Monthly payment

[Xbbqpitmaster]

$0.00

my 2022 order was never completed by the dealer, so it was never built.
my 2023 order was built 3 months after I bought my 2023 Kia, so the ex bought the Maverick. She had problems the dealer could not fix, so she sold it and bought a Honda CRV.
my 2024 order is still getting the 45 day emails. I will decide later if/when it gets built if I will buy it or not.

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[AutobahnSHO]

Zero. Waited a long time so planned for it.

Avoiding any and all debt. I was broke for 16years because of it- never again! Just have the house loan which we're aiming to pay off in 1/3 of the time we signed. BTW people paying interest on credit cards pay my rewards so we can buy Christmas stuffs every year without spending anything.

 

[AutobahnSHO]

At the end of June, I borrowed at 6.05% from PenFed Credit union for 72 months. The internet rates are about the same now. The dealer wanted 7.99%. Very easy to do business with.

A nice feature is that when you pay extra, they move the due date of the next payment forward. My next payment is due in October 2024. Ford Credit does not do that.

If extra is not going to principal, you're still paying a lot in interest even if the loan ends early. Would be better to make principal payments, so the compounding interest gets slashed.

 

[Montauk]

Seems that Maverick truck club members are not a typical sampling of average car buyers.

Lots of paid-cash / large downpayment / shuffled, traded, sold & made profit situations reported.

Most people that have to buy cars right now are buying questionable used cars for 10-20k and paying over 10% interest which is scary and horrible….

I confirm I’m old when I hear myself say it’s a shame what this world is coming to. My first car was worn out but was $300 back in 82. Now a worn out starter is 8k or more.

Anyway. Maybe when I get my Mav it will be next summer, there will be a surplus and some kind of incentive. Not looking forward to over 7% interest.

 

[Mainer500]

I am completely not surprised that everyone replying has either paid cash or got a Ford Credit promotional interest rate locked in from '21 or '22.

I doubt these replies are useful or interesting to the OP.

Good point because my wifes 22 XLT AWD with the Luxury Package moon roof, 360 plus all the other stuff I added, with only 3 grand down, the interest rate at 1.9% for 60 months is $488.21. Not bad compared to the 7.57% at the moment with Ford, but my bank is 5.9%. I'm pretty sure if that holds I'll go with them. I just paid my F-150 off so I've got some "free" money to play with.

 

[HiltD]

What are ya'll paying per month? I am financing a 2023 ecoboost. $33k after taxes fees. Trading in my car for a minimum of $8.5k. $5k down. 7.7% interest rate. $379 per month.

Just picked up my 2023 XL 2.0L. Put $3k down, $444/mo. Not loving that payment, but I can live with it.

 

[thehazguy]

2022 XL - no options. Received in 4 months. $15,000 down. Ford credit .09%

$222.00 per month. Only owe $5900.00

 

[surfstar]

Monthly payment questions are useless. Term + rate.
I could say $1 or $2,000 - that doesn't tell you a darn thing.

And you can hate me, but I don't mind the schadenfreude of watching people surprised by the payments of 7%+ interest rates when their Mav finally came in -those people are much more likely to have ordered a Lariat than an XL, from what I've read. If you have champagne dreams, don't have a coors light budget.
(if you're disciplined enough to know an XL is fancy enough of a truck, its much more likely that you have savings and could pay in cash if the rates suck - at least that's my theory)

 

[TheGoodEgg]

So if you run the number in a loan calculator you will find that 7-8% interest on a loan value of $23,000 can be quite substantial - about $4,800 interest payment over the loan life. And I can't imagine. the truck is an appreciating asset (gaining its value) so I would save every penny I got and pay the car loan off as soon as possible.

 

[ladyhawkgt]

I just looked at Navy Federal, and their rates today (for new) are 4.74% if your loan is more than 3 years and no more than 5. So for me, I expect to finance between $15k and $20k, my payment would be between $281.29/month at the least and $375.05/month at the most for a 5 year loan. Best case scenario

i used NFCU and I got 5.24 for 60 months. I have excellent credit(800+) but i have never had aloan before so that ding'd me for 4.74.

 

[Jman79]

XL Eco w/ hitch, will close to $

Monthly payment questions are useless. Term + rate.
I could say $1 or $2,000 - that doesn't tell you a darn thing.

And you can hate me, but I don't mind the schadenfreude of watching people surprised by the payments of 7%+ interest rates when their Mav finally came in -those people are much more likely to have ordered a Lariat than an XL, from what I've read. If you have champagne dreams, don't have a coors light budget.
(if you're disciplined enough to know an XL is fancy enough of a truck, its much more likely that you have savings and could pay in cash if the rates suck - at least that's my theory)

In a nut shell "Live a debt free life and lower your standards in order to do it if that's what it takes", I second that. It's true what is a given rule in finance, that you'll reap rewards down the line if you can maintain discipline early on.

Part of the problem is everything pumped into our eyeballs now a days is telling people the opposite of that golden rule. Implying that carrying debt is normal and even beneficial "building credit". At the same time convincing them that they need things that they don't even really want. It kinda drives me bonkers ‍.

$0

 

[mspmms]

$595.95 / 36 months at 0%
Payment progress: 30% - the current payoff amount = $14,898.50

 

[Bob The Builder]

Around 200 bucks a month (5.2% INT) which is super cheap considering how the dollar is losing its value each month at an astonishing rate.

 

[colinl]

Just have the house loan which we're aiming to pay off in 1/3 of the time we signed. BTW people paying interest on credit cards pay my rewards so we can buy Christmas stuffs every year without spending anything.

People paying interest aren't paying your rewards, or mine. The 3% transaction fees are. Merchants are petitioning the courts to remove the fees, and if they win, I'm sure the rewards will be significantly less or completely eliminated.

Regarding paying off your residence early it's largely a factor of what it's worth, what you owe, and your interest rate. My rate is 1.75% (October 2021) so I can do far better than that investing instead of prepaying, and mortgage interest is deductible.

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