Anyone else considering not buying?!

[dcp2]

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[pgreen1959]

Some of you may have read about my 2023 XLT that was destroyed in a train derailment about 6 weeks ago. I just found out today that my dealer did indeed get a special allotment from Ford to resubmit my order. I have not gotten an email from Ford yet. I have requested that the new order sheet be sent to me to verify my order is still the same. The dealer has assured me I will be price protected. We will see how this plays out.

 

[WhiskeyDad69]

Can’t say I blame you. I’m hoping the next year our economy gets better and our rates will drop, I’m willing to finance with a higher rate and payment for a short term then refinance down the road. I’m putting almost $15k down and the payments still look shitty at the moment

 

[Bruce8858]

Some of you may have read about my 2023 XLT that was destroyed in a train derailment about 6 weeks ago. I just found out today that my dealer did indeed get a special allotment from Ford to resubmit my order. I have not gotten an email from Ford yet. I have requested that the new order sheet be sent to me to verify my order is still the same. The dealer has assured me I will be price protected. We will see how this plays out.

I remember that and hope it works out well for you. Just glad you got out safely. Truck can be replaced, lives can’t.

 

[Mikknj]

Shop around. Might be able to do a little better. Start saving $ now to help with down payment. With a June build date you aren't getting the truck until July-August. Every 1k put down will lower the payment ~$20/month.

At the end of the day if you can't really afford it or it would make life tough then it isn't worth it. We've worked really hard to be able to pay cash for vehicles and then we hold on to them while saving for an eventual replacement. The Maverick will likely change that unless we have to reorder for 2024. We bought one for our son and I liked it enough to convert his hybrid order into an EB for me. Goal will be to only pay interest for 6 months or so.

Soap box:
Can't stress enough how much better life is without large amounts of debt. We have our house and even that is getting paid off quickly. We don't fully subscribe to the Dave Ramsey method but we follow most principles that he has laid out. Buy a good vehicle. Pay it off before you do mods. Hold on to it for as long as you can while setting that payment money aside to save for a future vehicle or pay off other debts. It's life changing.

That is certainly sound advice! I would add don't chase prices up just because you want something..... ( although that is a hard one to resist)

 

[Limescooter13]

Shop around. Might be able to do a little better. Start saving $ now to help with down payment. With a June build date you aren't getting the truck until July-August. Every 1k put down will lower the payment ~$20/month.

At the end of the day if you can't really afford it or it would make life tough then it isn't worth it. We've worked really hard to be able to pay cash for vehicles and then we hold on to them while saving for an eventual replacement. The Maverick will likely change that unless we have to reorder for 2024. We bought one for our son and I liked it enough to convert his hybrid order into an EB for me. Goal will be to only pay interest for 6 months or so.

Soap box:
Can't stress enough how much better life is without large amounts of debt. We have our house and even that is getting paid off quickly. We don't fully subscribe to the Dave Ramsey method but we follow most principles that he has laid out. Buy a good vehicle. Pay it off before you do mods. Hold on to it for as long as you can while setting that payment money aside to save for a future vehicle or pay off other debts. It's life changing.

I'm a huge Dave Ramsey fan! For that reason I've decided to sell my Maverick for profit when it comes. I'll buy a used, but newer to me car, with a much easier loan to pay off. My current car is paid for and I'm currently finishing up baby step 2. Adding car debt to that doesn't thrill me, so making that debt as small as possible is the way I'm going to go. Despite the fact that I've waited almost a year for my truck. I just can't swallow a $30,000 price tag when I'm so close to being debt free, besides my house. So great to see another Dave Ramsey fan on here!

 

[CG - All the way]

Only way you are going to see anything approaching 0% is for something that a manufacturer cannot move off lots. That’s not going to happen with Mavericks ever.

Maybe not now or ever again (that's a long, long time) but my Ford loan on my 22MY Maverick is 0%. Just sayin.... Ordered Nov 2021.

 

[sprubs]

first I'd have to have an option to buy one to then consider not buying it

I'm not counting the Mavs on the dealer lots with the $5K markup.

 

[BShaff]

Car payment statistics
The average monthly car payment for new cars is $716. The average monthly car payment for used cars is $526. 39.5 percent of vehicles financed in the fourth quarter of 2022 were new vehicles. 60.5 of percent of vehicles financed in the fourth quarter of 2022 were used vehicles.
Apr 26, 2023

Bankrate

That's crazy! The Soul she has is a minimum $386 a month. I guess I've been fortunate enough to not need a car loan until 34. I paid $11k cash for the Jetta back in 2020 before the price increases.

 

[BShaff]

Better scenario,pay cash.

Wow! I can't believe I didn't think about that!

 

[BShaff]

You've "never had a car payment before," so why the sudden "need" to finance one now? Since the Maverick is just about the least expensive vehicle you can purchase new these days, it makes no sense that you could afford to pay cash before, but suddenly need to finance a vehicle that is less expensive?

And if you've "never had a car payment," but could actually afford to make the payment on a 0% loan for the Maverick you ordered at least six months ago, you could have been "banking" that same car payment equivalent into your savings. Even six months of saving $400-500 a month would make a huge difference in the amount you'd have to finance, therefore dropping your payment to at least the level of a 0% loan, if not even lower.

I get that you "resent" paying interest on a loan. But 0% loans aren't "real"... That's the auto maker dumping inventory by lowering the cost through artificial means, without changing the MSRP... They basically pay the bank "points" on your loan to bring the rates down. It's a shell game to move vehicles when they aren't selling. Ford is having very little difficulty selling every Maverick it can produce, so you're not likely to see any "incentivized" loan rates any time soon... Want to get "$10K off" on a truck? Buy a Ram... They can't get rid of them, so they're offering all kinds of incentives.

I bought a used Jetta for $11k, not sure how that's more expensive.. I'm fairly certain her Soul was also under $30k. At the end of the day the Soul is 0% and wasn't upcharged due to work incentives. Sure, we could dump all available cash, but home ownership comes first and unexpected events happen. It's not like I ordered this yesterday, shit happens in almost a year of waiting. The need for a truck is already stated in the post, my inlaws have land/cattle that we are starting to get more involved with. A little truck for a large amount of land would be VERY useful.

 

[redskins5]

Anyone else looking at interest rates and considering not purchasing their Maverick? I have a June 12 build date and at this point the lowest interest rates I've seen are 5.5% which is crazy! I have two different trade in scenarios 2020 Soul ($5000 profit) OR 2017 Jetta (KBB $13k - all profit). Either way I'm sitting at a $430-$580 a month payment on a $30k truck. Maybe it's because I've never had a truck payment but that just seems very high to me.

Truck build, nothing special. Inlaws have property/cattle we're starting to get involved with so needed a few extras.

HPR - Ecoboost - Fx4 - 4k tow - SIBL/Rail

Try working with your dealership with ford credit, i was able to get mine down to 1.2 when it was 4 everywhere else.

 

[JimParker256]

I bought a used Jetta for $11k, not sure how that's more expensive.. I'm fairly certain her Soul was also under $30k. At the end of the day the Soul is 0% and wasn't upcharged due to work incentives. Sure, we could dump all available cash, but home ownership comes first and unexpected events happen. It's not like I ordered this yesterday, shit happens in almost a year of waiting. The need for a truck is already stated in the post, my inlaws have land/cattle that we are starting to get more involved with. A little truck for a large amount of land would be VERY useful.

I think you misunderstood my reply. Or maybe I worded it poorly. As another Dave Ramsey fan, I would completely agree that the house if MUCH more important than any car. I've driven a LOT of POS cars in my lifetime, prioritizing housing over "quality" of transportation. The "well used" Karmann-Ghia I drove in college had no working starter. I push-started that thing for two years, always making sure I parked where it was either level, or there was a downhill I could use to my advantage. One girl I dated said she was embarrassed and wouldn't ride in it again, and my response was "Why? I'm not asking YOU to push, just to sit there while I do it. I could get it fixed, but then I couldn't afford to take you to on a date!"

So if it came off as me putting you down for not being able to afford a Maverick, I apologize. That was NOT my intent. It was intended to be more about zero percent interest rates (and why they aren't "real"), and how those lull us into buying things we should not buy. I've purchased a few new cars, but mostly after we were pretty "set" financially, with only our house for debt. Even then, we either paid cash or accelerated the payoffs dramatically. Nowadays, we're completely debt free, and living off our savings and investments (well, that and a tiny pension from 5 years at IBM, plus social security). And I chose to pay cash for my Maverick, even though 1.9% was still available at the time. I just didn't want the hassle of making payments - even though my financial adviser pointed out that paying 1.9% would have probably been financially smarter, considering we're earning at least 7-10% on the invested money.

 

[Slobberdawg]

I will know what I will do in june when toyota hopefully will announce the 24 tacoma hybrid (maybe plug in) and possibly the stout hybrid (smaller than tacoma like the hilux

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