Guess I'm waiting for awhile..

[Mmm]

I’m poor but I don’t give a eff. I guarantee I have more fun beating on my truck in the dirt than most. That’s worth every penny in interest I pay. As my friend says “ya can’t put a price on smiles” that pile of money does you no good when your dead. The majority of people who I have met that obsess over finances are angry stingy ********. I’m not that guy. You do you and I’ll do me.

 

[melvimbe]

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.

The financing of an asset you own doesn't effect the appreciation or depreciation of said asset. The decision to pay cash or finance depends on your cash on hand, cash flow, other debts. If you don't have the cash on hand, but easily have the solid cash flow to handle payments and other debts, there's nothing wrong with financing the purchase. Sure you could wait till you have the money saved up, but you would be missing out on several years of enjoying the vehicle...the opportunity cost. If that cost is meaningless to you, that I don't know why you would buy a Raptor anyway, since you could met the basic need for a vehicle much cheaper.

I think the main point was though that even if you do have the cash on hand, if your interest rate is lower than the rate of inflation and/or whatever rate you get by investing in something rather liquid, you're not maximizing your money, making it work for you. That's fine, it's the safe route, but it is not the best route.

Where people run into trouble is the get into more debt then the can comfortably handle given their cash flow. It's not that you can't make large purchases, but you should wait till you have enough cash on hand to make it reasonable. And your cash flow should be steady and reliable. If your job means you get large payout at irregular intervals, or you're relying on your mother's SS check as income, then wait and pay cash.

 

[melvimbe]

Not what I'm saying at all. But I'm definitely saying that you can't afford this truck if you need to finance $50k over 5yrs.

'Need' is the key word here. Many are suggesting that you invest money elsewhere rather than pay cash...which means you don't need to finance. You seem to be imaging someone who makes say $2500 a month and no savings rather than someone who has $50 saved and $2500 of disposable income. Big difference.

 

[RaptorWhoSaysNI]

This is simply a false statement. The vast majority of you that finance it this far out will only pay it off early because you'll sell it in 2 years to go further into debt on the next one. It's such a silly concept that broke people talk themselves into.

NOBODY listen to this mess. He just comes in drops a T U R D and runs while we all have to deal with the stink. Just another troll that has no idea what they are talking about. Nothing to see here.

 

[CoolrainRaptor]

annnnd .... back to the thread.... maybe I got lucky but it only took me 5 phone calls to find an MSRP dealer the way I see this is:
#1 - you still want a 2021 Raptor and are just now trying to get one then your 99% paying ADM
#2 - do the leg work, send a message to the 8-10 dealers within driving distance (all the websites have an email contact) when they call you back say your interested in a 2022 Raptor at MSRP (or better, why not) find the dealer and then place the very day the system opens it up. Get the agreement is writing... my sales order had a "Price of Unit" on the salesforce that we both signed

Good Luck!

 

[leinad1904]

Not what I'm saying at all. But I'm definitely saying that you can't afford this truck if you need to finance $50k over 5yrs.

Sorry not sorry.

Im not yelling at anyone.. I make my statements, people choose to respond. You don't have to do so.

This generalized statement is simply not true. Many variables make everyone's situation different.

 

[tooloud10]

#2 - do the leg work, send a message to the 8-10 dealers within driving distance (all the websites have an email contact) when they call you back say your interested in a 2022 Raptor at MSRP (or better, why not) find the dealer and then place the very day the system opens it up. Get the agreement is writing... my sales order had a "Price of Unit" on the salesforce that we both signed

That may work better with some dealers than others but the Internet contact people at all the dealers I've worked with are not actually there to sell you anything, they're just there to get you in the door. I went through this in 2016 when buying a Focus RS--it was like pulling teeth to get anyone to agree to a price without actually going to every dealership.

 

[ganooch]

The financing of an asset you own doesn't effect the appreciation or depreciation of said asset. The decision to pay cash or finance depends on your cash on hand, cash flow, other debts. If you don't have the cash on hand, but easily have the solid cash flow to handle payments and other debts, there's nothing wrong with financing the purchase. Sure you could wait till you have the money saved up, but you would be missing out on several years of enjoying the vehicle...the opportunity cost. If that cost is meaningless to you, that I don't know why you would buy a Raptor anyway, since you could met the basic need for a vehicle much cheaper.

I think the main point was though that even if you do have the cash on hand, if your interest rate is lower than the rate of inflation and/or whatever rate you get by investing in something rather liquid, you're not maximizing your money, making it work for you. That's fine, it's the safe route, but it is not the best route.

Where people run into trouble is the get into more debt then the can comfortably handle given their cash flow. It's not that you can't make large purchases, but you should wait till you have enough cash on hand to make it reasonable. And your cash flow should be steady and reliable. If your job means you get large payout at irregular intervals, or you're relying on your mother's SS check as income, then wait and pay cash.

 

[leinad1904]

annnnd .... back to the thread.... maybe I got lucky but it only took me 5 phone calls to find an MSRP dealer the way I see this is:
#1 - you still want a 2021 Raptor and are just now trying to get one then your 99% paying ADM
#2 - do the leg work, send a message to the 8-10 dealers within driving distance (all the websites have an email contact) when they call you back say your interested in a 2022 Raptor at MSRP (or better, why not) find the dealer and then place the very day the system opens it up. Get the agreement is writing... my sales order had a "Price of Unit" on the salesforce that we both signed

Good Luck!

When I was looking to order mine, I called a few dealers. If anyone in the midwest is curious and still looking to order, here are the limited results I gathered. Disclaimer: this was back in June so take it with a grain of salt.

Rob Sight Ford in Kansas City, MO: +10k over MSRP and they only had 2 allocations, 1 was already taken when I called.
Lou Fusz Ford in St. Louis, MO: MSRP if financed through them. If paying cash, +1k over MSRP
Auffenberg Ford in O'Fallon, IL: MSRP, I was told also MSRP if paying cash.

 

[EMY92]

Todd this really does not make sense. First why would your 70 year old parents want to take out a mortgage now? I wouldn’t lend 70 year old people money for 20-30 years either. Second.. if their current house is long paid for they should have a ton of equity and savings to buy a new house if they really want to. And if they don’t have the savings the current equity in their current home should be more than their 40-50% down payment on their new home. Guess none of what you said above really make any sense to me. Again most people from that generation would understand that and anyone who understands money and wealth. Not trying to be a ****. Just doesn’t make sense.

I can easily see that happening.

I have paid off my house. One of the flags on my credit report is that I do not have enough installment type loans.

I financed my last Raptor for 4 years, I paid it off in 3.5 to help keep my credit score high. The month after paying it off, my credit score dropped 50 points, I'm just above 800 now.

I have very little debt, basically what I charge on my credit card each month. I have plenty in the bank and invested. I have an excellent credit rating, but it will likely drop from excellent to very good since I do not have any loans.

It's a little backwards that if you do pay off what you owe, you credit risk goes up.