Used 2018' Crew Cab 802A Raptor for sale $57,000

[03'Darin]

10 years?! Though, to be fair, if they offered 10 yr loans at sub 3% then it'd be a good deal. I suspect they are in the 6-10% range though

The 10 year loans are killer with rate. We have a local credit union that does that. They are around 8%. We discourage that as much as we can. Financing that long and at that high of a rate you'll never get out of the vehicle until it's close to paid off.

 

[jaz13]

The 10 year loans are killer with rate. We have a local credit union that does that. They are around 8%. We discourage that as much as we can. Financing that long and at that high of a rate you'll never get out of the vehicle until it's close to paid off.

Leasing is a far better financial decision than those terms!

 

[03'Darin]

Leasing is a far better financial decision than those terms!

That all depends. The person that usually does a 10 year loan is typically burying negative equity. When you spread a few or several thousand dollars over 120 months (even at a high rate) its much less per month (not in the long run though) than how that same amount of money impacts a 2 or 3 year lease.

The person that goes 10 years usually isn't in a good spot to begin with so they are just digging themselves in deeper.

 

[signalbobby]

Reality in this world is most people spend beyond their means. So yes a lot of people finance 6, 7 and even up to 10 years. That's not something we as a dealer even like to see.

But you do it anyway. Your best interest is your wallet and the stealerships.

Oh yeah and if someone is paying 10 - 15% interest.... its' because that's what their credit score dictates. NOBODY in this world today that has good credit is stupid enough to sign paperwork at that rate.

Kind of a moot point because with good credit, you qualify for a better rate. They had to be doing something right to do so.

 

[solsurfr]

But you do it anyway. Your best interest is your wallet and the stealerships.



Kind of a moot point because with good credit, you qualify for a better rate. They had to be doing something right to do so.

That’s tough stuff. Why not give Darin the benefit of the doubt? He’s been nothing but helpful to a lot of folks on this forum who didn’t even buy from him. It’s 2018 not 1988, the industry is very transparent these days and it isn’t hard to figure out fair market value for pretty much any commodity. From there, build a good relationship with a dealership and they often go above and beyond. Especially if you’ve bought multiple vehicles from them...that’s my experience at least.

 

[KODIAK]

I wouldn't touch a Gen2 that didn't have most of the factory 3/36 remaining so I could still buy a reasonably priced ESP from Flood Ford.

 

[Edbert]

Just wanted to chime in with support for Darin, I wish more salespeople were of his caliber.

While I'm here I just wanted to share some twisted (and probably wrong) logic I have with finances...if the interest rate is below the inflation rate then taking a loan can be an investment.

 

[jaz13]

Just wanted to chime in with support for Darin, I wish more salespeople were of his caliber.

While I'm here I just wanted to share some twisted (and probably wrong) logic I have with finances...if the interest rate is below the inflation rate then taking a loan can be an investment.

Wouldn't call it an investment, but IMO it is stupid to not take a loan at 3% and keep the money in savings. Earn 1%, so the net cost is only 2%, neglecting taxes. Even better, invest the money in something more productive.

Funny thing about banks is they only lend you money when you don't need it. That's why I usually take them up on their offer. Lose your job and see if anyone will give you $70k at 3%.

Cash is king and I'd rather have an extra $70k in the bank than a paid off truck that I have to sell if I need money.

 

[03'Darin]

But you do it anyway. Your best interest is your wallet and the stealerships.



Kind of a moot point because with good credit, you qualify for a better rate. They had to be doing something right to do so.

We discourage the customer from doing it because it's not in the best interest of either party. But if that's what the customer insists on doing we're going to do it. I've lost deals trying to discourage people from buying something they really couldn't afford. So yes if the customer insists, we'll do it.

Kind of like walking into Burger King and ordering the double whopper and super sizing it. But the person taking your order says..... "oh I'm sorry but you can't buy that...... Sir you don't look to be in the best of health..... so we've been directed by corporate to direct you to a more healthy menu choice. If you don't like that we can't help you." So yeah, what do you do? You go somewhere else and buy it..

 

[Aventador22]

I'd buy the ADD Front bumper with 40" light bar off of it lol