Lets talk financing rates (Canada)

[nickmav]

When I placed the order, i only saw offers for about 3.5%.

I dont see any offers specific to the maverick right now, and when i play with the ford.ca calculator im seeing 3.99%.

I see offers for F150 0.99% which isnt bad, but obviously not the maverick. my LOC was 2.75 previously, but with the latest hike it looks like its probably 3% now.

Heavily leaning towards just paying cash as 3% LOC is kind of high, and if i assume tax investment return if 3-4%, seems like its worth just paying it off.

What are you guys doing?

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[Shakesbear]

0% 36 months with about $25K down from sale of current vehicle and some cash. If you ordered prior to Dec 2021, then you should be eligible for the "then offer" of 0% for 36 months. Take the free money

 

[WesM]

0% 36 months with about $25K down from sale of current vehicle and some cash. If you ordered prior to Dec 2021, then you should be eligible for the "then offer" of 0% for 36 months. Take the free money

I think he is from Canada, so his offers are different.

I do plan on taking advantage of the 0%/36 since I ordered in Aug.

 

[snowcatxx87]

0% 36 months with about $25K down from sale of current vehicle and some cash. If you ordered prior to Dec 2021, then you should be eligible for the "then offer" of 0% for 36 months. Take the free money

I think he is from Canada, so his offers are different.

I do plan on taking advantage of the 0%/36 since I ordered in Aug.

This is Canada forum dudes. Completely different options up here, we get absolutely raped.

When I placed the order, i only saw offers for about 3.5%.

I dont see any offers specific to the maverick right now, and when i play with the ford.ca calculator im seeing 3.99%.

I see offers for F150 0.99% which isnt bad, but obviously not the maverick. my LOC was 2.75 previously, but with the latest hike it looks like its probably 3% now.

Heavily leaning towards just paying cash as 3% LOC is kind of high, and if i assume tax investment return if 3-4%, seems like its worth just paying it off.

What are you guys doing?

I am doing a lease. I wouldn't want to lay out that much capital that could be working for you instead.

 

[nickmav]

This is Canada forum dudes. Completely different options up here, we get absolutely raped.



I am doing a lease. I wouldn't want to lay out that much capital that could be working for you instead.

Thought about that. But i dont see how the math works there, unless you have TFSA room or are leasing through a corporation. In my case im not doing either.

 

[snowcatxx87]

Thought about that. But i dont see how the math works there, unless you have TFSA room or are leasing through a corporation. In my case im not doing either.

What do you mean? Lots of investments with great monthly returns that could cover your truck payment. On 30 grand, you could get around 630 bucks a month with daily return of .0007%

 

[nickmav]

What do you mean? Lots of investments with great monthly returns that could cover your truck payment. On 30 grand, you could get around 630 bucks a month with daily return of .0007%

$630/month is 7560 a year. Which means that is an annual return of 25% on your 30k.

Extremely skeptical.

 

[snowcatxx87]

$630/month is 7560 a year. Which means that is an annual return of 25% on your 30k.

Extremely skeptical.

That's fine, you asked for what people are doing, I told you what I am doing.

 

[nickmav]

That's fine, you asked for what people are doing, I told you what I am doing.

May I ask for an example of an investment you are pursuing that is reliably achieving 25%/year?

 

[stevhorn]

What do you mean? Lots of investments with great monthly returns that could cover your truck payment. On 30 grand, you could get around 630 bucks a month with daily return of .0007%

I'm curious how you get those returns as well. I know some of the split corps, particularly DF, DFN, and DSG are returning 10 cents a share (FFN 11.34 cents) but the cheapest of those 3 (DF) is trading around $6 a share today which means you'd need 6300 shares to earn a $630 monthly dividend an a $36000 investment. Do you mind sharing how you're earning $630? (You must have bought when share prices were low, post March 2020) I'm always open to new opportunities.

Sorry everyone, I know this isn't an investment forum, but I, too, am using dividends to fund my Maverick and my Bronco Sport.

 

[stevhorn]

May I ask for an example of an investment you are pursuing that is reliably achieving 25%/year?

I don't know of any paying 25%, but there are a few that pay between 10% and 20% reliably. These are generally split corps that hold primarily Canadian bank and Insurance companies. Check out Quadravest Capital Management and Dividend Growth Split Corp. | Brompton Funds (bromptongroup.com) if your interested. They are considered high-risk investments since they don't pay the dividend when the value drops below NAV. The share price also tends to trend down over time.

 

[snowcatxx87]

The highest returning investments I hold is all Crypto projects, look into yield farms and staking programs. I can guarantee, it exists and is real.

 

[Yellow Rhino]

I received 3.49% for either 48 or 36 months. Financing is cheap.
If you can find a GIC more than 2.5 over the course of 36 -48 months, the difference in negligible. You're better off financing because you will have cash on hand in case of emergencies and not locked into a 4 year term with a GIC or your TFSA. At least with financing rates the way they are now, I would prefer to have cash in hand in case of emergencies and what not. The rates are not bad considering prime is at 2.4% Get your financing done now before prime increases another .75% over the next year.
I doubt you're old enough to remember 16-18% financing rates back in the 80's, so when I get 3.49% for 4 years, I jump at it.

 

[stevhorn]

I received 3.49% for either 48 or 36 months. Financing is cheap.
If you can find a GIC more than 2.5 over the course of 36 -48 months, the difference in negligible. You're better off financing because you will have cash on hand in case of emergencies and not locked into a 4 year term with a GIC or your TFSA. At least with financing rates the way they are now, I would prefer to have cash in hand in case of emergencies and what not. The rates are not bad considering prime is at 2.4% Get your financing done now before prime increases another .75% over the next year.
I doubt you're old enough to remember 16-18% financing rates back in the 80's, so when I get 3.49% for 4 years, I jump at it.

Oh, I remember the '80s well. I wouldn't want to go there again. I agree with you regarding financing and having cash for emergencies.

 

[Tazgarde]

I think I was guaranteed 3.49% from Ford at the time of my order. With the delays on getting the truck, I've managed to bank a substantial amount and need to borrow maybe $5k to cover the full cost. Paying $60 every two weeks for 3 years is really going to annoy me since I'll just want to pay it off and be done with it, so I might just hit up the "bank of parents" for the difference at 0% interest!

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