Anyone else considering not buying?!

[Skyline]

Which credit union is this? That 3.75% is real nice.

Here you go.... a bit too far from you...

https://www.shccu.org/rates.php

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[Joe Mac]

Here you go.... a bit too far from you...

https://www.shccu.org/rates.php

This is how I'm paying for mine, I think
I'm going to max out my Ford Pass Visa and my United visa. I'll take the points from the ford card to purchase an ESP extended warranty for my 2020 Shelby. I travel a lot so I need the travel points from United
I'll take a credit union loan to pay off the cards and the balance I'll just pay cash

 

[Exranger]

Appreciate the information. It's not that I can't afford it, I've just never had a car payment before. Bought the Jetta outright and inherited the Soul loan from the woman. But her Soul loan is 0% interest. Comparing 0% to 5.5% just has me feel like it's not a good time to buy a truck. Cold feet maybe.

Schools first credit union had 4.99 as of a week ago. I went with them.

 

[pigsareus]

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

diff between 3 percent and 5.5 is about 35 bucks on a 5 year note. at 40mpg you can likely make up that diff easily with the fuel savings. They're not giving money away at zero percent anymore, those days are long gone , 5.5 is not really crazy - it's actually much lower than is has historically been. Crazy is mortgage rates at 16 percent in the mid 80s. Paying another 35 bucks a month is essentially chump change.

 

[pigsareus]

I've considered buying now/soon because of higher interest rates. I thought that by now the higher rates might strand Ford dealers with unsold Mavericks that had been ordered but not delivered due to higher rates. I don't see that any more vehicles are available; the greater interest expense doesn't really seem to matter. So I am surprised.

I'm interested in XL EB - pretty basic. But I do not want to and will not jump through Ford's bizarre current ordering system. When there are five unsold XL EBs on the Ford dealer's lot I'll take a look. I'm in no hurry; will prefer to buy when it is much easier to do so.

it's easy to make up the diff in rates w/ the hybrid gas savings. Imagine what gas will be in 3 years - the savings will be even greater.

 

[pigsareus]

Appreciate the information. It's not that I can't afford it, I've just never had a car payment before. Bought the Jetta outright and inherited the Soul loan from the woman. But her Soul loan is 0% interest. Comparing 0% to 5.5% just has me feel like it's not a good time to buy a truck. Cold feet maybe.

remember when people were saying it wasn't a good time to buy a house awhile back? Now the prices have generally increased by 10s of percents so now is not a good time to buy a house. Bottom line : sooner or later you have to pull the trigger, waiting it out in hopes the rates will come down while the vehicles prices increase = it's all the same, not to mention if you have to pay car repair bills in the meantime on your current vehicle you're on the losing side

 

[gwrace14651]

2% on a home mortgage is exceptional, wow!

We were very fortunate with our timing. Home completed construction in July of 2019. Materiral and labor costs were much lower. Who knew Covid would strike just a few months later and destroy the world economy.

 

[Mav_RICK]

We were very fortunate with our timing. Home completed construction in July of 2019. Who knew Covid would strike just a few months later and destroy the world economy.

Yes perfect timing actually, especially building. Prices sky rocketed just after that.

 

[Irving]

Hope I’m wrong, but I don’t see anything happening that will improve the car market in the long run. EPA mandates are going to make any non EVs a difficult proposition for the manufacturers and what gas vehicles they can produce will go towards higher profit.

Add to that steady price increases and I get the feeling it’s buy now or hang on. Things are going to be radically different in 5 years.

 

[Mav_RICK]

Hope I’m wrong, but I don’t see anything happening that will improve the car market in the long run. EPA mandates are going to make any non EVs a difficult proposition for the manufacturers and what gas vehicles they can produce will go towards higher profit.

Add to that steady price increases and I get the feeling it’s buy now or hang on. Things are going to be radically different in 5 years.

Of course as more and more people plug in electricity will go way up. Oil and gas will come down. Then what?

 

[gomakyle7]

Here you go.... a bit too far from you...

https://www.shccu.org/rates.php

'We serve employees of the Stamford Health System and members of their immediate family'

Stupid question, but, I'm assuming this means you have to be a part of the Stamford Health System or a relative of one? I'm from the SE part of CT and this is super intriguing to keep an eye on

 

[SLINGSHOT]

Quit Whining. I paid 12% on a home loan in 1985. That was with 50% down. 5% is chicken
scratch.

 

[Gmood1]

Here's a credit union supposedly anyone can join. You can use the consumer council membership to join a bunch of different CUs all over the country.

https://www.americanconsumercouncil.org/membership.asp?dname=Americanconsumercouncil.org

Scroll to the bottom on the American consumer website and enter your information to join the consumer council.

Use this code USSFCU . It will be free to join.

Go to credit union page below and become a credit union member. You'll use your membership of the VACC to join the credit union.

It's $6 to open a free checkings and savings account.

Go here to join.
https://www.ussfcu.org/about-us/join-ussfcu


Checkout their rates on auto loans. Even the 84 month loan is under 5%.

Imagine when the Feds drop interest rates what their loan rates will be.
https://www.ussfcu.org/resources/rates.html

 

[Old Hickory Trojan]

Here's a credit union supposedly anyone can join. You can use the consumer council membership to join a bunch of different CUs all over the country.

https://www.americanconsumercouncil.org/membership.asp?dname=Americanconsumercouncil.org

Scroll to the bottom on the American consumer website and enter your information to join the consumer council.

Use this code USSFCU . It will be free to join.

Go to credit union page below and become a credit union member. You'll use your membership of the VACC to join the credit union.

It's $6 to open a free checkings and savings account.

Go here to join.
https://www.ussfcu.org/about-us/join-ussfcu


Checkout their rates on auto loans. Even the 84 month loan is under 5%.

Imagine when the Feds drop interest rates what their loan rates will be.
https://www.ussfcu.org/resources/rates.html

FED isn't going to drop rates anytime soon according to the latest odds....in fact they may raise them again after the latest numbers came in,.....money is going to get tighter...

 

[Gmood1]

FED isn't going to drop rates anytime soon according to the latest odds....in fact they may raise them again after the latest numbers came in,.....money is going to get tighter...

I was thinking maybe 2 or 3 years out...possibly longer. I know they are not going anywhere right now. Eventually they will have to come back down. Or the prices of homes and vehicles will have to drop significantly. I'm glad I bought my home 9 years ago, before all of the mayhem.

I try to hunt the best rates, when car shopping.

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