Guess I'm waiting for awhile..

[Littlefx4]

Lol. What an elitist point of view. There are tons of people that finance trucks and boats and toys and make the monthly payments as they fit into their budget while still allowing them to put more money in savings. If that is fiscally irresponsible in your eyes, then it sounds like you were raised with more money than sense.

In my mind if people can finance, make all the payments on time, pay all their other bills on time, and still save, they are doing just fine.

By the comments, my guess is money over sense. Everybody ain’t got it like you Baylor…big money big money, no whammies!

 

[BalorGrayJax]

View attachment 316868
and I've known many upon many wealthy people that finance an 80k toy... but thats ok you continue on with your everyone here that finances something is poor. I'll enjoy being poor in my new raptor.

No.. you don't know anyone actually wealthy, and this is now abundantly clear. I don't tell people what to do, people do what they want and can make choices that have lasting consequences. It doesn't bother me a bit. What does bother me though are people like you who talk as if they have a clue about finance, money, or the world in general. You don't. You can make your own bad decisions, but don't preach it to others to make poor decisions as well that are nonsensical and dangerous. Enjoy being poor in your Raptor.

 

[BalorGrayJax]

I don’t have a dog in this fight but I do have to ask…did you pay for your house in cash? Dumb question, I know…of course you did going by your logic above.

I financed my first home in 2011 on a 15yr mortgage for $91,000 & sold it 18 months lager. I did the same thing for my next 4 homes before purchasing my last house in April 2019 in cash and my home I live in now in cash as well.

I go by the Ramsey method and some other financial advisors. Homes are an appreciating asset, not a large purchase that goes down in value and negatively effects your net worth. We're talking about 2 very different things here.

 

[CoolrainRaptor]

I'm wondering if dealers are marking them up even for those that ordered? Like the call and "Hey .. you're Raptor's here.. it'll be 10K above ordered/quoted price upon delivery"

Exactly we my order sheet has "MSRP" on the 'price of unit' box.... the dealer did tell me if Ford increases the MSRP before delivery then that is what I would pay however I don't see them doing that until the 22 year models

 

[DingDongDoug]

Wow, even paying MSRP is painful when it comes down to it. But 20K over is downright evil. They wont get that from me, but sadly they will probably get it from someone.

 

[tooloud10]

3. No wealthy person finances their $80k toy.

The wealthiest people I know lease all of their vehicles, which is indeed a form of financing the last I checked.

 

[Sethrad]

I live in Brentwood. Not far from Franklin Ford. It’s simply not possible to buy a car from them IMO. Nashville, Clarksville and Mt Juliet would be better choices. Heck, I have a hard enough time bringing my Raptor to them for service. Zip Code pricing from all car/truck dealers out here. I buy cars/trucks for my entire family and extended family. Birmingham, St. Louis and Clarksville are where the last three came from this summer. One was bought local…but that was a rare event.

 

[BalorGrayJax]

The wealthiest people I know lease all of their vehicles, which is indeed a form of financing the last I checked.

Lol

 

[tooloud10]

I can't even get my local dealer to commit to a specific ADM. Working with the dealer principle himself, all he will say is that he's happy to take a $1k deposit and order me whatever I want and that we'd have to work the final price out once it arrives.

That doesn't work for me...

 

[CoolrainRaptor]

LOL.. yeah these are the kind of ridiculous statements that really encourage people to do bad things.

1. Finding a 1.99% interest rate on an $80k purchase will not be found by everyone. People who find those rates will have to have >790 FICOs which only means that those people have been gassed to death by paying interest for years on things that they couldn't afford. This is not a path to wealth.

2. It's a misnomer, and one given often by broke people, that they'll make "so much more money" in the market and this is why they choose to finance. Look, if you have $80k to invest, I also hope you have $80k to buy this truck in cash and then you have the best of both worlds. You'll receive long-term gains and future value towards your retirement, and you won't get into issues with your income ratios. If you can't buy this truck in cash, you simply cannot afford it. If you must finance, the only rule I go by is from "the money guys" they are a little more lenient than Dave Ramsey, so I'd encourage you to watch their take and model.

3. No wealthy person finances their $80k toy. Broke people do all the time, for sure. People wanting to keep up with the Jones.

Your dead wrong on point #1 - I have a 800 - 820+ credit score (depending on 'day of' balances when its checked) and have never paid interest on anything i couldn't afford. In fact the only long term interest item I have had is my house... you can build excellent credit by doing no more than paying everything with a credit card and paying it off every month before any interest is charged.... then expand your credit limits with time. Simple way to build credit.