Gen 3 finance rates.

[John813]

Its coming and its going to hit HARD. The entire economy is about to fall off the cliff. This will be a recession unlike anything weve seen since the 30s. Enjoy these next 8-10 months.

The national debt is meaningless and banks are too big to fail.
We'll just see billions more pumped by the Fed to string it along.

I don’t know if this is any indication but I was looking at a 22’ 37pp with 12k (CPO) on it at end of June. Dealer has lowered the price from 83.5 to 78.8 currently. These things are not selling.

There was a 21 37PP with 16k miles and no sunroof. Started at 83k, think it was a 77k before it's finally sold.

 

[K9 EXPERT]

I'm well aware.

I've had my money out of the market since last year. This is all a ponzi scheme with the Fed printing money and bailing out Banks and institutions behind the scenes. I'm amazed they've kept this thing afloat for this long.

Main Street occupied with the issues they want them to be focused on and not the real issue...Wall Street and the Government siphoning money out of the middle class.

Meat grinder.

I believe the economy will also crash, it simply cannot go on. Powell and Yellen are trying to string it out until the 2024 election. I got into the market in 1991 and stuck with it until 18 months ago, when I got everything out. Now it’s in a money market fund earning 5.3%, which is not even near the inflation rate.

 

[EndlessEight]

I believe the economy will also crash, it simply cannot go on. Powell and Yellen are trying to string it out until the 2024 election. I got into the market in 1991 and stuck with it until 18 months ago, when I got everything out. Now it’s in a money market fund earning 5.3%, which is not even near the inflation rate.

Without giving up too much information. Recently, I was very disappointed to hear a family member, who had their money out of the market for 18 months as well because of the same outlook, caved and put the money back in the market.

Out of being stubborn, I won't put my money back into the market being above where I took it out. Also, I'm seeing more and more financial media articles saying "Bull market" "Recession off the table" "forget about soft landing, no landing needed"....they want all the money off the sidelines to come back in so they can rug pull at some pre-determined time.

They've all probably colluded and agreed to not margin call each other right now. The leverage each of these institutions have across the table is incomprehensible.

 

[jeanco]

will be time to buy "CASH"
Problem,nobody know!

 

[K9 EXPERT]

Without giving up too much information. Recently, I was very disappointed to hear a family member, who had their money out of the market for 18 months as well because of the same outlook, caved and put the money back in the market.

Out of being stubborn, I won't put my money back into the market being above where I took it out. Also, I'm seeing more and more financial media articles saying "Bull market" "Recession off the table" "forget about soft landing, no landing needed"....they want all the money off the sidelines to come back in so they can rug pull at some pre-determined time.

They've all probably colluded and agreed to not margin call each other right now. The leverage each of these institutions have across the table is incomprehensible.

I was in the market a long, long time and learned very hard lessons. On of the most important is not to believe what the so called experts write. I think more often than not, the experts hope for an influx of buying so they can mitigate losses. Another lesson learned the hard way is, buy when everyone sales. Just before the dot com bust I kept watching many tech stocks soar and bought several. One was called egghead. For several weeks I watched the price skyrocket and caved to temptation. I forgot exactly how much I bought, but it was substantial. Within about two weeks, the company went broke, I lost everything. Luckily I held Sun Microsystems and a few others, which cushioned the blow, but thinking about it makes my stomach hurt. For me to jump back in with both feet, the DOW will need to drop to pre scamdemic levels, about 27000.
If I were much younger, it would need to drop to 30000. There are tons of people that need to start paying on student loans again and we still have a lot of free scamdemic money floating around. The commercial RE market is starting to crack and WHEN China takes over Taiwan it will be catastrophic for the market. IMO the only thing holding the residential RE market together is nobody wants to give up a 3% loan. Remember both Powell and Yellen said inflation was transitory and both still have jobs. I live in Idaho and help wanted signs are everywhere, even fast food is paying $18 per hour with a minimum wage of 7.25. Cash is king!

 

[Russ]

Bought a new Raptor last month, my rate is 7.1% for 5 years w/ 50% down. I have "perfect" credit (800+ FICO score). My other car I bought just a year ago is 3% and I think my Gen 2 I bought back in 2019 was around the same rate. Common knowledge at this point, but rates are definitely up even for those with great credit. The good news is I basically got the truck w/o markup in SoCal which is a small miracle (same thing in 2019).

 

[New recaros]

Basically? You did or you didn’t!!

 

[BIGW0RM]

Bought a new Raptor last month, my rate is 7.1% for 5 years w/ 50% down. I have "perfect" credit (800+ FICO score). My other car I bought just a year ago is 3% and I think my Gen 2 I bought back in 2019 was around the same rate. Common knowledge at this point, but rates are definitely up even for those with great credit. The good news is I basically got the truck w/o markup in SoCal which is a small miracle (same thing in 2019).

Me too. But 7.1 is very high bud. BOFA is offering 5.9 on there website. Since Ford will not finance a Raptor, I went directly to my banks and got my own loan. It took all of 30 seconds to apply and be approved. This allowed me to negotiable the price of my Raptor and not have to play the finance games with them. Plus its fun to negotiable truck price down. With them thinking they are going to stick me with some high 7-8% rate, only for me to present my own financing at the end...lol. I love doing that. Serves them right for trying to gaffe people all the time.


If anyone is looking to buy. Get your own financing from BOFA @ 5.9 before letting a dealer run your credit all over just so they can pad it and tell you 7-8%


EDIT:

It appear BOFA raised their rates to 6.29! Eek. That kind of changes things on my original reply.

 

[G2G3Iconic]

Im at 9% interest. Have always paid cash for my cars, but my portfolio did 15% average last year so I am at a net 9% loss on the cash I put in to buy the truck. Cars never make financial sense. Even when they appreciate.

 

[Aleja_333]

I bought my Raptor early June. Financed $25k at 5.3% (36 mo). Probably pay it off sooner than the 36 but we'll see what the market does.