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Posted on 3/2/19 at 5:58 pm to BearCrocs
quote:
The sales guy was telling the customer that he could get him financed for nine years at $600 a month. NINE YEARS!.. he signed the papers.
This is most of the OT posters when it comes to vehicles. Do you not see the almost daily threads?
Posted on 3/2/19 at 6:00 pm to BearCrocs
So he just HAD to get a $55,000 dollar truck? $35,000 trucks are pretty nice these days.
1. Get the XLT, not the King Ranch or Platinum, pay $35k
2. Wait a year. Save a little more for the down payment
3. Now you have a reasonable note over 60 months.
1. Get the XLT, not the King Ranch or Platinum, pay $35k
2. Wait a year. Save a little more for the down payment
3. Now you have a reasonable note over 60 months.
Posted on 3/2/19 at 6:01 pm to Undertow
quote:
So he just HAD to get a $55,000 dollar truck? $35,000 trucks are pretty nice these days.
The guy clearly doesn’t make smart decisions
Posted on 3/2/19 at 6:04 pm to BearCrocs
That’s the kind of guy who’s already upside down when he walks in.
Posted on 3/2/19 at 6:05 pm to BearCrocs
#Nutz4Lyfe
Posted on 3/2/19 at 6:07 pm to BearCrocs
You can finance a bass boat for 20 years 
Know people who do it all the time, they’ll always be broke
Know people who do it all the time, they’ll always be broke
Posted on 3/2/19 at 6:08 pm to Strannix
I suppose it’s better than layaway 
can you still do that?
can you still do that?Posted on 3/2/19 at 6:09 pm to Rza32
quote:
No lender is doing 9 year auto loans.
It took me about 30 seconds to find one.
Great Meadow Federal Credit Union says, "Stay in your lane bro."
This post was edited on 3/2/19 at 6:13 pm
Posted on 3/2/19 at 6:11 pm to ezride25
I’m shopping for a truck right now. When I walk into the dealership to buy I will have done enough research to know about how much my down payment will be, what my note will be, the term and APR of my loan, and what I expect to get for my trade in.
Posted on 3/2/19 at 6:20 pm to BearCrocs
No way any bank is doing $55k for 108 months at 3.75%. That what a $600 monthly note would be.
Posted on 3/2/19 at 6:43 pm to BearCrocs
50K millionaire gotta keep that image up Baw
Probably went next door and got a 20 yr note on a boat and a 15 on a 4 wheeler
Probably went next door and got a 20 yr note on a boat and a 15 on a 4 wheeler
Posted on 3/2/19 at 6:52 pm to BearCrocs
Not that I agree with it, but I think longer term loans are going to be necessary for the majority of buyers if vehicle prices continue to rise like they have been in recent years.
Posted on 3/2/19 at 6:55 pm to TigerstuckinMS
Good find, a Credit Union out of New York. Not sure where the poster was shopping, but I'd have to see what lender that does business in Louisiana offers those terms. The most I've seen is 84.
Posted on 3/2/19 at 6:56 pm to BearCrocs
If he got a low interest rate, one that is lower than what he thinks he can invest at, it is in his best interest (pun intended) to get the loan for as long as they will allow him.
Posted on 3/2/19 at 6:57 pm to BearCrocs
quote:
I was buying the wife (no pics) a used vehicle yesterday. While I was sitting on the sales floor I overheard a mid 20s person making a deal on a $55,000 truck.
The sales guy was telling the customer that he could get him financed for nine years at $600 a month. NINE YEARS!.. he signed the papers.
I just don't understand why more people don't take out these types of beneficial auto loans? 9 yr $600 a month auto loan on a used pickup truck sounds very smart IMHO but what do I know. Where I draw the line tough is when the $600 a month goes to $625 because you opted for the optional truck nut option!
This post was edited on 3/2/19 at 7:00 pm
Posted on 3/2/19 at 7:04 pm to BearCrocs
Yolo
Posted on 3/2/19 at 7:04 pm to BearCrocs
quote:
55,000 truck.
The sales guy was telling the customer that he could get him financed for nine years at $600 a month. NINE YEARS!.. he signed the papers.
Please tell me where I can borrow 55k at 3.5% interest for nine years.
I'll be there Monday morning.
Posted on 3/2/19 at 7:07 pm to Undertow
What kind of truck you looking at?
Posted on 3/2/19 at 7:12 pm to cryptkeeper
quote:
Not that I agree with it, but I think longer term loans are going to be necessary for the majority of buyers if vehicle prices continue to rise like they have been in recent years.
Or... and hear me out now... or people could just start living within their means. You probably shouldn’t be buying anything that costs $30k+ without making six figures.
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