Dealer wants my Gladiator

[ShadowsPapa]

lol…I’m literally dying over here lol.

Next time you or anyone you may know wants to refinance….send them to me lol. I have the money….I’ll give them $1 per month payment and tack it on the principal lol.

i get making an additional principal payment but you still pay more in interest by doing that on a 30 compared to a 15 or 10

what’s next…you advise people to get a arm…lol


btw….I live mortgage free…on all 3 of my homes….but what do I know…..

Depends on the comparative rates. If you get a much better deal on a 15, say it's a full point lower, then if you can go the 15 with higher payments it is a bargain. Sometimes there's not a lot of difference and not everyone is rolling in cash and gold coin like you are and need to look out for tougher times.

If you can afford the higher payments great, but people need to watch out for what-ifs.

btw….I live mortgage free…on all 3 of my homes…

Well goody for you - what do we compare next?

No payments for anything here, either. Acreage - paid for, Gladiator - paid for, 2021 Grand Cherokee - paid for........

I think your whole point was how rich you are, how great a money manager you are.......

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[LCF]

I think your whole point was how rich you are, how great a money manager you are.......

Not at all. My point had a lot more to do with you not knowing what you are talking about.

Making smart decisions with my money means I have more……that applies to everyone in the world lol.

Lower monthly - but extending the period out?
That lower monthly doesn't mean squat if that's all it is. If I had only 4 years left and trading takes me out to 6 again, well..........

????…..lol…..remember typing this….????….lol. You say don’t do this with a $50k to $60k loan but do it with a $300k plus loan…or whatever the home costs…I’m assuming it’s more than the vehicle you/they drive…????

Why pay 10 years of payments and then refinance that amount to 30 years lol ?????

Doesn’t matter if you make extra principal payments or not….you are still adding time to loan for the sake of lower payments??????

 

[Fastwake]

PAY CASH and be done with it

 

[NachoRuby]

Not at all. My point had a lot more to do with you not knowing what you are talking about.

Making smart decisions with my money means I have more……that applies to everyone in the world lol.




????…..lol…..remember typing this….????….lol. You say don’t do this with a $50k to $60k loan but do it with a $300k plus loan…or whatever the home costs…I’m assuming it’s more than the vehicle you/they drive…????

Why pay 10 years of payments and then refinance that amount to 30 years lol ?????

Doesn’t matter if you make extra principal payments or not….you are still adding time to loan for the sake of lower payments??????

To pay less per month. It makes sense for many many people. You do you. Others will do what makes sense for them. A lot more money now is worth more to a lot of people than a little more money later. Especially since interest is low and inflation is high. I think it will come as a shock, but the average person does not, and will not have 50k-60k (or even 20-30k) for a car or 200k+ for a house in their bank account at one time. If they do, they certainly don't want to part with it all at once, to have to start saving all over again. Most people don't make enough money to do these pie in the sky "smart investment" things. Even people with good paying jobs and dual incomes.

https://www.valuepenguin.com/banking/average-savings-account-balance

 

[LCF]

To pay less per month. It makes sense for many many people. You do you. Others will do what makes sense for them. A lot more money now is worth more to a lot of people than a little more money later. Especially since interest is low and inflation is high. I think it will come as a shock, but the average person does not, and will not have 50k-60k (or even 20-30k) for a car or 200k+ for a house in their bank account at one time. If they do, they certainly don't want to part with it all at once, to have to start saving all over again. Most people don't make enough money to do these pie in the sky "smart investment" things. Even people with good paying jobs and dual incomes.

https://www.valuepenguin.com/banking/average-savings-account-balance

I agree 100%. I’m not talking about paying cash for anything. Why use your money,when you can use someone else’s???

Only problem with your money now…less later is that having more now ….will cost you wayyyyyyyy more later.

Im also not trying to put anyone down or make them feel ashamed. I’m simply sharing facts about money.

And about people not having money to invest….plenty of people post on here…….lifts…wheels….tires….bumpers…..you get it. THERE IS YOUR MONEY!!!!!! You have to want to have money. It doesn’t just fall in your lap……

 

[Fishee]

Jeez this thread got hijacked...

 

[Gren71]

Ive had similar letters from y dealer. Even had them talk to me after I picked it up from my last service. I politely declined as I am very happy with my payment, term length, and options. Maybe a diesel could have swayed me but not in their current state, ive seen too many issues to want to trade for one.

 

[LCF]

Yeah…lol…my apologies for going wayyyy off topic. Just want people to make smart decisions with what they have. Don’t pay banks more interest then you have too….they won’t give you a better rate or deal because of your situation in life.

 

[Fastwake]

LOL CASH IS KING.

 

[Fastwake]

? you keep paying the bank to drive your Glad. I’m going on vacation with the money I saved not paying interest ?

 

[doc-ketamine]

I’m going on vacation with the money I saved not paying interest ?

And others will happily pay 1.9% APR on a vehicle loan while their cash earns 10% in investments. Paying cash for a depreciating asset when your cash can earn money instead? That’s the smart move.

 

[Gren71]

And others will happily pay 1.9% APR on a vehicle loan while their cash earns 10% in investments. Paying cash for a depreciating asset when your cash can earn money instead? That’s the smart move.

Indeed

 

[kevman65]

@Mr._Bill Dealership I bought mine from started emailing and calling me last year. Promising me the moon if I traded my truck in RIGHT NOW. I went in and they started their song and dance. I had printed out the initial email with a hard dollar amount and I slapped it down on the desk and told them I wanted THAT amount for my JT, I wanted it in writing, and I wanted the GM's signature and date on the paper. Told them I wanted to order a new JT the EXACT way I wanted, nothing extra, nothing less. Told them I wanted it for the SAME deal I bought the first one.

They said they couldn't do that. I told them to stop emailing me with UNSOLICITED purchase offers and stop calling me with the same or I would report them. Just because you purchase from them doesn't mean they can cold call or email to try and do another deal.

Don't be surprised if they start backing away from what they put in an email. Once they realize that an email IS an official offer and CAN be used in court, they tend to back their short bus up.

 

[Fastwake]

And others will happily pay 1.9% APR on a vehicle loan while their cash earns 10% in investments. Paying cash for a depreciating asset when your cash can earn money instead? That’s the smart move.

You will learn son.

 

[Jeeperjamie]

Lower monthly - but extending the period out?
In short, is the total price out the door cheaper or is it like refinancing a house - your payments may be lower each month but you pay more in the end because now you've just got out full term again.
I'd have to actually get cash back in my hand.
That lower monthly doesn't mean squat if that's all it is. If I had only 4 years left and trading takes me out to 6 again, well..........

This, I got 4yrs left on mine and just refinanced it and kept it at 4yrs and got a 2point drop in payment, from 5.5 to 3.2. It dropped my payment $89ba month and I plan on keeping on paying the $89 and paying it off faster. We also are about to close on a $118,000 cash out refinance on the house. I got 15yrs left on it and we kept it at 15 and got 3pt drop on our rate and payment didn't go up but $375 a month from what we was paying. Rates are really good right now, especially at 15yrs on a house.

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