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Started By
Message
re: Yukon Denali XL or Lincoln Navigator Reserve L
Posted on 12/9/20 at 8:31 am to Vidic
Posted on 12/9/20 at 8:31 am to Vidic
quote:
It reeks of someone who thinks they’re smart but doesn’t realize how fricking dumb it is to pay that much cash for a vehicle.
Which was my point.
But then you can't show off to random internet strangers if you don't tell everyone you have $90,000 to waste on a quickly depreciating asset
0
Posted on 12/9/20 at 8:37 am to TigerDat
Your comparison should be the Escalade and the Navigator, not Denali. With that said, we have a 2020 Navigator (not the L or Reserve) and it is by far, the best SUV ride I have ever driven. The ride was so smooth that I went and test drove a new F150 hoping to get the same results....I did not.
By the way, with 1.8% financing, go put your money in the market and get a better return. If you have that much cash on hand you either just inherited money or you're responsible enough to properly handle good debt.
By the way, with 1.8% financing, go put your money in the market and get a better return. If you have that much cash on hand you either just inherited money or you're responsible enough to properly handle good debt.
Posted on 12/9/20 at 9:07 am to shawnlsu
quote:
Why are you so worried about what people spend their money on?
Then why post this on the OT if you don’t want the attention?
Posted on 12/9/20 at 9:10 am to Paul Allen
quote:
I absolutely love mine. Financed for 120 months at $950 a month.
The dealership even threw in a 30-A sticker
I bet that looks sweet parked at the travel ball fields.
Posted on 12/9/20 at 9:17 am to Booyow
quote:
This statement reeks of some white trash motherfricker who got a settlement from a vehicle accident and now thinks that he’s a baller
Anyone that pays cash for a vehicle with the interest rates available is an idiot with money. Everyone make fun of the 8 year loans, but its the smart play with the way interest rates are.
OP, if you truly have enough money to pay cash, do yourself a favor and go talk to a finance guy. Put that money in the market and finance the vehicle for as long as possible at the lowest rate. Financially is a much smarter play.
Posted on 12/9/20 at 9:17 am to TigerDat
I get the feeling this is more of a status purchase versus buying something that will last and provide little issues, so just get whatever one you think looks cooler.
Posted on 12/9/20 at 9:22 am to TigerDat
quote:
Not financing. Paying cash.
Why? You sound like you just won a settlement. If so, your first purchase should be a few hours with a financial planner. That is a lot of cash for anyone. Get some cheap financing for the car and invest the rest. You'll have plenty of money to do both.
If you did just come into money, you have an awesome opportunity to set yourself up for future earnings. Don't blow it all on a depreciating asset.
Posted on 12/9/20 at 9:22 am to TigerDat
If you are actually considering paying nearly $100k for a General Motors product then I'd say you have more money than sense.
Posted on 12/9/20 at 9:30 am to JackieTreehorn
quote:
If you are actually considering paying nearly $100k for a General Motors product then I'd say you have more money than sense.
As opposed to what? The Ford Navigator?
They put that 5.4L 3 valve in engine in every one of them for about 10 years. All of them are total junk and most have to be rebuilt.
It’s no mystery why General Motors completely dominates this segment and has for years.
And before you say Mercedes Benz or BMW - I would buy a POS Ford before I deal with those problems. Those things have issues with electronics (and they have many), engines, head gaskets, and transmissions. How the Germans have a reputation of being more reliable than American cars are beyond me. They’ve been crap for at least 20 years now. I definitely wouldn’t trust them with an X7 or GLS.
This post was edited on 12/9/20 at 9:40 am
Posted on 12/9/20 at 9:35 am to lsu777
quote:
OP, if you truly have enough money to pay cash, do yourself a favor and go talk to a finance guy. Put that money in the market and finance the vehicle for as long as possible at the lowest rate. Financially is a much smarter play.
Finally...someone that understands TVM and opportunity cost
Posted on 12/9/20 at 9:41 am to iAmBatman
I don't' think this thread went the way he thought it would go
Posted on 12/9/20 at 9:42 am to TigerDat
quote:
Not financing. Paying cash.
Letting $90K sit in a bank account instead of in the market right now tells me you aren’t as smart as you think you are.
Throw the $90K in the market, finance whatever status symbol vehicle you want at <2% and enjoy your returns.
Or brag to people on the internet about your poor financial decisions.
Posted on 12/9/20 at 9:44 am to UpToPar
quote:
Letting $90K sit in a bank account instead of in the market right now tells me you aren’t as smart as you think you are.
Almost everything I have is at its highest price point in the last 52 weeks. So not a bad time to sell.
Then again, it just keeps going up especially after the vaccine news.
This post was edited on 12/9/20 at 9:45 am
Posted on 12/9/20 at 9:56 am to UpToPar
quote:
Letting $90K sit in a bank account instead of in the market right now tells me you aren’t as smart as you think you are
Glad you know me. I have more than enough in the market.
I genuinely wanted opinions on the 2 vehicles i asked about, some people actually gave those opinions. Thanks to them
I can care less about the rest of the bullshite, this ain't new money, its not inherited, its been built over the years working with my financial guy.
Why pay cash? For me cause I dont want to pay a note. Is it the smartest, no but its my money and my investments are more than srickef up.
Again thanks to those who actually attempted to answer my question.
Posted on 12/9/20 at 10:08 am to TigerDat
depends on your demographic.
Posted on 12/9/20 at 10:11 am to TigerDat
It's silly to respond to that. In this one thread, you've been called out for financing and paying cash. Recognize there is no right answer on the OT and move one.
We looked at both of the ones you listed. Went with the XL because I didn't see anything in the Navigator that warranted and extra 25k. Plus the wheel options on the Nav that we were presented were a little too flashy for me.
I love it, no complaints. My last vehicle didn't have nearly the features of this one, so it was quite an upgrade.
We looked at both of the ones you listed. Went with the XL because I didn't see anything in the Navigator that warranted and extra 25k. Plus the wheel options on the Nav that we were presented were a little too flashy for me.
I love it, no complaints. My last vehicle didn't have nearly the features of this one, so it was quite an upgrade.
Posted on 12/9/20 at 10:15 am to TigerDat
quote:
its been built over the years
Needs a FA because he’s coming into millions in 2018
Talks about his very traumatic accident at work
quote:quote:
What do you do for a living to have $750k in cash set aside @31-32? I may be interested in a career change
Was in a very traumatic accident at work. Wouldn't wish it on anyone
Posted on 12/9/20 at 10:22 am to Booyow
Posted on 12/9/20 at 10:43 am to TigerDat
quote:
Glad you know me. I have more than enough in the market.
You can never ever have enough and I don't give a shite if you have a enough.
Option 1) put 90k in the market and average atleast 5% returns over next 8 years and finance the 90k @1.9%. So overall you make an average of 3% or more per year.
Option 2) you buy it outright and you are down 90k.
You are literally talking about pissing away 25 grand just to say you are paying cash and the feeling of you have enough in the market.
Talk about making an emotional decision.
BTW anyone that js dumb enough to give you shite about financing a vehicle is too poor to ever pay cash for a vehicle and is too poor to truly understand the time value of money.
Posted on 12/9/20 at 12:58 pm to lsu777
At interest rates what they are, I’d rather have $90k just sitting in the bank than depreciating like a new vehicle does. Sure, it’s not like making money in the market, but minus inflation, you’ll still have $90k and more importantly, you’re liquid if you need the money for something else.
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