Minimum amount to finance?

[TD2]

so buy it with ford, then a month later, refinance it with the credit union.

my ford dealer took my 1.7% CU financing no questions asked. I just walked in with a blank check from the CU, wrote it and figured it out later with the CU.

Thanks for the info.

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[TD2]

I have a similar situation, but mine is nowhere near delivery date; I was told that to get the “discount” they offered I had to use ford financing, but I was not told that I couldn’t use any other bank/ credit union. That sounds scary and plain criminal if you ask me, it’s like they are hijacking your truck for ransom. I hope you can get them to use whatever method you choose to pay. Good luck let us know

believe this will start showing up more and more with dealers offering msrp. Dealer is making it difficult for me which shouldn’t be their goal—-Dealer will get some kickback from ford if we finance thru them.

Finance thru Ford and refinance via my preferred option is a good work around.

 

[RGinFL]

According to my calculator .9% of 25K is $225.00 or $4.6.8 per month over the course of the 48 month loan. You make a very good point here on a monthly payment of around $525 an if you can pay $695 a month for 3 years and the loan will be payed off. I like the flexibility you get with the method.

Might as well make the financing work for you. It is a great credit builder to pay any loan off early. It also gives you some flexibility if you had to drop back and make the lower payment for a few months.

 

[Goose..you there?]

I-bonds are paying 7.12% right now; same level risk as a savings account. Downside is you can't touch the money for the first 13 months.

I'm about the most financially risk averse person you've ever met, but this is a mathematical no-brainer. I also understand the point of an emergency fund (we always have $5k or more sitting in a high yield savings account), but in reality most financially responsible people have several layers of resources before they ever actually need cash - we have a decade of HSA receipts I could cash out at any time, existing I-bonds past 13-months, two credit cards with 0% interest for 15 months, a HELOC, etc...Not to mention that as a 40yr old with two kids and a home, I've tapped our emergency fund a grand total of zero times ever.

Dude, good for you! You are living like no other so you CAN live like no other! Took me a little longer, I am retiring this year at 55.. wife never worked and 3 kids in private school slowed me down, but the time has come. Now I wait on my retirement truck to be built!

 

[Rflick]

I-bonds are paying 7.12% right now; same level risk as a savings account. Downside is you can't touch the money for the first 13 months.

I'm about the most financially risk averse person you've ever met, but this is a mathematical no-brainer. I also understand the point of an emergency fund (we always have $5k or more sitting in a high yield savings account), but in reality most financially responsible people have several layers of resources before they ever actually need cash - we have a decade of HSA receipts I could cash out at any time, existing I-bonds past 13-months, two credit cards with 0% interest for 15 months, a HELOC, etc...Not to mention that as a 40yr old with two kids and a home, I've tapped our emergency fund a grand total of zero times ever.

Thanks for the information concerning the I-bonds. I visited Treasurydirect to learn more and found that this investment works good for idle money sitting in our local Credit Union drawing pennies.

 

[brnpttmn]

Thanks for the information concerning the I-bonds. I visited Treasurydirect to learn more and found that this investment works good for idle money sitting in our local Credit Union drawing pennies.

Along with not being able to touch the money for 13 moths, I-bonds also come with a penalty if you withdraw within the first 5 years. The penalty is losing the last three month of interest earned, which could be very minimal depending on rates/amount invested, but could also be significant if you're forced to pull out significant investment at a higher rate because of cashflow issues. Just something to keep in mind.

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