$1,768 a Month, with $10,407 Down, 5% APR, on a Ford Pickup? | |
Anonymous Coward User ID: 83962627 United States 12/06/2022 04:59 PM Report Abusive Post Report Copyright Violation | ... Quoting: The Årtist Or actually be a well qualified borrower. This shit is so simple I don't get it. 100K for a vehicle is peanuts if you actually know how to make money instead of bitching about how the system is "rigged". It's not rigged at all. Put $50,000 down, finance at 0% APR with an 830 credit score and an income of $55,000 a month and bam. And yes, $55,000 a month income is sooooooo fuckin easy to do. You're only making $55,000 a month? Sorry, but you're doing it wrong! LOL. I’m sure he isn’t making that in a year. In a way you're correct. I'm not doing anything to "make" that much. It's all passive at this point. Never underestimate the power of India not understanding US copyright laws. My wife makes more than I do. Our taxes are a nightmare... you think your taxes are high... The thing about naysayers is this, they're usually incorrect. They think they're the smartest in the room. They're easy to spot and they all are the same. And to the person making more than me, that's freakin AWESOME. Good for you! When you just throw out 55k a month and tell people it’s easy to make that and then don’t explain how it make you seem like a BSer. Why not just explain? |
Anonymous Coward User ID: 5763123 United States 12/06/2022 05:00 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 83947785 United States 12/06/2022 05:00 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 70279414 United States 12/06/2022 05:10 PM Report Abusive Post Report Copyright Violation | [link to wolfstreet.com (secure)] Quoting: CharlieFoxtrot To illustrate the data we’re going to look at in a moment, I “built” a 2023 model year F-250 Lariat on Ford’s website: MSRP $104,070. I could build something more expensive in the F-350 lineup. Ford suggested to finance it with Ford Credit. With a down payment of $10,407, and a term of five years, at 5% APR, I would end up with a monthly payment of $1,768. Screenshot from Ford’s website: [imgur] [link to imgur.com (secure)] Strange Math. After 10,407 = 93663 + 5% 4,683.15 = 98346.15 by 60 months 1,639.10 12,417 tad more than 5% i'd say. lol |
Anonymous Coward User ID: 36614289 United States 12/06/2022 05:37 PM Report Abusive Post Report Copyright Violation | FFS people, use that money to buy a second HOME to rent out to the typical person out there who has poor credit and has no choice but to accept paying HUNDREDS of dollars extra each month to YOU the landlord just to enjoy a home for them and their children. Quoting: Anonymous Coward 84888650 Nobody needs a truck costing as much as a home. Buy a second hand truck for much less money if you need to haul things for you bird house building hobby or hauling soil for your gardens. Come on people! Don't enjoy your money, invest in someone else's poverty to exploit because they have no choice. Brought to you by The GOP, the righteous and Godly party even though God abundantly dislikes rich people, I wonder why. It must be so easy to say that in this current system we are stuck in, while you already have your retirement funds. |
Anonymous Coward User ID: 84871801 United States 12/06/2022 05:37 PM Report Abusive Post Report Copyright Violation | When my parents bought a house in Palm Bach County in 1984 it cost $50k Quoting: Anonymous Coward 79157073 My dad was a mailman and we could barely afford that. He made around $45- $50k a year if I remember correctly. That payment was about $500 month and we almost went into foreclosure. I dont know how the hell people are doing because salaries havent gone up that much.. You don't remember correctly. No mailman made that much in 1984. Many of them don't make that much now. |
Anonymous Coward User ID: 36614289 United States 12/06/2022 05:39 PM Report Abusive Post Report Copyright Violation | [link to wolfstreet.com (secure)] Quoting: CharlieFoxtrot To illustrate the data we’re going to look at in a moment, I “built” a 2023 model year F-250 Lariat on Ford’s website: MSRP $104,070. I could build something more expensive in the F-350 lineup. Ford suggested to finance it with Ford Credit. With a down payment of $10,407, and a term of five years, at 5% APR, I would end up with a monthly payment of $1,768. Screenshot from Ford’s website: [imgur] [link to imgur.com (secure)] Strange Math. After 10,407 = 93663 + 5% 4,683.15 = 98346.15 by 60 months 1,639.10 12,417 tad more than 5% i'd say. lol Doesn't work like that bub. Hint, google Amortization Schedule. Then go become familiar with the various types of interest credit options. |
Anonymous Coward User ID: 84820047 United States 12/06/2022 05:41 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 80878362 Netherlands 12/06/2022 05:41 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 80649630 United States 12/06/2022 05:44 PM Report Abusive Post Report Copyright Violation | [link to wolfstreet.com (secure)] Quoting: CharlieFoxtrot To illustrate the data we’re going to look at in a moment, I “built” a 2023 model year F-250 Lariat on Ford’s website: MSRP $104,070. I could build something more expensive in the F-350 lineup. Ford suggested to finance it with Ford Credit. With a down payment of $10,407, and a term of five years, at 5% APR, I would end up with a monthly payment of $1,768. Screenshot from Ford’s website: [imgur] [link to imgur.com (secure)] Sounds like they lost someone very important and are trying to use mammon to force capitulation |
Anonymous Coward User ID: 77422549 Hungary 12/06/2022 05:46 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 45422162 United States 12/06/2022 05:46 PM Report Abusive Post Report Copyright Violation | FFS people, use that money to buy a second HOME to rent out to the typical person out there who has poor credit and has no choice but to accept paying HUNDREDS of dollars extra each month to YOU the landlord just to enjoy a home for them and their children. Quoting: Anonymous Coward 84888650 Nobody needs a truck costing as much as a home. Buy a second hand truck for much less money if you need to haul things for you bird house building hobby or hauling soil for your gardens. Come on people! SHUT THR FUCK UP! You are going to ruin it for those of us with a BRIAN! |
Anonymous Coward User ID: 77075251 Canada 12/06/2022 05:49 PM Report Abusive Post Report Copyright Violation | So fucking what, I paid 84k for a 2022 Gmc 1500 Denali, love this truck. Seems to me people are charging enough for their labour. 5 uears ago I was charging 50/hr for carpentry/reno work, today I charge 85/hr for the same work. Clients that don't like it can call a brown guy, and when they call me to fix the fuck ups I will charge them 100$/hr I love triggering liberals, had a bid on a job, and the owner calls me up and says we like you but your qoute is 25% more than everyone else, why is that, if you can justify the higher cost we will go with your offer, so I told him the truth... "I add 20% to all contracts for Trudeau supporters you have a liberal party sticker on your Volvo, because you political choice has ramifications in the cost of doing business in Canada I offset thise costs with a liberal fee because you have three choices, my bbb acredited 25 year company, or the 3 immigrants you shared my numbers with to find a better deal. Let me make this easy for you I dont need your work, nor do I want it, good luck with Mohamed on your addition, next time vote smarter. Fast forward 6 months, he calls me back and begs me tobtake over their project, as the immigrant dream team started the job and failed inspections over and over again. He lost 50k to the crooks, so me being a nice guy and hating to see a fellow white man get fucked over, so I took the contract, finished a week before I said I would. They are super happy and got 3 references from them haha! |
Anonymous Coward User ID: 80269194 United States 12/06/2022 05:50 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 80649630 United States 12/06/2022 05:50 PM Report Abusive Post Report Copyright Violation | FFS people, use that money to buy a second HOME to rent out to the typical person out there who has poor credit and has no choice but to accept paying HUNDREDS of dollars extra each month to YOU the landlord just to enjoy a home for them and their children. Quoting: Anonymous Coward 84888650 Nobody needs a truck costing as much as a home. Buy a second hand truck for much less money if you need to haul things for you bird house building hobby or hauling soil for your gardens. Come on people! It is insulting isn’t it? It’s like they are taunting Americans |
Anonymous Coward User ID: 84776670 India 12/06/2022 05:53 PM Report Abusive Post Report Copyright Violation | [link to wolfstreet.com (secure)] Quoting: CharlieFoxtrot To illustrate the data we’re going to look at in a moment, I “built” a 2023 model year F-250 Lariat on Ford’s website: MSRP $104,070. I could build something more expensive in the F-350 lineup. Ford suggested to finance it with Ford Credit. With a down payment of $10,407, and a term of five years, at 5% APR, I would end up with a monthly payment of $1,768. Screenshot from Ford’s website: [imgur] [link to imgur.com (secure)] Strange Math. After 10,407 = 93663 + 5% 4,683.15 = 98346.15 by 60 months 1,639.10 12,417 tad more than 5% i'd say. lol No thanks. I'll keep my paid for twenty year old Chevy truck and buy a 4 plex. |
LTHN.
User ID: 84825684 Canada 12/06/2022 06:30 PM Report Abusive Post Report Copyright Violation | [link to wolfstreet.com (secure)] Quoting: CharlieFoxtrot To illustrate the data we’re going to look at in a moment, I “built” a 2023 model year F-250 Lariat on Ford’s website: MSRP $104,070. I could build something more expensive in the F-350 lineup. Ford suggested to finance it with Ford Credit. With a down payment of $10,407, and a term of five years, at 5% APR, I would end up with a monthly payment of $1,768. Screenshot from Ford’s website: https://imgur.com/YGq298w Jesus. My neighbor/friend has a 2022 F-450 Platinum and his wife is rolling in a 2021 Escalade 600 Platinum. He spent 260k on these trucks, he has a 2020 Hellcat and about 18 months ago bought a 36ft Mako center console fishing boat. Thats about 1.2 mil worth of leverage he has against him. He makes fantastic money but not that fantastic. I have.... 97 Landcruiser 97 Tahoe 2 dr Z71 97 F350 SRW CC 7.3 4x4 2006 Duramax LBZ Dually 2001 Excursion 7.3 Eddie Bauer 2011 Ram Cummins 6.7 2500. All these beautiful trucks that I own, you could add up what I spent purchasing them over the years and it may come out to about 65k. All these trucks have been bulletproof and a pleasure to work on and drive. Now...... I did spend almost 80k back in late 2017 for a 2018 Chevy Duramax Dually 3500. Beautiful truck. Powerful, luxurious, black on black, so many little doodads and technology packed into that truck. I loved it Then 3 months later with less than 20k it broke down. The rear-end pinion wasn't properly assembled and it gave out on me while hauling 12k of trailer and wood. This started a chain of events that led to my truck leaving me on the side of the road more than a half dozen times with various issues from the DPF to my truck putting itself in limp mode due to problems. I will never, ever spend 100k on a new diesel. Nothing against those that do but I just can't justify it again. Even if it is a business truck that can be written off. Besides, if I open the hood and can't see the motor due to all the computers and emissions equipment.... I work on my own shit and these new trucks make me feel like I have to be a highly trained 200 dollar an hour tech to work on them. Just my .02 cents. I will say that all the new Ford, Chevy, and Dodge diesels are beautiful and insanely powerful but too rich, too complex, and too off the map from what a diesel truck was orginally meant for. Simplicity, torque, reliability, and ease of maintenance. You should just copy and paste this in your signature, Would save you a lot of time from typing it on EVERY FUCKING AUTOMOTIVE THREAD that pops up here. I thought I changed it up a bit. What can I say, I'm a creature of habit. Those habits have helped me in life. I'll be sure say hi to you next automotive thread where I can once again bitch and piss and moan about new vehicles and their prices and unreliability. I'll be sure to type it word for word since you enjoy it so much Cheers, I love you "A wise man listens to the message and uses his logic and discernment to process it, a fool negates the message by prejudging the messenger." "He whose centre is everywhere and whose circumference is nowhere." |
Anonymous Coward User ID: 80146285 United States 12/06/2022 06:37 PM Report Abusive Post Report Copyright Violation | When my parents bought a house in Palm Bach County in 1984 it cost $50k Quoting: Anonymous Coward 79157073 My dad was a mailman and we could barely afford that. He made around $45- $50k a year if I remember correctly. That payment was about $500 month and we almost went into foreclosure. I dont know how the hell people are doing because salaries havent gone up that much.. Pretty sure your dad had a drug or gambling problem, when I was 19 I easily paid for a $850 per month apartment making $17 per hour. |
Anonymous Coward User ID: 84875721 Canada 12/06/2022 06:44 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 81875536 United States 12/06/2022 06:45 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 84722255 Mexico 12/06/2022 06:48 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 78690999 United States 12/06/2022 06:54 PM Report Abusive Post Report Copyright Violation | Are you bragging or complaining? That's what an F250 cost. I don't see your point. If you finance it it's $1768 a month. Its a simple math problem. If your not making the money to pay for it you don't need it.. Stop crying like a little bitch. |
Anonymous Coward User ID: 84645796 United States 12/06/2022 06:58 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 84798253 United States 12/06/2022 07:07 PM Report Abusive Post Report Copyright Violation | whats even crazier is driving around the small, rural town i live in of about 9-10,000 people, almost everyone seems to drive one of these giant ass brand new trucks of SUV's, even kids seems to have them. Quoting: 1-2-Follow either they are WAY richer than i am, or just in uncontrollable amounts of debt. |
I Object
User ID: 77170769 United States 12/06/2022 07:08 PM Report Abusive Post Report Copyright Violation | Family member lease just ran out and working. Needed a reliable vehicle to last for work travel and for harsh weather conditions. Just got a Toyata Rav4 Hybrid $40K 2022 loaded because someone had ordered it and ended up not getting it. Still way over priced, but seemed only choice out there for reliability and need for work. ......................................... Constitutional Conservative ......................................... |
Anonymous Coward User ID: 84798253 United States 12/06/2022 07:14 PM Report Abusive Post Report Copyright Violation | $$$$ Quoting: Anonymous Coward 83771122 “Front loading Fraud” Someone said 4 of 12 payments go to interest At 5% that would be impossible unless they are using the oldest illegal trick in financing: FRONT LOADING INTEREST This is when interest is charged unfairly as a ratio in the beginning of the loan to maximise profit, mininimize defaults and they do it in plain sight because 99% don’t understand the math At 5% the interest in year 1 is 5k At year 2… the new principal is about 83k, cause 2 payments went to interest and 17k to principal (10 payments) So in year 2 the interest is LOWER cause it’s 5% for 83k balance So that’s 4,150 interest in year 2, REDUCING EVERY MONTH since your principal gets reduced every month and your equity increases Year 3 sees another principal reduction to 66k… another 10 payments to the debt and 2 months approximately for the ever-reducing interest (5% on 66k in year 3) Year 4 goes to 49k (actually even less cause the debt is now halved) so it’s more like 47k cause only one payment services the lower interest Year 5 is about 28k left… and after those last 12 payments you get to about 10k Your down payment My point is this: the ratio of principal paydown to interest service should be FIXED with only the INTEREST reducing monthly as principal reduces monthly But look at any amortization schedule It’s front loaded and the interest is not adjusted to reflect that 5% on 100k SHOULD BE REDUCED as the debt is reduced by each payment It’s treated as a constant cost- you are paying interest for 100k for 5 years straight like you ARE NOT paying off principal I sued Lexus for this You are getting cheated // |
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Somnium
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Somnium
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sorrow'sTear
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