Just wondering how much it would be to get one of these AMAZING Trucks?!? Let me know what you've heard : )




Future F-150 owner

 

It'd vary so much based on what you're comfortable paying monthly, which in turn is affected by financing terms. I'd say better your financing terms, smaller your down payment should be. Keep in mind that buying a car is like throwing 20% of your money out the window as soon as you take delivery. Cash should make up as little of that 20% as possible.

 

WHAT!!!!!!!!!!!!!!!!!!!!!!!!!!

I would like to know where you get your financing info?
Cause its way off!
You want to finance the least amount! The smaller the down stroke the more interest your paying and the longer your going to stay in negitive equity! IT'S A FACT! The smaller the down payment, the more your in negitive equity. You said it your self, you lose 20%, so why would you want to walk into negitive equity by putting a small or no down payment.
Simple, think about it. Think about if its totaled and you dont have gap coverage? you now owe money on something you dont have, its salvage now!

You want a secret. You want to know the best way to buy a vehicle. the way that is the cheapest.

LEASE for the first few years then buy it.

WHY you ask?
Cause you get to use someone elses money and you dont even pay interest on it. Yes its true. when you lease you are only paying interest on the amount of the lease. Not on the whole amount financed. yeppers its true!
I know alot of people are going to say that thats not the best way to buy a vehicle, something about mileage. Dont worry about the milage cause your going to buy it anyway.
Its proven, you save money after all the payments are added up with a lease and then buying the lease, then just financing for 5 or 6 years. Its true!
One last thing
If you put a small down payment down, an amount that does not even cover the tax, your paying interest on TAX.
Man I dont want to pay interest on Tax

 

Like I said, better your financing terms, smaller your down payment should be. I understand that more you finance, more interest you will be paying. But better financing terms, such as the recent 0% financing, allow you to carry more debt without being killed by interest. Cash money you put down on a rapidly depreciating commodity is basically dead money. It's not only locked into the truck -- short of selling it, you can't access it -- but it's also rotting away (depreciation). When there are banks (such as INGDirect) offering 3.5% interest on savings account, I'd rather park my money there if I can get good financing deal.

 

I put 10,000 as a down payment, my mom paid the Tax Title and Lisence as a College Graduation gift and in Feb 01 I bought mine at 8.25% interest and my payments are 330 a month for 60 months. Granted im only 21 and this is my first vehicle purchase....

 

Another secret is that Ford does not charge those goofy origination fees when you lease. I was going to lease an L then buy it back, but the monthly lease payment was still too high for my current budget.

 

Here Here:

I agree with Chaen, totally.

With financing can be paid off early without any penalty. What some people overlook when finacing over leasing is that you have ownership of the vehicle and it becomes equity to be put on an asset side of the balance sheet. Also, a depreciation allowance is realized which is a non cash expense for addtional writeoffs. IF THIS IS A COMPANY VEHICLE that you are planning to keep for longer than the term of the loan or lease.

Leasing has it advantages for larger companies like fleets.

Have you money work for you so if you can deposit it at 3.5% and finance at 3.0% sounds like good advice to me.

Good Luck and in the end they are a joy to own and drive.

No matter how you get it'll be worth it, it is to me at least.

Hope you get one!!!

Jim C.

 

I studied Economics and Finance at UC Santa Barbara and now work as a CPA with one of the Big 5 and no it is not Andersen.

Generally you can lease with little or nothing down and your interest is lower then it would be if you would finance it. Keep in mind that you do pay tax on the lease but it is on your monthly payment so the tax will vary with how low or high your payments are. With a lease you can purchase the vehicle at any time, thus if you win the lottery, inherit something, or marry into a wealthy family, you can pay it off and your only expense is the interest you paid.

If you can get 0% do that. You have no cost of borrowing it is like borrowing for free. I would put little or no down with the 0% financing becuase again the more you can finance at 0% the better. Heck, I'd finance a million dollar home at 0% before I would finance a 300K home at 10% becuase in the end you would pay the same for both.

Just remember, what ever rate you can get depends on your credit rating. And also, cash you put down goes to the dealers so they will always try and convince you to put more down even if you don't need to, and they will use lower payments as an excuse for you to do it. If they know you have cash to put down, they will start with a higher asking price or won't go down as much as they would if you had no cash. They know you can finance the rest. They will try to make you finance the most you can, and take as much cash from you.

So it is always better to tell them you have little cash, and get the best rate whether it is a lease or a purchase and to pay your car off early. Even if you have $10K to put down, tell them you have three or whatever gets you the lowest interest rate, then invest the rest or put into savings, and when you can buy it off for that last 7K, pay it off at the end. (It will be sooner then your lst $7K worth of payments since you won't need to pay interest for that time period).

Result is you have negotiated a low interest rate with little or now down, earned interest on what you didn't put down (DON'T SPEND IT, SAVE IT), and saved interest by paying off the loan early.

I've bought 5 cars in the last 8 years so I know how to deal with salespeople, dealers, and save money. Only one was a purchase, the rest were leases. I never put more than $3K down, I've never been over 12% on financing (that was the first one), and I've paid them all of early with the exception of the HD which I am still paying. And right now is a great time to buy as dealers aren't selling s**t.

Good luck!

 

I am lost!!

the down payment is the dealers money!
so If i walk in and and I buy a truck at $30,000 and I put down $10,000 and I finance $20,000 , let me get his right "the dealer keeps $10,000" and if it cost the dealer $27,000 they get to keep $10,000...Dont the dealer still have to pay the $27,000 cost of the truck.

Dealer keeping money don't sound right to me

Now if you get a truck for $30,000 and you put down $10,000 and you finance $30,000 yes the dealer get to keep the money!
you know why cause you signed the paper. You paid $40,000 for the truck, yeppers you paid $40,000 30k plus the 10 k you put down. More power to that dealer!!!!!!!!!!!!!

 

It is obvious that the dealers have to pay Ford for the truck. However, buyer be ware.

When the salesperson asks you how much you have to put down, and you tell them, they have an idea of how much you need to finance. Especially once they run your credit check.

Remember:
Income determines how much they will lend you.
Credit Rating determines how much it will cost you to borrow $$$ (interest).
Downpayment helps determine how much you will finance yes but also how much they can sell a truck to you for.

If you go in and say I have $10K to put down, and your disposable income (income less expenses) determines you can afford a $36K truck, hey you don't need a dwonpayment to finance the truck. So the salesperson mess with you, and say, I have to go talk to my boss (which they don't, they go talk to another salesperson) and they come back and tell you "with your credit, you need more down (which is BS most of the time), the $$ down is profit for them.

Remember, once they've spent the time one you, they want to sell you the vehicle. Dealers also get kickbacks from manufacturer's for moving vehicles and for financing them. Thus, they don'y only make money of the car.

If you get a good rate, put as little down, they will have to bring the sales price down so that you can afford the car.

Screw the dealers. Remember, there are many dealers so you can always go deal with another one. In fact, many times I've gotten quotes from different dealers and the 1st dealer will match the price on the others just to move the car and get the kick back.

Never feel like there is only one dealer. Call around and never go in without being able to walk out. A HD is a big investment as is any car so don't let the dealers feed you any lines.

Remember, lowest rate possible, little down as possible.

And one more thing, most of the time, even the head finance guy does not understand interest. I've sat there with these people and calulated interest over the life of a loan and explained to them why I was not going to give them more money down. The guy sat there dumbfounded (granted it wasn't a Ford dealership, but still).

It is your money and they are there to serve you not the other way around. And remember, they don't do you favors so if they act like they are it is a lie. It is all about $$ in the end.

Find your own financing and then all you have to worry about is negotiating a price and now that you can find invoice price on edmunds.com, the consumer has a lot more tools than we did 50 years ago.

Again, good luck!

 

$0 down, $589 a month for 60 months. I don't care if it costs me more. Freaking dealer can wait to make money on ME!!!

Mike

 

I agree with the no money down. When I purchased my truck (used) I told the salesperson I had no money down and could only affoard a certain amount for a payment and litterally told them to run the math and make the sales price, tax, title, license work for that payment at 60 months. Now I ran the numbers before I stepped into the ring and and did not tell them exactly what I could affoard per month. So instead of haggling over a purchase price we haggled about a monthly payment. I wish I checked out a credit union for an interest rate before I went to the dealer. Credit Union rates were under 8% for used cars at the time and I could have negotiated a better deal (at least a quarter point).

 

You do pay interest on the entire cost of the vehicle with a lease not just the difference between the purchase price and residual but why would you lease or put anything down. I'm taking the 36 months at 0%, with NO down. It's free money over 3 years. I do lose the 1,000 dollar rebate but I save over 3,600 dollars in interest assuming a 5.7% loan over 3 years.

My dealer called Ford and said mine should be here around February 20, 2002. I'm kinda doubtful but that would be awesome. I just want it before 3/5/02(when the 0% financing is over).

Shane

 

if it does not come in by 3/5, could you still sign the paper work? I mean, they know the price right, and I am sure they have a vin # if they can track it and tell you when they expect it.

That way you would lock in the 0% financing.

 

The dealership told me I could not but if it comes down to the wire and I have a VIN# at that time I'm going to push the issue. They currently do not have a VIN number, only an order number and order date of 11/27/01. Because of some problems I had at my dealership the inventory manager made every to find me an expected delivery date but I'm concerned about how they determined Feb. 20th. My understanding from other posters on this board is that they will not be in dealerships until after February 28th.

Shane