Finance or Cash Purchase?

[305Mario]

How many are you planning to finance vs pay cash? Has anyone heard of SLATE offering finance specials?

 

[DinoLord]

I'd be scared if Slate offered finance specials already

 

[305Mario]

I'd be scared if Slate offered finance specials already

For a new release it’s usually a no, but sometimes manufacturers offer low interest to attract more buyers. But if they have more demand than supply than that’s a no.

 

[Mac-Tyson]

Assuming it’s an option likely will finance the truck but buy all my Day 1 accessories Cash.

 

[KevinRS]

I'd like to pay cash, but won't likely have that much saved up, and got to get a charger installed too, which will require at least a 45 foot power run AFAIK. Should have a significant deposit ready though.

 

[ClayJar]

There's a previous thread with a lot of answers and commentary you might find interesting or useful:
https://www.slateforums.com/forum/threads/how-are-folks-buying-slates-financing-loans.15307/

 

[E90400K]

I'm going to use money.

Unless Barman wants a snuff job on Faricy (because you know...), then we can negotiate.

 

[EVfun]

The one payment plan with zero percent interest.

 

[E90400K]

I'd like to pay cash, but won't likely have that much saved up, and got to get a charger installed too, which will require at least a 45 foot power run AFAIK. Should have a significant deposit ready though.

Like everyone, I don't like borrowing money, but one has to look at their entire financial impact to make such decisions. Decided to use your post to point it out as a general comment.

I've run my finance numbers. Based on today's rates, I'll get a great loan rate from my bank based off my 401K holdings (under 5% interest). The net delta between average annual return on the 401K vs. the car loan is under 1%, so it will cost about $113/year to carry the loan. Based on market adjustments, that $113 can go lower, drop to zero or even net increase the 401K value on an annual basis, so I'd rather keep the $26K in my 401K portfolio since there is a chance I can get a net annualized positive gain.

Basically, borrowing against yourself, it's (nearly) free money.

 

[metroshot]

Like everyone, I don't like borrowing money, but one has to look at their entire financial impact to make such decisions. Decided to use your post to point it out as a general comment.

But I've run my finance numbers. Based on today's rates, I'll get a great loan rate from my bank based off my 401K holdings (under 5% interest). The net delta between average annual return on the 401K vs. the car loan is under 1%, so it will cost about $113/year to carry the loan. Based on market adjustments, that $113 can go lower, drop to zero or even net increase the 401K value on an annual basis, so I'd rather keep the $26K in my 401K portfolio since there is a chance I can get a net annualized positive gain.

Basically, barrowing against yourself, it's (nearly) free money.

I just retired and thought about using my 403b and/or 457b to get a "loan" against the Slate purchase...

I am lucky not to have to touch those retirement accounts as I have a pension and social security which covers all my needs.....

 

[E90400K]

I just retired and thought about using my 403b and/or 457b to get a "loan" against the Slate purchase...

I am lucky not to have to touch those retirement accounts as I have a pension and social security which covers all my needs.....

About the same. My budget right now includes my Bronco payment, which ends in July 2027, about the time I'll pick up the loan for the Slate. The Slate will be about $190 less per month than the Bronco is now, so I'm sitting pretty budget-wise. And it let my buy a new, most excellent motorscooter in December last year, which financially I had not really planned to do - LOL.

The May 2025 flood we had rearranged a few things, but it all came out for the better.

Now, just to get my wife on board.

And just sayin', retired and having an airflight budget... NICE!

 

[Doctors Do Little]

I just retired and thought about using my 403b and/or 457b to get a "loan" against the Slate purchase...

I am lucky not to have to touch those retirement accounts as I have a pension and social security which covers all my needs.....

You don’t have to pay a 10% fee for borrowing against retirement for non-mortgage if repaid with interest in like 5 years, iirc? Obviously if you got dinged for 10%, it’s a non starter. Without fee and requirement that you pay yourself some nominal return (5%?), might make more sense than borrowing from traditional lenders.

 

[Shrink36s]

I was hoping to barter. Potatoes for vehicle? I have two different careers, I could trade services for a vehicle? Think they'll go for it?

 

[metroshot]

You don’t have to pay a 10% fee for borrowing against retirement for non-mortgage if repaid with interest in like 5 years, iirc? Obviously if you got dinged for 10%, it’s a non starter. Without fee and requirement that you pay yourself some nominal return (5%?), might make more sense than borrowing from traditional lenders.

No, not for 403b or 457b retirement funds - I have borrowed before for an international cruise trip and there are no charges or fees to borrow.

You are borrowing against your own money.

 

[Doctors Do Little]

I was hoping to barter. Potatoes for vehicle? I have two different careers, I could trade services for a vehicle? Think they'll go for it?

Depends on your services and items? Perhaps someone would do that for you? Potatoes? Not so much.