Forums59
Topics1,047,495
Posts14,107,385
Members144,388
|
Most Online39,925 Dec 30th, 2023
|
|
Re: Negative equity
[Re: Harleydude]
#15076849
05/18/24 10:14 PM
|
Joined: Apr 2017
Posts: 13,401
tmd11111
TFF Guru
|
TFF Guru
Joined: Apr 2017
Posts: 13,401 |
No, it gets the lift and other goodies once it gets here. And that is probably financed in some way as well. We have several shops in the area dedicated to the craft. I want a Raptor R for myself but it’s a 2-3 year wait list out here. Plenty of Raptor R’s available for $20k over msrp
|
|
Re: Negative equity
[Re: tmd11111]
#15076866
05/18/24 10:37 PM
|
Joined: Sep 2005
Posts: 28,651
Brian Spagnola
OP
TFF Guru
|
OP
TFF Guru
Joined: Sep 2005
Posts: 28,651 |
No, it gets the lift and other goodies once it gets here. And that is probably financed in some way as well. We have several shops in the area dedicated to the craft. I want a Raptor R for myself but it’s a 2-3 year wait list out here. Plenty of Raptor R’s available for $20k over msrp Those will actually bring it. They bring almost that over at Auction with short miles.
|
|
Re: Negative equity
[Re: tmd11111]
#15076871
05/18/24 10:42 PM
|
Joined: Feb 2003
Posts: 714
Harleydude
Pro Angler
|
Pro Angler
Joined: Feb 2003
Posts: 714 |
No, it gets the lift and other goodies once it gets here. And that is probably financed in some way as well. We have several shops in the area dedicated to the craft. I want a Raptor R for myself but it’s a 2-3 year wait list out here. Plenty of Raptor R’s available for $20k over msrp They can keep them at 20K over. MSRP max with my trade in and cash or no deal. I should probably just order one and wait forever.
|
|
Re: Negative equity
[Re: Brian Spagnola]
#15076880
05/18/24 10:50 PM
|
Joined: Nov 2022
Posts: 4,249
Grasshopperglock
TFF Team Angler
|
TFF Team Angler
Joined: Nov 2022
Posts: 4,249 |
Stop saying, 'cash'.
Tell them you're willing to finance out to 6 years. Not 7 or 8. BS it at 6 years.
Once your order shows up. Tell them it's cash. You changed your mind. You love the vehicle that much and wanna take it on spot.
.......
In Texas. For any document to take effect. Requires the buyer to take delivery. With dealerships setting the standard. You must leave the property to take possession. 'Bust the curb' in industry speak.
You can sign everything, including the bathroom wall. But You Do Not Own It, until you leave the property. Bust the curb.
And unless you bust said curb. You can tell them to stick it. Don't want it. (They can't make you take it. )
Last edited by Grasshopperglock; 05/18/24 10:52 PM.
|
|
Re: Negative equity
[Re: Grasshopperglock]
#15076908
05/18/24 11:15 PM
|
Joined: Feb 2003
Posts: 714
Harleydude
Pro Angler
|
Pro Angler
Joined: Feb 2003
Posts: 714 |
Stop saying, 'cash'.
Tell them you're willing to finance out to 6 years. Not 7 or 8. BS it at 6 years.
Once your order shows up. Tell them it's cash. You changed your mind. You love the vehicle that much and wanna take it on spot.
.......
In Texas. For any document to take effect. Requires the buyer to take delivery. With dealerships setting the standard. You must leave the property to take possession. 'Bust the curb' in industry speak.
You can sign everything, including the bathroom wall. But You Do Not Own It, until you leave the property. Bust the curb.
And unless you bust said curb. You can tell them to stick it. Don't want it. (They can't make you take it. ) LOL! No thanks.
|
|
Re: Negative equity
[Re: Harleydude]
#15076912
05/18/24 11:19 PM
|
Joined: Nov 2022
Posts: 4,249
Grasshopperglock
TFF Team Angler
|
TFF Team Angler
Joined: Nov 2022
Posts: 4,249 |
Stop saying, 'cash'.
Tell them you're willing to finance out to 6 years. Not 7 or 8. BS it at 6 years.
Once your order shows up. Tell them it's cash. You changed your mind. You love the vehicle that much and wanna take it on spot.
.......
In Texas. For any document to take effect. Requires the buyer to take delivery. With dealerships setting the standard. You must leave the property to take possession. 'Bust the curb' in industry speak.
You can sign everything, including the bathroom wall. But You Do Not Own It, until you leave the property. Bust the curb.
And unless you bust said curb. You can tell them to stick it. Don't want it. (They can't make you take it. ) LOL! No thanks. Haven't you've ever wondered what's the exact moment you start owning it? No turning back. It's Yours?
|
|
Re: Negative equity
[Re: Grasshopperglock]
#15076928
05/18/24 11:32 PM
|
Joined: Feb 2003
Posts: 714
Harleydude
Pro Angler
|
Pro Angler
Joined: Feb 2003
Posts: 714 |
Stop saying, 'cash'.
Tell them you're willing to finance out to 6 years. Not 7 or 8. BS it at 6 years.
Once your order shows up. Tell them it's cash. You changed your mind. You love the vehicle that much and wanna take it on spot.
.......
In Texas. For any document to take effect. Requires the buyer to take delivery. With dealerships setting the standard. You must leave the property to take possession. 'Bust the curb' in industry speak.
You can sign everything, including the bathroom wall. But You Do Not Own It, until you leave the property. Bust the curb.
And unless you bust said curb. You can tell them to stick it. Don't want it. (They can't make you take it. ) LOL! No thanks. Haven't you've ever wondered what's the exact moment you start owning it? No turning back. It's Yours? If I order it I want it. I don’t order stuff to play games. Only reason I haven’t ordered one is because of the wait which means I have to replace my current Raptor with a new one before the R would arrive at this point. Unless I got lucky.
|
|
Re: Negative equity
[Re: Harleydude]
#15076934
05/18/24 11:39 PM
|
Joined: Nov 2022
Posts: 4,249
Grasshopperglock
TFF Team Angler
|
TFF Team Angler
Joined: Nov 2022
Posts: 4,249 |
Stop saying, 'cash'.
Tell them you're willing to finance out to 6 years. Not 7 or 8. BS it at 6 years.
Once your order shows up. Tell them it's cash. You changed your mind. You love the vehicle that much and wanna take it on spot.
.......
In Texas. For any document to take effect. Requires the buyer to take delivery. With dealerships setting the standard. You must leave the property to take possession. 'Bust the curb' in industry speak.
You can sign everything, including the bathroom wall. But You Do Not Own It, until you leave the property. Bust the curb.
And unless you bust said curb. You can tell them to stick it. Don't want it. (They can't make you take it. ) LOL! No thanks. Haven't you've ever wondered what's the exact moment you start owning it? No turning back. It's Yours? If I order it I want it. I don’t order stuff to play games. Only reason I haven’t ordered one is because of the wait which means I have to replace my current Raptor with a new one before the R would arrive at this point. Unless I got lucky. The other name for games is negotiating and you're going up against the best.
|
|
Re: Negative equity
[Re: Brian Spagnola]
#15076935
05/18/24 11:39 PM
|
Joined: Jun 2012
Posts: 21,275
Douglas J
TFF Guru
|
TFF Guru
Joined: Jun 2012
Posts: 21,275 |
How poorly do some people handle money? How do you get $41K upside down in a vehicle? I bought a new truck in 1989 and paid cash and got a new truck every 18-24 months until 2011 or so. Only ever had a car note once, it's because I also bought a couple year old Vette the same day. It was a trade in and was a deal and couldn't leave without it, lol. Still how does that happen?
#MFGA
|
|
Re: Negative equity
[Re: Brian Spagnola]
#15076961
05/18/24 11:59 PM
|
Joined: Jul 2007
Posts: 51,302
Trickster
Super Freak
|
Super Freak
Joined: Jul 2007
Posts: 51,302 |
I have had equity in my 2012 F150 since mid 2014, 107K miles on it.
Last edited by Trickster; 05/19/24 12:00 AM.
|
|
Re: Negative equity
[Re: Brian Spagnola]
#15076964
05/19/24 12:01 AM
|
Joined: Nov 2022
Posts: 4,249
Grasshopperglock
TFF Team Angler
|
TFF Team Angler
Joined: Nov 2022
Posts: 4,249 |
2017-2019
(Mine is a 2015 GM product)
Not much of quality issues. Every year after that. Read the warranty.
Last edited by Grasshopperglock; 05/19/24 12:02 AM.
|
|
Re: Negative equity
[Re: Brian Spagnola]
#15076976
05/19/24 12:10 AM
|
Joined: Jun 2020
Posts: 13,566
grandbassslayer
TFF Guru
|
TFF Guru
Joined: Jun 2020
Posts: 13,566 |
I've officially seen the most negative equity in my lifetime being in the car business. I didn't even really appraise it because there was nothing we could do and the guy got all huffy puffy about it. His 22 F-150 was worth about 40k. He owed 81,500 and wanted to trade into a diesel and keep his payments about the same.
Life at a car dealership..... Talk about all hat and no cattle…..😆
|
|
Re: Negative equity
[Re: Douglas J]
#15076980
05/19/24 12:11 AM
|
Joined: Jun 2020
Posts: 13,566
grandbassslayer
TFF Guru
|
TFF Guru
Joined: Jun 2020
Posts: 13,566 |
How poorly do some people handle money? How do you get $41K upside down in a vehicle? I bought a new truck in 1989 and paid cash and got a new truck every 18-24 months until 2011 or so. Only ever had a car note once, it's because I also bought a couple year old Vette the same day. It was a trade in and was a deal and couldn't leave without it, lol. Still how does that happen? Because most all adults have never told themselves no to anything.
|
|
Re: Negative equity
[Re: Douglas J]
#15076992
05/19/24 12:31 AM
|
Joined: Feb 2003
Posts: 714
Harleydude
Pro Angler
|
Pro Angler
Joined: Feb 2003
Posts: 714 |
How poorly do some people handle money? How do you get $41K upside down in a vehicle? I bought a new truck in 1989 and paid cash and got a new truck every 18-24 months until 2011 or so. Only ever had a car note once, it's because I also bought a couple year old Vette the same day. It was a trade in and was a deal and couldn't leave without it, lol. Still how does that happen? Poor impulse control and financial sense. These are the people Dave Ramsey ends up hearing from.
|
|
Re: Negative equity
[Re: Douglas J]
#15077009
05/19/24 12:41 AM
|
Joined: Sep 2005
Posts: 27,887
Uncle Zeek
aka "Mom"
|
aka "Mom"
Joined: Sep 2005
Posts: 27,887 |
How poorly do some people handle money? How do you get $41K upside down in a vehicle? I bought a new truck in 1989 and paid cash and got a new truck every 18-24 months until 2011 or so. Only ever had a car note once, it's because I also bought a couple year old Vette the same day. It was a trade in and was a deal and couldn't leave without it, lol. Still how does that happen? Well, in the 'classic' days of car sales, you paid a significant down payment - say 10-20% and financed the rest. Because the second you drive it off the lot, the vehicle depreciates a fair chunk. Since 9/11, car dealers have moved almost entirely to 0% down, which means that most buyers are upside down for the first 2-3 years of the note (or even longer). Combine that with the insane policies of lending more than MSRP, and having car loans that are now 7-8+ years, and it's easy for someone to get that far u[side down. Parenthetically, if you were paying cash and trading in every 18-24 months, it means that you gave up alot of equity in your vehicles over those years.
"Decency is not news; it is buried in the obituaries --but it is a force stronger than crime" ~ Robert A. Heinlein Artim Law Firm, PLLC Estate planning & tax attorney AND 07/02 FFL 2250 Morriss Road, Suite 205, Flower Mound, Texas 75028 972-746-0758 mobile zac@artimlegal.com
|
|
Moderated by banker-always fishing, chickenman, Derek 🐝, Duck_Hunter, Fish Killer, J-2, Jacob, Jons3825, JustWingem, Nocona Brian, Toon-Troller, Uncle Zeek, Weekender1
|