What Insurance Rates and Loan APR % is everyone getting ?

[sdtkeld]

Everyone, don’t forget inflation. With low rates and the dollar buying less, let the bank take the hit getting reimbursed with money that has less value down the road.

The biggest consideration is to be prepared and ready for any contingencies in the future. There are many mindsets and opinions, just be prepared. Everybody has different opinions on how they spend their (your) money and who one is beholden to. Find your comfort level and go for it. I am comfortable with risk, so I play the difference between the rate on the loan and what I can invest. A few thousand between now and retirement can compound a lot of interest while I enjoy my ride.

That being said, I also pay my obligations first, savings second, and me last. If the me fund can cover a Gladiator, bring it on.

As for rates, I stretched mine out to 72 months at 2.99 (financed 40k, 10k down, no trade because I had no car) with the intention of paying it off as soon as my son graduates from college in two years. The money I invested the first year and a half of his schooling returned 20% -3% going to the bank on the loan principle. Auto insurance for me is about $800.00 per year and will drop when he is off my plan in two years.

Long story short, do your research, have a plan, be disciplined and don’t second guess your decision if you did the first three. EVERYONE is an expert on the internet.

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[SargeDiesel]

Regarding the extended warranty- You certainly don’t NEED a warranty on a new vehicle, or one covered under the “bumper-to-bumper” warranty, but many have found them to pay themselves over time. I’m one of those that fall into that category so decided to purchase and 5-year, 60k mile extension of the comprehensive warranty. That decision was partially based my Gladiator already having 16k miles on it 11 months into the warranty (like I said, I bought used), and the other part was because they gave me employee pricing and it was only $100 over cost.

There are some good threads on here about warranties, so I would do your homework to review 3rd party warranties vs MOPAR. The warranty I bought is through a company that my dealership has done millions of dollars with, so they have full approval on claims which I’ve seen to be beneficial in the past. I’d recommend reviewing deductibles, who can perform the repairs if your on the road, and if reimbursement is allowed without preapproval.

PS- I do find it quite amazing that the members here have resources like Gupton, and I just read about a finance manger in Michigan selling warranties!

I do prefer to buy local, but sometimes the financial advantage of online/out of state is just too attractive to pass up.

"PS- I do find it quite amazing that the members here have resources like Gupton, and I just read about a finance manger in Michigan selling"

Would you mind explaining what you mean here ?
* also I think you might have ment to post this in my other thread about extended warranties ??

 

[869 KPH]

"PS- I do find it quite amazing that the members here have resources like Gupton, and I just read about a finance manger in Michigan selling"

Would you mind explaining what you mean here ?
* also I think you might have ment to post this in my other thread about extended warranties ??

I think @Dadiator21 means that the forums have informed us of who has the best prices in the country. Gupton will be saving me something like 10K off of sticker price at a time when every other dealer wants to charge chip markups. And the warranty guy in Michigan will sell you an extended warranty for dirt cheap; I forget who that is but know to search for it if I ever want one.

 

[SargeDiesel]

I think @Dadiator21 means that the forums have informed us of who has the best prices in the country. Gupton will be saving me something like 10K off of sticker price at a time when every other dealer wants to charge chip markups. And the warranty guy in Michigan will sell you an extended warranty for dirt cheap; I forget who that is but know to search for it if I ever want one.

Thanks, That's what I was thinking , but did not want to assume. Gupton saved me some cash to. The guy is Tom Winkels. I'm in the process of comparing quotes so that I can take them with me when I take delivery. It would be nice to have a little ammo to help negotiate with Gupton.... which is largely why I created the thread asking about warranties.
https://www.jeepgladiatorforum.com/...terms-and-what-did-you-pay.52336/#post-856409

 

[fun2drum]

Everyone, don’t forget inflation. With low rates and the dollar buying less, let the bank take the hit getting reimbursed with money that has less value down the road.

Wow! That's truly the crux of the biscuit. The current inflation rate is more than double the interest rates you can get today. You're ahead of the game financing even if you DON'T invest. These are interesting times we're livin' in.

 

[fun2drum]

Thanks, That's what I was thinking , but did not want to assume. Gupton saved me some cash to. The guy is Tom Winkels. I'm in the process of comparing quotes so that I can take them with me when I take delivery. It would be nice to have a little ammo to help negotiate with Gupton.... which is largely why I created the thread asking about warranties.
https://www.jeepgladiatorforum.com/...terms-and-what-did-you-pay.52336/#post-856409

Tom is the guy I bought my extended warranty from. He has no competition. It wasn't even close.

 

[Suszynch]

1.85% at 48 mo both insurance and loan are through USAA

 

[KX L]

It took to page 7 to finally get to the answer I have about buying outright/pay off way early or do the loan thing. Even if inflation is at 1-2% it still means 1-2% more the cost next year. I would much rather have a loan using this year's dollars for the life of the loan than buying outright.

BUT and it's a big BUT, you have to be disciplined. At the end of the day you owe the amount of the vehicle plus the cost of the loan.

When I was in Motorcycle Mechanics School in Phoenix there was a retired Air Farce [I mean Force] Senior Master Sergeant [E-8] who was going through his third divorce, had a new truck, and then bought a brand new Harley touring bike.

He became a great friend so I asked him if he was independently wealthy. He laughed and said no I just live on my retirement. Long story short he believed as long as he could make the monthly payments he was fine. When I went over all his bills with him he was shocked to find out he was $350,000 dollars in debt---while making all his many monthly payments.

He was a really smart guy [top of our class] so once he understood his predicament he got to work on not spending money frivolously and paying off his high interest loans first and not buying anything new until he was out of debt on the crap he already had. So now 4 years later he might be much closer to being out of debt---but the idiot got married again so who knows and I don't want to ask him.

You actually deserve to keep some of the money you earn---so I'm always amazed at the people who don't invest for their future. They feel like they have to buy shit for their kids [adult and under 18] or wife if they have a couple of hundred left over after the monthly bills. Anyone who thinks Social Security is enough to live on, with even a slight bit of comfort, seriously needs a drug test.

My credit rating is 825 and I have more than 1 M in my savings. At my age of 61 I should have a much higher annuities [guaranteed income] to stocks [risk on how the market is doing] percentage than I do for retirement security. But I'm so blessed to have a cost of living adjusted retirement income I keep more than 80% in the stock market despite already being retired for the last 6 years. I consider any gains and losses to just be on paper. I spent the last three years saving for the Gladiator and getting my expenses in order even though I could easily buy the vehicle outright. But I'm disciplined and aware of how money works so to me a low interest loan makes the most sense while the money I could have spent is still in the game in my name.

@Klutch, I really feel for your sister in law---but don't believe she can't get a credit card. I'm pretty sure she can get one at 28-35% interest on her own [almost guarantee there is a government program to ensure this]---and then every month buy one or two things and always pay off the credit card each month. Then a year from now she demands a better interest rate or goes elsewhere for a lower rate.

When I do get to fly out and pick up my new JT I'll update this thread with insurance and apr.

 

[Klutch]

At my age of 61 I should have a much higher annuities [guaranteed income] to stocks [risk on how the market is doing] percentage than I do for retirement security.

@Klutch, I really feel for your sister in law---but don't believe she can't get a credit card. I'm pretty sure she can get one at 28-35% interest on her own [almost guarantee there is a government program to ensure this]---and then every month buy one or two things and always pay off the credit card each month. Then a year from now she demands a better interest rate or goes elsewhere for a lower rate.

Annuities? Man, I looked into annuities and decided it was like buying whole life insurance.

I helped my SIL apply for a very basic credit card and she was denied. I suppose we could keep trying.

 

[869 KPH]

Anyone who thinks Social Security is enough to live on, with even a slight bit of comfort, seriously needs a drug test.

I lol'd at this one.

I wish talking about personal finance was more normalized. I think it would help a lot of people.

 

[WILDHOBO]

0% for 48. And insurance covers me if it’s totaled, since I owe way less that it was purchased for after the 32k trade. Why would I pay it off early, allowing the bank to earn interest on the early payoff?

 

[HydroWilllys]

0% for 36 months - Chrysler Capital. Took the offer available from Jeep through the dealer on my 21 Willy’s Gladiator. I made a shit-ton of money on my trade in today’s inflated market. I only had to finance 22k so 36mo made sense. 48 was 1.9% through Chrysler and also a great deal. Will pay it off early and own all that equity in probably 24-39 months. Can’t lose.

I’ve been with Geico for decades.., they took great care of me on the Jeep for solid coverage.

The key is to shop around and take a good deal NOW. As many have mentioned, inflation is going to kill us all for at least the next 2 years.

 

[ArmyMP]

Before deciding to buy for cash, I was locked in for 1.45% through USAA.

USAA insurance is 150 a month

 

[IamAlan]

4.06% APR for 72 months. $301 a half for full coverage.

 

[SargeDiesel]

Tom is the guy I bought my extended warranty from. He has no competition. It wasn't even close.

He is, but with that said, my dealership matched his price. I think if you're dealership will match the price, ultimately you should buy from them. In my case Gupton.

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