $73,525, 1304.87 + 26 !!!

Think the ol' truck will just have to hang around

Snowmow · Jun 29, 2016

Well if you have $50k laying around that you wanna blow on a GD ford. Then what's stopping you? I'm just taking about the wise decision on when to finance and not.

christopher · Jun 29, 2016

Snowmow said:
Well if you have $50k laying around that you wanna blow on a GD ford. Then what's stopping you? I'm just taking about the wise decision on when to finance and not.

I am just talking about making a HOUSE payment for a truck.

tadder52 · Jun 30, 2016

christopher said:
I am just talking about making a HOUSE payment for a truck.

......uhhh. That's twice my house payment for a truck...............

Snowmow · Jun 30, 2016

Money is money boys. Don't deceive yourselves. Just because it's broken into monthly payments or paid in a lump sum. It is what it is.

05900 · Jun 30, 2016

christopher said:
I am just talking about making a HOUSE payment for a truck.

House payment..hahahahahahhhaaaa I wish! RENT is more than that:face-icon-small-dis

christopher · Jun 30, 2016

Snowmow said:
Money is money boys. Don't deceive yourselves. Just because it's broken into monthly payments or paid in a lump sum. It is what it is.

There IS a difference...

“It is a rule . . . in all the world that interest is to be paid on borrowed money. May I say something about interest?

Interest never sleeps nor sickens nor dies;
it never goes to the hospital;
it works on Sundays and holidays;
it never takes a vacation;
it never visits nor travels . .

. it has no love, no sympathy;
it is as hard and soulless as a granite cliff.

Once in debt, interest is your companion every minute of the day and night; you cannot shun it or slip away from it;
you cannot dismiss it;
it yields neither to entreaties, demands nor orders;
and whenever you get in its way or cross its course or fail to meet its demands, it crushes you.”

This is why there IS a difference between paying for that new truck with CASH or with DEBT.
Yes, the interest rates are VERY LOW right now, but we have simply grown accustomed to paying Usery for everything we buy. I have been totally DEBT FREE for the last 10 years. Yesterday I signed a note for a mortgage on our house and I am once again DEEPLY in debt and it will take me many years to climb back out again, but in the meantime I owe no one anything other than on my mortgage, and I have 50% equity in the house already from a massive down payment.

mountainhorse · Jun 30, 2016

Going old-school with the LDS quotes!!

Mafesto · Jun 30, 2016

All I know is that if my customers followed that philosophy, my toy buying days would be OVER!!!

I have not been debt free since I was 15 (and 22.9% interest) and have never lost sleep due to debt.
Debt has allowed me to enjoy the things in life I wanted to enjoy, at the time that I wanted to.
I seldom spent time on the sidelines wishing.
In fact I honestly believe a constant debt hanging over my head helped form my work ethic as I understood early on that more work equaled more playing.

I see many clowns who have zero initiative to work over 40 hours, and my reply is "that f__ker needs more debt"!

"If you're not in the hole, there's no reason to dig"

Yes my fellow snowesters, that's right, debt is your friend!

2017 F250 Superduty

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