C7 with $5k down
Pro
Joined: Mar 2006
Posts: 542
Likes: 1
From: Chester County PA
Lets see, on my 12 Range Rover, I put $0 down, and got 0.9% finance for 48 months. Then put 60K into a fund with a 2.36 return each year for 48 months. So is this why we are in a mess?
I plan to finance most all of the LT3 Z-51 I am ordering when my options come off Constraint. If USAA is still doing 1.99 for 60 months. I could pay cash for the car.
Over extending mortgages is what really got us in the mess. The 100% and 120% of cost loans on homes.
I refinanced my house in 09, during the crash, payment went down, they tried to get me to take cash out, I did not. Even paid closing out of pocket. Payment went down 450 a month, but I kept paying the same 3002.54 I was paying before. Refinanced again in 12, again NFCU wanted me to take cash out, I did not. Paid all costs out of pocket again. Dropped the payment another 510 dollars. Still paying the original 3002.54 a month. They did not seem to believe me when I kept telling them my goal was lower interest rate and pay the house off faster. I could afford my original payment, and still can. The day I bought the house I had 26% equity in it.
I am a blue collar, skilled technician....
I plan to finance most all of the LT3 Z-51 I am ordering when my options come off Constraint. If USAA is still doing 1.99 for 60 months. I could pay cash for the car.
Over extending mortgages is what really got us in the mess. The 100% and 120% of cost loans on homes.
I refinanced my house in 09, during the crash, payment went down, they tried to get me to take cash out, I did not. Even paid closing out of pocket. Payment went down 450 a month, but I kept paying the same 3002.54 I was paying before. Refinanced again in 12, again NFCU wanted me to take cash out, I did not. Paid all costs out of pocket again. Dropped the payment another 510 dollars. Still paying the original 3002.54 a month. They did not seem to believe me when I kept telling them my goal was lower interest rate and pay the house off faster. I could afford my original payment, and still can. The day I bought the house I had 26% equity in it.
I am a blue collar, skilled technician....
My steps to financial stability began on '10 by selling my vette and buying a cheap car so I can pay off all debt (other than my house). I am months away! Then...I will save some coin and buy a vette right.
Instructor
Joined: Jun 2013
Posts: 160
Likes: 45
From: Charlotte NC
In the next 12 months you will see 0 change to +1.0%. I can guarantee you they will not be going down at sources other than GM. The only way you find something cheaper than today is if GM starts running promotions using financing as the tool.
