Imagine paying $1400/mo 6 years from now on a 12 year old vehicle. Lol
Car loans are +10%, What The Heck!??
- Thread starter Corbic
- Start date
Definitely
That deal won't fund. A bank will return the contract because the year says, "2,017.00" instead of "2017".
I'd have your buddy re-contract it before the people change their mind.
I actually asked him about that because I thought it was funny, he said every single contract that comes in through dealertrack looks like that, isn't sure why, but apparently its normal
FWIW he only does the tag and title work for the dealer, he isn't dabbling with anything financial.
Hm. Weird. Technically it shouldn't fund as there will be too many characters. I had Dealertrack years back and it definitely didn't do that.
Just curious where did you get this chart? Link?
The federal reserve
Mortgage Debt Service Payments as a Percent of Disposable Personal Income
Graph and download economic data for Mortgage Debt Service Payments as a Percent of Disposable Personal Income (MDSP) from Q1 1980 to Q4 2023 about disposable, payments, mortgage, debt, personal income, percent, personal, services, income, and USA.
fred.stlouisfed.org
The federal reserve
Mortgage Debt Service Payments as a Percent of Disposable Personal Income
Graph and download economic data for Mortgage Debt Service Payments as a Percent of Disposable Personal Income (MDSP) from Q1 1980 to Q4 2023 about disposable, payments, mortgage, debt, personal income, percent, personal, services, income, and USA.fred.stlouisfed.org
They wouldn't lie, right?
Also, is this forward looking or reverse?
How many people in Cali have mortgages on houses they bought 20 years ago and they recently refinanced at 2.5% vs people buying today at 2x 2020 prices and 7%?
The federal reserve
Mortgage Debt Service Payments as a Percent of Disposable Personal Income
Graph and download economic data for Mortgage Debt Service Payments as a Percent of Disposable Personal Income (MDSP) from Q1 1980 to Q4 2023 about disposable, payments, mortgage, debt, personal income, percent, personal, services, income, and USA.fred.stlouisfed.org
I have beach front property in Lahaina, Hawaii to sell at hood prices too.
A coat hanger can bring out the kid in you.
FWIW, picked up a bronco at 5% 72 month through Navy federal.
New. Ford couldn't match the interest rate for the bronco so I went to Navy Fed..
I have Perfect credit. The could get me like 1.9 or so on a f150, but the wife wanted a bronco.
So I posted up in this thread earlier and bragged about the low interest rates USAA hands out.
Quick uodate as I just got off the phone with submitting a new application for a car purchase. Holy crap!!!
So on a 2021-2022 GT500, as of 15 minutes ago, ......8.54%
To put this in perspective, my 2022 F250 purchased 24 months ago is 4.44%
And to go back 30 days before the first lockdowns for Covid came, my 2013 GT500 is at 3.33% and it was clearly an "older car" at time of purchase.
My credit score is a 780 with almost no debt besides a truck and Shelby payment.
Moral of the story, you gotta really want a car bad if the loan is through USAA
Quick uodate as I just got off the phone with submitting a new application for a car purchase. Holy crap!!!
So on a 2021-2022 GT500, as of 15 minutes ago, ......8.54%
To put this in perspective, my 2022 F250 purchased 24 months ago is 4.44%
And to go back 30 days before the first lockdowns for Covid came, my 2013 GT500 is at 3.33% and it was clearly an "older car" at time of purchase.
My credit score is a 780 with almost no debt besides a truck and Shelby payment.
Moral of the story, you gotta really want a car bad if the loan is through USAA
Yea, just went through the same thing last month. Closed out on my Bronco in early July and was shocked at the rates. Ended up getting 6% which I initially balked at.
Now, I feel like I did decently.
I don't think I ever had good luck with USAA as far as car loans. They were always higher than other places I checked. I usually ended up going through Navy Fed.
who cares, 5% is absurd
Last year bought my wife a BMW with a 2.7%. Just bought my Jeep a couple weeks ago at 6.49%. Both financed through my Credit Union.
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