Average S550 monthly payment?

[460Fred]

Anyone listen to Dave Ramsey much?
Payments=bad.

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[young at heart]

Anyone listen to Dave Ramsey much?
Payments=bad.

Maybe.

But an argument could be made that having payments are better than having mental issues caused by delaying gratification.

 

[VelR5.0GT]

I think is interesting how some believe a high monthly payment is not smart, but putting down thousands upon thousands or pay off full on the spot for a mustang is any better. The mustang will depreciate fairly quick (inflation will go down). I personally could have paid for mine on the spot, but I rather keep my hard earned money with me. Why drop all the money in a non-appreciating asset like a mustang is beyond me.

 

[Simplejack]

2019 GT350 $880/72@ 3.15%.
Could pay it off but I purchased property with my cash which has since doubled. High car payment works better for me.

 

[wjcook68]

We bought a used 2021 GT 5.0 Premium 401A with 9,000 miles. We overpaid but it was equipped exactly as the wife wanted. We put $35,000 down (sold her Jeep Wrangler) and have a note of $165 @ 4.49% for 72 months.

 

[shogun32]

'19 GT PP1 (36k OTD) zero down 0% for 36 = $1000/mo
paid off in 18 months

'19 EB PP1 (30K OTD) zero down 1% for 48 = 625/mo
sold before term was up - but was on track to pay off in 36

'20 F150 (48 OTD) zero down 2.9% for 72 = 660/mo
on track to pay off in <60 unless Koons Toyota wants to pay me stupid money for it.

 

[hlfbkd420]

Anyone listen to Dave Ramsey much?
Payments=bad.

not when your interest rate is 0%. I’m letting the bank eat the inflation on that one.

financed 62k. 2019 loaded premium GT with a roush p2 blower in the financing. 900$ mo

 

[Dharri21]

2022 GT500 CFTP POTS HE $1700 per month.

 

[shogun32]

Agreed. I'm just saying even if I made 300K a year, I wouldn't blow $1100+/month on a Mustang. Period.

you'd just "blow" it all at once by paying cash? Granted at >5% the cash option makes more sense. But at <3% and I can earn more in the market, then finance it to the hilt and let the capital earn me returns out of which I pay for the loan and a little extra if the mood strikes.

Now if you're no good at stock market or other assets, then playing interest arbitrage is probably not for you.

 

[Johnny_ynnhoJ]

Anyone listen to Dave Ramsey much?
Payments=bad.

Lol yep! Yet there's a benefit to payments w low APR, keeping some money in the bank.

 

[Cory S]

you'd just "blow" it all at once by paying cash? Granted at >5% the cash option makes more sense. But at <3% and I can earn more in the market, then finance it to the hilt and let the capital earn me returns out of which I pay for the loan and a little extra if the mood strikes.

Now if you're no good at stock market or other assets, then playing interest arbitrage is probably not for you.

Fact is. More money down = more instant equity, zero gap, and super low payment. If purchasing, the most money down beats any other option period. I don’t care if it’s 0% APR, dragging a vehicle loan on for 6-7 years will still oppose a higher risk (mostly depreciation) than any other financial decision.

 

[shogun32]

don’t care if it’s 0% APR, dragging a vehicle loan on for 6-7 years will still oppose a higher risk (mostly depreciation) than any other financial decision.

Have you actually crunched the numbers? Even if you ignore the inflation rate which is WELL over 8pct currently, at less than 3 the bank is eating inflation too. You make money during the purchase. If you're not AT LEAST right side up on the deal within the first 6 mo them you over paid. With any luck you should have crammed 15pct depreciation up the dealers arse before the car even rolled off the lot.

If you want to burn cash up front then put enough down to be equity positive when leaving the lot.

 

[_zOmbIE_]

Lots of differing opinions on this in here, but if common sense had anything to do with my purchase, I wouldn't have a Mustang in my garage.

 

[mustang810]

Lots of differing opinions on this in here, but if common sense had anything to do with my purchase, I wouldn't have a Mustang in my garage.

I have had plenty of practical vehicles in my life. And I have wasted god knows how many thousands modifying vehicles that weren't meant to go fast including a 450hp Ford Edge Sport. I can't even give a good reason as to why I tried that. At least the Mustang was meant to go fast. I never was really known for common sense. lol. I need something that puts a smile on my face. There are a million better uses for my money than buying a new Mustang. But it makes life fun.

 

[04mazdaspeed]

2022 mach 1
61k
11k down
4.1 interest
2,200/month for 24 months

Most Likely will double that payment to have it paid off in a year.

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