[zaimer]

Their payments are going to be much higher. All of a sudden they’re out of the market.

Bingo. Same things is (and has been) happening in the real estate market. That family that was shopping for their home now has to pay the same mortgage payment, but with accepting a lesser property.

 

[zaimer]

Plenty of people pay cash so I wouldn’t care.

With the current state of interest rates, that will encourage a shift to cash buyers vs. financing. There are many feasible places to safely park money at such a (guaranteed) return.

The customers who will be/already are affected the most are those banking on the monthly payment and/or purchasing above their means. The real money isn't as affected in terms of expense, it is more of a financial (planning) shift.

 

[zaimer]

America when its was wealthy had assets that far exceeded liabilities. That is most certainly not the case any more. Except many of our politicians do not see that! As long as one owes more than one has one will never prosper. You can't have money as long as you owe more than you have!

The average Joe has no idea what "wealth" even is, are how it is properly defined. People can be perceived as being wealthy, yet are actually quite poor. That is the difference between having cash flow vs. having actual net worth. Much of America displays (and aspires) to be part of the former, with minimal focus on the latter.

 

[zaimer]

Yeah, but lots of people waiting to snatch them up. I would not bet on “lots” of Hellcats being available.

Yeah, these cars aren’t going to sit on the lots long..unless the dealer is looking for crazy ADM.

 

[zaimer]

We need a C8 owner here to educate us. Long in the tooth my eye.

Did I miss something 🤔

 

[zaimer]

6.52 thru my dealership last month. Wells Fargo. 60 months 20%down.
Back in 2009 purchased a Dodge 3500 truck for 0% down 0% interest. Those were the days my friend, I thought they would never end...

That is very high for great credit - I almost think I would've let the car go at that price. That's an estimated $175+ per month in interest, and nearly $11k in interest over the life of the loan (assuming it is seen to maturity).

Last month 2.99% was possible IIRC.

 

[zaimer]

In the 5's today at my credit union -
Auto Loan Rates & Calculators | New, Used, & Refinancing | PenFed

You guys have to learn how to shop around:

 

[zaimer]

Who has those rates?

Interior Credit Union out of Virginia. Anyone is able to join, unlike some of these "insider" rates that we are seeing on here.

 

[zaimer]

I don't think anyone is able to join that. From this who is eligble link

Membership

Sign up for membership and it will help you save time and money. If you're passionate about the National Parks, we're here to serve you! Don't wait!

www.interiorfcu.org

You can become an Interior FCU member if you or your immediate family members:

• Are a Department of the Interior employee, contractor, or volunteer…that’s right contractors and volunteers!
• Volunteer at one of the National Parks (one time for at least 3 hours)
• Join through the New Mexico Wildlife Federation.
• Are an employee or volunteer of one of the following groups

Yeah, you join the NM Wildlife Federation.

Anyone can join.

 

[zaimer]

And joining NMWF is free.

Most credit unions have 1 membership path that is basically open to everyone. It usually does involve joining some charitable organization. Ever notice most CDJR's give a .5% discount if you have been a member of Tread Lightly for at least 30 days? There's always a little known incentive/pathway.

Finally a guy that knows. 🙏🏼

You’re preaching to the choir. I could spend hours giving advisement on tips/tricks (whatever you would like to call them), but it usually results in arguments or people writing me off altogether.

 

[zaimer]

So where are these places to park money for amazing GUARANTEED returns?

I meant there aren't*** many places. Borrowed money isn't terribly cheap right now, especially if a guy is looking at financing at 5%-7%.

 

[zaimer]

That's not what I was talking about. You were talking about guaranteed returns. So where are these places?🤣

A guy who chooses to pay cash for a car versus financing at say 6% has no return?

OTOH - say you were to invest that car money and receive that same 6% ROI. You still have to shave taxes off of that money so you're not getting the full 6%.