May have to unload my 2021 Gen 3 37 Raptor

[Badgertits]

The $93,642 was OTD for the 2021, which included a 5k ADM. I got the 2019 for 1k under MSRP. That was in California and I played the driving and calling around game, I wised up since. Even at that time, most dealerships in California wanted 15k over. It is not worth my time anymore. I agree with your market comment, I am waiting for a huge correction before I jump back in and it will happen.

You could’ve just said “because CA” & that’d be enough lol

I agree good to just sit tight w/ what you have right now, although the last big move I may do is pulling some equity outta the house before rates skyrocket, probably wise & probably needs to be done in next month or so

 

[K9 EXPERT]

You could’ve just said “because CA” & that’d be enough lol

I agree good to just sit tight w/ what you have right now, although the last big move I may do is pulling some equity outta the house before rates skyrocket, probably wise & probably needs to be done in next month or so

That depends on your age and what you plan to do with it??? If you take enough out and prices collapse, you may find yourself upside down. Life events occur when least expected. I never did what you described, I know many have, but only a few came out ahead. Kind of like buying stocks on margin…….very risky IMHO

 

[Badgertits]

That depends on your age and what you plan to do with it??? If you take enough out and prices collapse, you may find yourself upside down. Life events occur when least expected. I never did what you described, I know many have, but only a few came out ahead. Kind of like buying stocks on margin…….very risky IMHO

I live in MA 30 mins outside Boston, has been historically true that real estate simply continues to appreciate in this area whether it’s warranted or not. Central/western MA a different story, nothings guaranteed in life but real estate in this area is pretty damn close. I have a lot of equity sitting @ 2.35% on a 15 year w/ 12 years left owe $193k house worth $650-$700k today, bought it 11 years ago @
An actual market bottom for $335k added a garage & finished basement etc. so suffice to say I don’t think I’ll miss a beat taking $50-75k out & refinancing back to a 20 or 30 year @ like 2.5-2.75%

One regret I did have looking back is tossing $30k @ the principle one year I had a good bonus/extra revenue on side

Im 41 w/ 2 kids 2 &6 wife is 38 we have plenty of time lol

 

[K9 EXPERT]

I live in MA 30 mins outside Boston, has been historically true that real estate simply continues to appreciate in this area whether it’s warranted or not. Central/western MA a different story, nothings guaranteed in life but real estate in this area is pretty damn close. I have a lot of equity sitting @ 2.35% on a 15 year w/ 12 years left owe $193k house worth $650-$700k today, bought it 11 years ago @
An actual market bottom for $335k added a garage & finished basement etc. so suffice to say I don’t think I’ll miss a beat taking $50-75k out & refinancing back to a 20 or 30 year @ like 2.5-2.75%

One regret I did have looking back is tossing $30k @ the principle one year I had a good bonus/extra revenue on side

Im 41 w/ 2 kids 2 &6 wife is 38 we have plenty of time lol

I suspect you already checked an amortization table to compare the total interest you would pay to extend the loan. We have different views, to me, unless you either need to take equity, or can make money on it, it is best to keep it. A friend used equity at a lower rate to pay for his wife’s law degree instead of taking out a 10 year student loan at a higher rate. The interest over the life of the loan was 5 times more than it would have been had he secured a student loan. All to have a $150 reduced monthly payment. Regardless, it sounds like you know what you are doing, good luck!

 

[Badgertits]

I suspect you already checked an amortization table to compare the total interest you would pay to extend the loan. We have different views, to me, unless you either need to take equity, or can make money on it, it is best to keep it. A friend used equity at a lower rate to pay for his wife’s law degree instead of taking out a 10 year student loan at a higher rate. The interest over the life of the loan was 5 times more than it would have been had he secured a student loan. All to have a $150 reduced monthly payment. Regardless, it sounds like you know what you are doing, good luck!

Ironically I stopped paying what was left on wife’s grad school loans when Biden got in office & kept hearing the BS about student loan forgiveness….I thought “they may actually do this”…& in between that there was already a hold on the payments & interest due to pandemic, well even though they didn’t do full forgiveness directly, anyone w/ fed related school loans DID get em waived, under the premise that somewhere along the line these fed lenders screwed around w/ interest charges & principle allocations….who knows if true or not but sure enough ****! $22k balance is gone. What a screwy time to be alive

 

[equitasforall]

Wow moving somewhere, where I cannot keep my vehicle.

Go on... I'm listening.

Same here, although the Raptor I'm going to have to sell is a 2019. Going to miss it though. Headed PCS to Australia for 3 years and can't ship it. Don't want to store it that long, so away it goes....

 

[Donovan]

Same here, although the Raptor I'm going to have to sell is a 2019. Going to miss it though. Headed PCS to Australia for 3 years and can't ship it. Don't want to store it that long, so away it goes....

Australia.

No Sir lol... click cancel on them orders.

 

[Vrrooom]

If anyone is considering taking equity of their home to pay for a vehicle. Here’s 2 charts that tell you the story.

Financing $50k on your mortgage at 2.5% over 30 years


Financing $50k on an auto loan at 2.5% over 5 years

 

[adamj2121]

If anyone is considering taking equity of their home to pay for a vehicle. Here’s 2 charts that tell you the story.

Financing $50k on your mortgage at 2.5% over 30 years
View attachment 342297

Financing $50k on an auto loan at 2.5% over 5 years
View attachment 342298

One option has 25 more years of interest That being said, take whatever has the better interest rate, your rate on a HELOC may not be the same as your rate on a vehicle loan.

 

[Vrrooom]

It’s not only the rate of interest, it’s over how long and what that total cost is. Avoid long term loans- heloc and mortgage refi cash outs are up there.