Sadly, just gave up delivery of my new JLUR

[euan2020]

"I opted for a 6yr loan but doubled my payments often. Paid it off in 3.5yrs instead, which allowed me to limit the interest I was required to pay overall.

What has always helped me in my finances: always pay more than the minimum payment monthly. Pay additional payments on the principal when you are able (income tax, bonus at work, hobby money). If you people did the math, they would be floored at how much interest is reduced just by these methods and how quickly they can pay the debt off. Plus it boosts the credit. "


This

I have always been debt averse, and certainly there is good debt such as mortgage/bond but whole lot of people place items on debt they didn't need to be burdening themselves with
flip side of spending and borrowing is that you are missing out on investments which have averaged around 6.5% over a long period , and you don't want to be working until 67-70 so need to have savings as well - power of compounding

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[The Last Cowboy]

That also allows you to buy deep into the loan and, if an emergency arises, skip a month or two (if your loan is written that way) to pay for what's needed.

 

[dalema]

This is Delta Community Cresit Union‘s rates today. I’ve used them quite a few times (im in CA)

 

[JAKE.JEEPER]

I work in auto finance and new cars are averaging 3.75-6% depending on term and credit standing through credit unions over here in New York. Not sure why they quoted you 9%, but you also could shop around and got some pre-approvals through different lenders and walked in with a bank check for the Jeep..

 

[Zipzit]

I'm more worried about the dealership giving me crap on a trade in.

They kind of have me by the balls. Sure we will give you 5k below KBB walk away and let us keep the 1000 and sell the jeep for sticker

In my state (Nevada) if you trade in on a new purchase, the trade in value is NOT taxable on the purchase of the new vehicle. e.g. $50,000 purchase with a 30,000 trade in = you only pay tax on $20,000. Great deal, but yeah, depends on the dealers trade in valuation.

 

[SoK66]

Sad, but the cost of the vehicles and now interest rates are going to be inhibitors for an increasing number of people. Shades of the late 70s - early 80s. We had a mortgage rate of 12.5% in ‘79 and were happy to get it.

 

[MDPJeep]

Sad, but the cost of the vehicles and now interest rates are going to be inhibitors for an increasing number of people. Shades of the late 70s - early 80s. We had a mortgage rate of 12.5% in ‘79 and were happy to get it.

Yup - people are getting priced out of cars, houses and major purchases on credit cards. I don't understand the logic of the banks (posing as the FED).

 

[ExDCx]

This is Delta Community Cresit Union‘s rates today. I’ve used them quite a few times (im in CA)

I’m in the process of buying out the lease of my daily driver (not the jeep) through DCCU and have been very happy with the process and the rate for a three year old car. I’m planning on buying my Jeep out as well when the lease ends in a few years and will definitely go through Delta again.

 

[Bayrat]

I joined the Utility Employees credit union in Pa, Almost any affiliation will qualify you for membership.

 

[Howardlv22]

This thread is turning into the thread where the guy said sadly he was sellin his jeep for a bronco….. 17 pages later he might keep it maybe the OP wanted Soemone to talk him into going and buying his special order with enough convincing? go buy the bleeping jeep or don’t. And move on. Not in reference to the YouTube channel bleepinjeep

 

[OhioJeeper]

Special order a manual with brown leather and stick the dealer with it. That’s why they will want a non refundable deposit from the next person. Thanks.
If the interest rate change pushed you out. you couldn’t afford it in the first place.

Damn, that's harsh. Funny, but harsh.

 

[Rodeoflyer]

the best thing about this story is that the people who didn't really want or NEED a real 4WD vehicle (I know thats a big statement now that everyone's taken care of) wont have one.

I watch all the little Subaru's and Audi AWD's fail every winter and now it's winter.

 

[Cux211]

Sad, but the cost of the vehicles and now interest rates are going to be inhibitors for an increasing number of people. Shades of the late 70s - early 80s. We had a mortgage rate of 12.5% in ‘79 and were happy to get it.

Definitely, I’ve been looking for a better house with acreage for a few years now was always behind the eight ball I’ve literally crippled myself workin ot to save more cash then freaken covid and the massive influx of city people over paying destroyed the market in my area with prices in my range now pushed 100k+ overpriced and now the ridiculous mortgage rates well the two coupled together have cut my legs off

 

[JDub11]

You guys Crack me up. I think anything below 5 percent ridiculous. If you are going to barrow somebody else's money to buy or house, car, ect.. you should be paying them 5 percent at a min. It's ridiculous you loan the bank money and they want to pay you 2 percent. That's why there is tons of money in the market. If they finally start Paying you to put your money in the bank I can see money starting to flow back that way. Don't even get me started on these gov hands outs. Trying ro stop inflation and they keep handing out money.

 

[COJeeper]

Imagine trying to buy a house now!!! We wouldn't be able to afford out house at the current rates. Got in at 2.99% and that was the only way we could afford this price point, it's crazy.

To add some perspective though, these are record low rates. 10 years ago, I would have jumped on a 5% auto loan rate (if there were not 0% deals through the manufacturer). I'm at 1.79% for 72 months on my '22. Granted, prices have also skyrocketed which makes the record breaking low rates seem like regular rates with regular prices. I'm just really hoping it's a blue government because I have a blue Jeep so I trust blue to get me out of this.............................. aaaaaaaaand banned again.

I guess I'm never selling my home or my vehicle.

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