Average S550 monthly payment?

[wazslow]

no doubt. but you can get zero for 36 from some places too. Anyway as a durable consumer good with a rapid depreciation schedule, you shouldn't be financing any vehicle over 3-4 years anyway and definitely not over 5. If you can't swing the payments then you can't afford the vehicle and/or trim in question.

If people lived by that Ford (and everyone else) would have to SLASH the hell out of their F-150 pricing and other high-margin cash cows because nobody would be able to buy them. You'd have 90% of Mustangs being Ecoboost, and GT would be mostly 30x trim levels.

The >60 month term loan should have never been allowed to exist as a regulatory matter. But that would mean cripple people's ability to buy FAR beyond their means and we can't have that!

But you were replying to a post about 60 month loans. Who is giving 0% for 36 months?

You also stated you took out a 60 month loan. If it's so bad, why did you do it?

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[gimmie11s]

You'll never build wealth listening to that knot head. But you will build his by purchasing his course.



Hi I'm nobody. Nice to meet you. No doubt biden and the dims are wrecking things.

Some of you cash folks need to learn how to invest money in the market. Let me give you an example **this is not financial advice ... invest at your own risk ... do your own research blah blah blah**

If you take $50,000 and purchase 5889 shares (11/1 closing price) of CLM you would get a monthly dividend payout. For the rest of 2022 it would be $1060 a month and next year the proposed dividend rate percentage would mean $956 a month for 2023. Yes it's going down but the economy is pure shit right now.

My credit union is offering 2.89% on a new car 60 month purchase. That would be $900 a month in payments. I don't see how financing is bad in this scenario. Month 61 you're making money.

Preach

 

[RagmopInKona]

60 month or 72 month loans are not a bad thing. it allows those that have seasonal work or business to have lower payments in the lean months, and pay extra when they are busy. Or when winter hits and you have a huge heating bill and need a lower payment in those months. So a 60/72 is the way to go for that reason. some pay extra when they can, some don't the banks love those that don't.
Some need that flex option of a lower payment at parts of the year and this can be a product to do that.
Anyone that landscapes and then has to hope for snow in the winter, these are a needed product. That is just one example. Not everyone's business/job has steady income all year. and need wiggle room in the off season. Some are very narrow minded and can't think past their own nose.

 

[luc]

The real issue is that a bunch of people are using credit to live above their means
I often times see nice cars parked in front of run down mobile homes. Talk about screwed priorities

 

[Cory S]

The real issue is that a bunch of people are using credit to live above their means
I often times see nice cars parked in front of run down mobile homes. Talk about screwed priorities

American greed and the need to feel like you own something “Nice”………or “New”.

 

[Strokerswild]

The real issue is that a bunch of people are using credit to live above their means
I often times see nice cars parked in front of run down mobile homes. Talk about screwed priorities

I'd be willing to bet that a fair percentage of the folks I see driving late model vehicles live far above their means and carry a ton of debt. And save little to nothing.

 

[Cory S]

I'd be willing to bet that a fair percentage of the folks I see driving late model vehicles live far above their means and carry a ton of debt. And save little to nothing.

Guaranteed.

 

[luc]

I'd be willing to bet that a fair percentage of the folks I see driving late model vehicles live far above their means and carry a ton of debt. And save little to nothing.

For sure…even within my own group of friends, I must be the only one that don’t carry a balance on my credit cards….

 

[RagmopInKona]

For sure…even within my own group of friends, I must be the only one that don’t carry a balance on my credit cards….

Only reason I have and use c/cards is for the points, and X% cash back. Learned the hard way when I was much younger the dangers of carrying a balance. now, I have the money in hand before I use the card to buy something, and then pay it in full.

 

[shogun32]

You also stated you took out a 60 month loan. If it's so bad, why did you do it?

because the bank (Ford Credit) is behaving stupidly. I get to borrow money at FAR below inflation rate. Hell I doubt they can even finance the money they are lending me at 2.9, their loan basis is probably higher than that. What's the fed funds rate today? 4%? So Ford Credit is probably LOSING money just writing the loan. And that's completely ignoring the fact that each dollar I pay back every *month* is worth LESS than it is today by 0.7%.

I took the 5yr because the cost was only $2633. I did the 0%@36 thing for my '19 GT with a $1000/mo payment and I didn't feel like doing that again. The monthly 'payment' amount is simply a hedge - if my finances were to be impacted, I might have some other more important use for the $400. And anyway I can earn returns on that extra $400.

If the mood strikes I can throw in a quarterly or periodic lump sum - say the dividends thrown off from investing that 400x12=$4800 in CLM stock. 550 shares at $8.5 paying 18 cents each month in dividend pencils out to $1188/yr. My interest expense (averaged) was only 560/yr. So by NOT choosing the 0% I made $400'ish I would not otherwise have. Now maybe by the time I realize those $400 in gains that'll only buy me a loaf of bread...

At the end of the day, how often do you get to buy a Brittany blue Ecoboost Coastal package with white (p)leather seats and do it with money printed out of thin air?

 

[Andy13186]

636 0% interest rate starting in 2018 still owe 14k

 

[shogun32]

For sure…even within my own group of friends, I must be the only one that don’t carry a balance on my credit cards….

I "carry" 10-25k on CC but it's at 0% (3% up front) and I do something else with the money for the 15-18 months that not only covers the finance charge but also nets me additional. When the free money period is over I liquidate and pay it all back. Or roll it. Whatever. I'm happy giving the bank their initial 3% so I can play with their money for over a year.

 

[luc]

because the bank (Ford Credit) is behaving stupidly. I get to borrow money at FAR below inflation rate. Hell I doubt they can even finance the money they are lending me at 2.9, their loan basis is probably higher than that. What's the fed funds rate today? 4%? So Ford Credit is probably LOSING money just writing the loan. And that's completely ignoring the fact that each dollar I pay back every *month* is worth LESS than it is today by 0.7%.

I took the 5yr because the cost was only $2633. I did the 0%@36 thing for my '19 GT with a $1000/mo payment and I didn't feel like doing that again. The monthly 'payment' amount is simply a hedge - if my finances were to be impacted, I might have some other more important use for the $400. And anyway I can earn returns on that extra $400.

If the mood strikes I can throw in a quarterly or periodic lump sum - say the dividends thrown off from investing that 400x12=$4800 in CLM stock. 550 shares at $8.5 paying 18 cents each month in dividend pencils out to $1188/yr. My interest expense (averaged) was only 560/yr. So by NOT choosing the 0% I made $400'ish I would not otherwise have. Now maybe by the time I realize those $400 in gains that'll only buy me a loaf of bread...

At the end of the day, how often do you get to buy a Brittany blue Ecoboost Coastal package with white (p)leather seats and do it with money printed out of thin air?

Lots of bs to cover the fact that you didn’t have the liquidity to pay cash
What you paid back every month is only worth 0.7% less IF your income increased by the same value, otherwise no difference
Also your clm stock lost 40% since the beginning of the year, so the money that you invested instead of paying cash costed you inflation+40% or you lost about 48% on your investment. Smart move

 

[luc]

I "carry" 10-25k on CC but it's at 0% (3% up front) and I do something else with the money for the 15-18 months that not only covers the finance charge but also nets me additional. When the free money period is over I liquidate and pay it all back. Or roll it. Whatever. I'm happy giving the bank their initial 3% so I can play with their money for over a year.

So you pay 3% to invest in clm stock that so far this year have lost 40% ?
Another very smart move

 

[shogun32]

So you pay 3% to invest in clm stock that so far this year have lost 40% ?
Another very smart move

I don't own a single share of CLM. Never heard of it before actually. I was just piggybacking on the earlier example.

And anyway I buy stocks with limit orders and have stop-loss trades in at all times. So no, I wouldn't be so stupid as to stay invested in a stock that went south by 40% and try to HODL.

I want to cash in most of my positions before the market went south. It was plain as the nose on Biden's face the US economy and the world was going to go into a giant sh*tter and the fun has just barely begun. I fully anticipate 1929 levels of fun this go around.

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