Financing your pony

[mustang mick]

Hi...just wondering how many pay for their Mustang outright or use financing to suit their cashflow needs. Cheers.

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[NoosaNightmare]

outright

 

[bfets]

Outright as well.

 

[Ryunker]

Why finance it? Just pay for it.

 

[Crew4991]

I pay for it outright.

Also, don't tell the dealer that when they ask... just say you haven't made up your mind on how you plan to pay for the car.
Typically, if you are not a financing customer, the dealer won't be as flexible when negotiating price since they can't make up profit on the back end. Once you agree upon the price, it shouldn't matter how you pay for it then; though some dealers will absolutely get mad at you if you don't finance.

 

[Old School1]

Normally I would just pay cash but why when I was getting 5% on CD's and received 1.9% rate on a loan? Simple math.

 

[SmoothButter]

I wonder if adding a poll would be easier

 

[Old School1]

I pay for it outright.

Also, don't tell the dealer that when they ask... just say you haven't made up your mind on how you plan to pay for the car.
Typically, if you are not a financing customer, the dealer won't be as flexible when negotiating price since they can't make up profit on the back end. Once you agree upon the price, it shouldn't matter how you pay for it then; though some dealers will absolutely get mad at you if you don't finance.

And never, never negotiate based on payments that the dealer is telling you. Establish the base price then start discussing rates if this is the direction. SMoke and mirrors with throwing out a payment. Get the base price and understand what rate and time of loan before making a decision.

 

[John G]

Outright

 

[IbanezGT]

Normally I would just pay cash but why when I was getting 5% on CD's and received 1.9% rate on a loan? Simple math.

This is my exact situation. I had the cash but I got the 1.9% rate and put the money into HYSA/SGOV for a better return.

 

[Decio]

I paid outright and agree with all of the advice here to this point, especially if low rates are available (they were near 7% when I looked - no thanks).

However you do choose to pay, make sure you join MCA or negotiate a deal below sticker you are comfortable with and exclude add-ons at the finance desk. Grainger had the best deals by far on extended warranties and I bought a 10-yr plan from them. I'm hopeful ADMs are dead as disco, but please, please don't pay any additional dealer markups - that's just nonsense in a market now flooded with these Mustangs at all trim levels.

 

[OldMerc]

At today's rates it's crazy to do anything but cash.

 

[Old School1]

Check the Ford interest rates, they can change by Zip Code. I was surprised at the 1.9% which was locked in when I ordered in May or June last year.

Good luck and enjoy. Weather getting warmer in Chicago area so will drive to work in the fun car!

 

[Ryunker]

Normally I would just pay cash but why when I was getting 5% on CD's and received 1.9% rate on a loan? Simple math.

Problem there is if and a big if you store it off season, full coverage is required all the time. Its not just the purchase price but the cost of ownership so that would easily override the 5% on CD's.

In the off season (southeast SD) my DH 700a costs me exactly zero just about half of the year.

 

[Old School1]

Problem there is if and a big if you store it off season, full coverage is required all the time. Its not just the purchase price but the cost of ownership so that would easily override the 5% on CD's.

In the off season (southeast SD) my DH 700a costs me exactly zero just about half of the year.

great point on the insurance.

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