Finance or Cash Purchase?

[whippet]

Financed my Mazda at 0.0% 10+ years ago; this idea of paying any more than 0.9% would have me going to another manufacturer. Incentives come and go.

4.49% over 4 years = $2,358.78 interest paid. That's $49/month in interest.

 

[Freyar]

Assuming 6.1% (we're not going to see lower on non-promotional.. given 2026), 48 months, $2.9k in interest over the life of that loan. Starts at $114.08 per month in interest payments.

0.9% would be very nice at $414 for total interest paid. Hell, if that were offered at only a longer term, I'd take that hook.

 

[KevinRS]

Something like 0.9% interest is just highly unlikely to happen, that kind of rate just means the interest is built into the price. Maybe in 2-3 years they will offer promo rates. The best you can hope for now is a good credit union rate.

 

[Freyar]

Something like 0.9% interest is just highly unlikely to happen, that kind of rate just means the interest is built into the price. Maybe in 2-3 years they will offer promo rates. The best you can hope for now is a good credit union rate.

Oh, I'm sure. Just a daydream. Telsa has offers on their side, but they are established and all.

 

[AZFox]

Something like 0.9% interest is just highly unlikely to happen, that kind of rate just means the interest is built into the price.

Automobile Interest rates that are below market rates are subsidies.

Slate Auto won't need to offer subsidies for quite a while, if ever.

 

[whippet]

Automobile Interest rates that are below market rates are subsidies....

Good to know! Hyundai is subsidizing the heck out of their cars, 0.0% on the Santa Fe hybrid, which I was considering but I think the rear end looks dumb and its also 40k.

Mazda is offering 0.0% for 36 months on a ton of vehicles.

 

[mikehell]

If Carvana ends up to be the delivery partner, and financing is through them, you'll be much better off finding a loan from a bank or credit Union. Their rates are typically pretty high.

 

[E90400K]

Sounds like Slate's "Our truck is half the price of the average new car" is still not enough for most people.

 

[Moe]

Sounds like Slate's "Our truck is half the price of the average new car" is still not enough for most people.

I think think when some buyers realize the sacrifices that come with that low price, they might pay more elsewhere, especially for four doors or AWD.

 

[dmon4u]

I am aiming for both. $20,000 cash and the rest financed.

 

[metroshot]

I think think when some buyers realize the sacrifices that come with that low price, they might pay more elsewhere, especially for four doors or AWD.

Yup, agree.

Ford Fathom for me - need the 2 row seating, 5 pax, and a small truck bed w/ frunk.

 

[Moe]

Ford Fathom for me - need the 2 row seating, 5 pax, and a small truck bed w/ frunk.

I’m not implying it’s you or even most for that matter, but I think that many who go to a Ford dealer to look at a Fathom will drive home in a Maverick. YMMV

 

[Freyar]

Sounds like Slate's "Our truck is half the price of the average new car" is still not enough for most people.

I view the financing as a separate product, or separate offer. Speculating on interest rates isn't a bad thing, especially as it's not just manufacturers that can subsidize rates as well. I've seen credit unions do the same in the past. Ultimately, it's too early to say anything with any form of certainty, but it's nice to have dreams.

 

[E90400K]

I view the financing as a separate product, or separate offer. Speculating on interest rates isn't a bad thing, especially as it's not just manufacturers that can subsidize rates as well. I've seen credit unions do the same in the past. Ultimately, it's too early to say anything with any form of certainty, but it's nice to have dreams.

Agree. But as I stated in Post #9 it depends on what your financial situation is and how you look at it within/as your overall financial impact. I'll be borrowing from the same institution that manages my investments, so the effective interest will be around 0.9%, which based on my purchase numbers (down payment and loan amount) the debit service cost is around $9.35/month. I'm not going to sweat that amount.

 

[Freyar]

Agree. But as I stated in Post #9 it depends on what your financial situation is and how you look at it within/as your overall financial impact. I'll be borrowing from the same institution that manages my investments, so the effective interest will be around 0.9%, which based on my purchase numbers (down payment and loan amount) the debit service cost is around $9.35/month. I'm not going to sweat that amount.

Cozy place to be in. Sounds like a good plan to me.