Financing a Raptor

[Icecobra]

They can do eight years now on some cars because they will still be running after 8 years. Not all cars qualify for the mortgage your life plan but some do....

 

[Deleted member 12951]

They can do eight years now on some cars because they will still be running after 8 years. Not all cars qualify for the mortgage your life plan but some do....

IMHO and that is all it is, if you can't pay off a vehicle in 48 months, then you need to start looking for a vehicle in a lower price range or save up to put down a larger deposit. Hard to make that statement on a Raptor though, especially if we aren't 110% certain that they will be continuing to build them. Now I do loans for longer but ONLY if the interest rate doesn't change. Usually when you go over 60 months, the rate goes up but not always. I admit, I bought my wife a car with nothing down and borrowed $36k. No trade in because we gave her old SUV to my son. I got a 2.19% rate for 72 months for her BUT I am paying $750 per month to get that thing paid off in less than 4 years. Same thing with my Raptor, got a 60 month but figured out payments to get it done in 36 instead. If the interest is the same, it doesn't cost you anymore to do it that way. And if something bad happens with your financial life, you aren't stuck with a huge minimum payment forcing you to probably sell it. Most likely not saying anything that anyone doesn't already know....

 

[Wilson]

if id quit modding the dang thing

 

[BANE]

2014 SVT SE came out and I had to have it, but dident have the Coin so
January 2014
Bought 2014 SVT SE Tux Black Super Crew

MRSP: $68,000
Down payment: $13,000
Rate: 4%
Duration: 72mo
Payment permonth: $998.79

I will have it payed off in 48mo

 

[Deleted member 12951]

2014 SVT SE came out and I had to have it, but dident have the Coin so
January 2014
Bought 2014 SVT SE Tux Black Super Crew

MRSP: $68,000
Down payment: $13,000
Rate: 4%
Duration: 72mo
Payment permonth: $998.79

I will have it payed off in 48mo

You paid $68k? Mine fully loaded was $59,975 but I didn't pay that.
I have mine figured at $750 and pay off in 36.

 

[BANE]

You paid $68k? Mine fully loaded was $59,975 but I didn't pay that.
I have mine figured at $750 and pay off in 36.

taxes in

 

[CodeRed]

IMHO and that is all it is, if you can't pay off a vehicle in 48 months, then you need to start looking for a vehicle in a lower price range or save up to put down a larger deposit. Hard to make that statement on a Raptor though, especially if we aren't 110% certain that they will be continuing to build them. Now I do loans for longer but ONLY if the interest rate doesn't change. Usually when you go over 60 months, the rate goes up but not always. I admit, I bought my wife a car with nothing down and borrowed $36k. No trade in because we gave her old SUV to my son. I got a 2.19% rate for 72 months for her BUT I am paying $750 per month to get that thing paid off in less than 4 years. Same thing with my Raptor, got a 60 month but figured out payments to get it done in 36 instead. If the interest is the same, it doesn't cost you anymore to do it that way. And if something bad happens with your financial life, you aren't stuck with a huge minimum payment forcing you to probably sell it. Most likely not saying anything that anyone doesn't already know....

^ Very good advice for all of us!