dodge guy wrote:
Would be nice if prices start dropping. But the interest rates are now ridiculous. My son is looking at newer cars and the rate with good-excellent credit is 7-8%. I have 4.5 on my Ram I bought 2 years ago!
So even if prices drop, the banks will take the difference.
Those rates are tied to the prime rate, which is set not by banks but the Fed, and don't expect that to drop anytime soon. What will drop is the rate to borrow for new vehicles or Rv's. Just need for the sales numbers to tank a little more.
Tell your son to buy a Kia Soul, 2.9% for 48 months. Honda is offering 3.9% across the board for 48 months, 4.9% for 60.
Ford offers 3.9% for 60 on a lot of models. GM has 1.9% for 36 months but with the prices of some models good luck. $40K financed for 36 @ 1.9 is only @ $1150.00 per month ROFLMAO. Try it with a $92K Pickup for $2630.00 per month. Ouch.
monkey44 wrote:
and, wants us to refi our truck for 7%-8%, and we own it, no loan. We say 'No thanks' and smile.
Huh? Refinance a paid off truck? Sort of like a home equity loan backed up by something with no equity? Sounds more like a personal loan with the truck as collateral?
Bionic Man wrote:
I’m still waiting for folks to go back to their pre-Covid past times. It’s still incredibly difficult to get reservations at any of the state or national campgrounds that we frequent.
Keep waiting..............Pre Covid past times? 1956?...From what I can tell it was incredibly difficult since way prior to Covid based on what one reads on some of these boards.
