re: how much would u finance a vehicle for and for how long

Holy shite. That is more than my house note.

Currently have a loan on my F150, @ $42K, 72 months….0%. I’ll take free money over paying cash every time.

(no message)

Current truck is 72 months @ 1.9%. I’m not in any big hurry to pay it oft at an interest rate below 2% and even less so now with inflation. But my note is only $460, not $1200

Errrrrryyyybody on the OT pays cash, baw

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If you can't buy it in cash, you can't afford it.

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The last car I purchased was at 0.0% interest. Giving them my cash would have made 0.0 sense.

I finance everything I can with these low rates and potentially increasing inflationary environment.

That’s insane. I’ve never understood value to people with vehicles. I own a $700k house and drive paid for vehicles. When I buy new vehicles they’re $10-20k and used. I could but nee but they lose so much money so fast.

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see your ridiculousness and I raise you my SIL. Financed some Chevy SUV at like 16.5%. I remember my wife telling me that and I just couldn’t believe it.

I didn’t know they could charge that much interest, personally.

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32.1%

That’s the highest interest rate I saw on an auto loan back in my banking days. They straight up fricked him with no lube. It was for a used car dealership that our institution and many others in the area refused to work with because they were lying their arse off about their vehicles and they were basically loan sharking with cars.

Of course we’d get those payday loan people bringing in checks for $1,000 or so usually with interest in the 30-50% range. You’d occasionally get the ones in the 60s/70s range. I’ll never forget the lady who had a check for roughly $2k and she had a 102% rate. We told her that we could get her that loan approved in maybe half an hour for significantly less interest and she would be able to pay it off in a year. She said “they’re going to let me pay it off over 2 years” and we told her that her monthly payments for doing it with us would be significantly less, probably less than half what her payments would be with the loan shark joint and she’d only have one year of payments. She said she’d come by later and talk to us about it so we gave her back her check and she said “oh no I need that in my account right now, cus I need to get groceries for Sunday dinner”. It was a Tuesday and she had a few hundred dollars in her account.

Financial illiteracy isn’t the worst problem in this country, but it’s definitely in the top 5.