It depends on the promo rates vs non-promo/cashback rate. If the promo is 0% and they offer $2000 cashback on a $50K vehicle then you'd need a 1.6% non-promo interest rate to take the $2000 and break even with 0% financing at 60 months. At the time if I took the $2K then the non-promo interest rate was 2.39% so it would've cost me $1000 more over 60 months to take the $2k. Most other options for financing were similarly between 2.2% to 3% at the time. In all cases 0% was less. If the difference is $500 or less over the course of 5 years then I say who cares? Not even worth the refinancing effort.
Ford offering 2.9% for 36 months or 8.9% for 84 months
- Thread starter PWMDMD
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I just checked vroom, and my jeep went from instant cash offer $22016 3 months ago to $25019 now and of course its 3 months older and 2500 more miles.
So I would say now is the time to buy cars that typically sell close to msrp subaru, honda etc.
and avoid cars that were selling for 10k off.. such as cherokee, and ram.
because the honda and subaru are still selling for (msrp-$1k) to msrp
and there is no 10k off rams.
unless of course you can find a deal.
So I would say now is the time to buy cars that typically sell close to msrp subaru, honda etc.
and avoid cars that were selling for 10k off.. such as cherokee, and ram.
because the honda and subaru are still selling for (msrp-$1k) to msrp
and there is no 10k off rams.
unless of course you can find a deal.
The question is do you believe you will be getting 10-12 k off msrp from today or from what the new msrp is in a year or two.
I don't believe for a second msrps won't be going up- and in some cases by a lot...
Bought a new car a week ago. Manufacturer hasn't rolled one off the line in over a month. Pricing was the same as it was 4 months ago at the dealer I bought at, but most other dealers that is not the case. Have to know what you ate doing I guess...
Everyone is getting hit, but the Big 3's trucks seem to be most severely impacted. With that said, the dealer I bought my truck from is still offering $8K off (instead of the usual $12-$14k). It really depends on what you are buying.
This is the way, but we live in a society of "Keeping up with the Joneses"I bought my last new vehicle in 1995, and drove it for 19 years! I bought my current 2005 vehicle used in 2014 for $7,000 and still “rocking it“! 2 daily drivers in 26 years! I lean more toward Clark Howard than Dave Ramsey!
These low interest rates are not going to continue. The stock market has gone crazy lately and there is a demand for everything due to Covid. There is somewhat of a shortage of everything and people have obtained the stimulus money and are working from home. Boats, campers, trucks, cars, and almost everything has gone up in value tremendously. Inflation is getting out of site too. I feel everything is somewhat over-valued and we are due for a correction. Housing is getting out of hand too. I don't know if wages are going up as fast as inflation. One of these days I feel we will see the bubble burst. Hopefully wages will increase in order for everyone to afford these new cars and/or payments. As for Dave Ramsey......IMO his advice is rock solid for most hard working wage earners trying to scrape up an honest days wages.
No 0% financing, NO SALE. Sure narrows the field for me.
Wow. 6 months ago (10/2020) from Mazda I got: 3 months deferred payment and 0.9% for 60 months. How things have changed in a few short months.
The average price for a home in one town on the cape in MA went from $557,500 to $1.78M or a 218% increase from this time last year! Of course, that's somewhat of a special case. I live in central MA in a sleepy town of 17k and the average price of a house went from $320K to $420K compared to this time last year and on average homes are selling for 20% over asking.
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