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Minimum amount to finance?

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LelandJ

LelandJ

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I like these suggestions, thank you!

To answer liveshot, Ford has 0% for 36months on the Maverick. You should pick that specific vehicle in their financing section on the website and you'll see it.

My Mav isn't scheduled to be built until the 2nd week of Feb so I still have time to weigh all the options.
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stoptothink

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Maybe you missed the part where I stated "Emergency Funds". That means readily available CASH.

There is no guarantee that losses could not happen in Index funds.

Having cash on hand means potentially not selling those index funds at a loss when needed or having less available because of unrealized losses.
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.
 

Mannyr

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Just wondering, I might have just realized how cheap I am :ROFLMAO:. A $500 a month payment is not very high these days? I pay $380 on my current car and I feel is too much... I mean for $500 a month I could buy a mid/full size truck right? take into consideration that I don't use my car for work, it's just a family car.
 

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I can't wait until I personally need to contemplate paying full cash for a brand new vehicle purchase or financing 0% for 36 months. This is not a Naranjita problem. :LOL:
 

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As an opposing question to the OP, is there a maximum allowed at 0%? My truck after taxes will be ~39k. Can I finance even more like those that trade in cars they owe more than its worth? 0% is 0%! Can't wait to see the finance managers reaction when I sign for a 1100/m payment on a Maverick, still cheaper than my Z06 payment was a few years ago.

I seriously debated paying cash the truck, but the 0% is too good to pass up. I currently own both of my vehicles and been car payment free for the first time in my life for the past 9 months. Like many of you, I hate payments and owing on stuff. It's just not financially advantageous to not utilize the 0% and invest elsewhere.
 

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This is probably a weird question but is there a minimum amount you can finance with Ford at 0%?

I'm probably just going to buy the Maverick outright with cash, but if I decided to pay most of it as a down payment will Ford still finance the small balance at 0% and is there a cut-off amount?

I'm just curious about it and figured I'd ask if anyone knows. I searched Ford's financing section on their website but I didn't find anything that mentioned it.

Thanks!
My credit union has a minimum of $5 or $10k, depending on the length of time on the finance. Haven't seen a minimum for Ford's rate though.
 
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LelandJ

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My credit union has a minimum of $5 or $10k, depending on the length of time on the finance. Haven't seen a minimum for Ford's rate though.
You'd think at 0% it wouldn't matter to them because they're not making anything either way. 🤷🏻‍♂️

Thanks for the info!
 

RGinFL

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It is 0% at 36 months and also attractive is 0.9% for 48 months. That's about $250 interest ($5.20 per month) on a $25K vehicle. Get a 4-Year loan and pay it off in 3 years if you can...
 

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My truck after taxes will be ~39k. Can I finance even more like those that trade in cars they owe more than its worth? 0% is 0%!
Maybe, but I kind of doubt it. These loans are secured by the purchased vehicle. Seems to me Ford would be reluctant to go very far (if at all) above the value of the collateral.
 

MakinDoForNow

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Question: Where are you folks finding Ford 0% financing? Entering my zip code on the Ford website/Pricing and Incentives, the finance rate is 5.9%. I too was intending to do an all cash deal, but as the previous poster mentioned it's "free money" at 0%.
5.9% is for 84 months. Click on 36 month for 0%. 48 month is 0.9%
 
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What happens if I accidentally miss a payment due date?
 

pxpaulx

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You need to click on "36 month" to see the 0% offer.
The Ford site also defaults to a lease calculator. You need to set it to the finance calculator to see the competitive rates.
 

mrjspence

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Fair question. I just HATE having a car payment. LOL

Like I said, I'm probably just going to pay it all upfront but curious about my options. Thanks!
i agree 100% we paid all cash for our 2020 escape hybrid AWD. The finance guy was really trying. But I, like yourself, enjoy the mindset of not having auto debt. Keeps debt, inquiries, lowering avg. credit age, etc. off my credit report, too. Also, insurance is lower. I think people who can’t pay cash are usually the ones who rush to the “why pay cash, you can grow it faster by investing it just say that as a herd mentality thought.
 

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5.9% is for 84 months. Click on 36 month for 0%. 48 month is 0.9%
Insane rates. Canada, we are getting absolutely screwed.

3.99% finance, up to 72. 4.99%, 84.

4.49% lease, up to 48.
 

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I think people who can’t pay cash are usually the ones who rush to the “why pay cash, you can grow it faster by investing it just say that as a herd mentality thought.
The OTD price of our Maverick is ~3 weeks of income for my household. Needless to say, we would have no issues whatsoever paying cash for several dozen Mavericks. I'm extremely debt averse, but paying off my home in 4yrs was one of the worst financial mistakes I ever made. If I see hundred dollar bills on the ground, I will expend the effort to bend over and pick them up.
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