2022 Stealth Performance Production?

I feel your pain on the taxes this year. My wife works for our local school district and this is her first full year working for them. The admin people apparently did her original W2 wrong and were about $170 shy for fed withholding every month to pay in enough to owe nothing at the end of the year. We didn’t know about it until I sat down to do my taxes. Wasn’t a pleasant surprise to say the least lol

Don't pay cash for a vehicle unless it's a cheap one. That capital is better used for other things than a vehicle. Find a way to get the lowest monthly payment/interest rate and be done with it. Money has been cheap to borrow and still is.

We are in a position fortunately enough to be able to purchase our new SPP outright, but I'd be a fool to do so.

MattG said:

Don't pay cash for a vehicle unless it's a cheap one. That capital is better used for other things than a vehicle. Find a way to get the lowest monthly payment/interest rate and be done with it. Money has been cheap to borrow and still is.

We are in a position fortunately enough to be able to purchase our new SPP outright, but I'd be a fool to do so.

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Well, in order for us to get an affordable monthly payment that’s not with an 84-month note or something asinine like that, we have to put a good chunk of change down since we still owe on my f150 we’re trading in to get my wife’s car. If I can get enough saved up to put us in a very comfortable not 36-months, I would lol

MattG said:

Don't pay cash for a vehicle unless it's a cheap one. That capital is better used for other things than a vehicle. Find a way to get the lowest monthly payment/interest rate and be done with it. Money has been cheap to borrow and still is.

We are in a position fortunately enough to be able to purchase our new SPP outright, but I'd be a fool to do so.

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I don't know about that one at current. My Credit union loan rate is 1.9%. I cannot get that interest rate at any bank for my money unless a cd. ETFs I just started a year ago is negative. My IRA is negative. I am thinking about paying cash. Rather not have to pay interest at all and earn what little there is. I don't want to buy or invest in a business venture

I lease, not buy, lease will be $900 per month, no money down for 36 months, 12k Per year. Lease is the best way to go if you do not put too many miles on it. If I keep it for the 3 years, cost me $32K then get a new 1.

I just called Marketing to see if there was any update. Nothing. Just says "In processing" with no VIN assigned yet. Ordered Max SPP March 5th.

Tripoli said:

I just called Marketing to see if there was any update. Nothing. Just says "In processing" with no VIN assigned yet. Ordered Max SPP March 5th.

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I called marketing a few weeks ago and it was a similar story. I'm really hoping they do some scheduling next week. It's been several weeks since they have done any. I'm fully expecting to get a June build date when I (hopefully soon) get scheduled for Production.

MattG said:

Don't pay cash for a vehicle unless it's a cheap one. That capital is better used for other things than a vehicle. Find a way to get the lowest monthly payment/interest rate and be done with it. Money has been cheap to borrow and still is.

We are in a position fortunately enough to be able to purchase our new SPP outright, but I'd be a fool to do so.

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One thing you're not factoring in is risk. Also the fed is more than likely gonna raise rates 50 basis points in may and probably June as well. It's not getting cheaper to borrow its getting more expensive. Also with the way the economy is going the markets could have a huge pull back and I'm betting real estate is gonna have a hard pull back as well. So your argument imo isn't a very sound strategy. I want to be able to lose my business and not have to worry about losing my car as well. Unless it's to sell it to keep a roof over my families head.

Mxer0022 said:

One thing you're not factoring in is risk. Also the fed is more than likely gonna raise rates 50 basis points in may and probably June as well. It's not getting cheaper to borrow its getting more expensive. Also with the way the economy is going the markets could have a huge pull back and I'm betting real estate is gonna have a hard pull back as well. So your argument imo isn't a very sound strategy. I want to be able to lose my business and not have to worry about losing my car as well. Unless it's to sell it to keep a roof over my families head.

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I don’t fully understand these comments. But here’s what I’ve gathered so far. There are a few pieces to this.
First is cost of money.
Current rates on new cars are about 1.9-2.9% for 60-72 months. With nothing down and financing 80k. That would cost $5-7k in interest over 5-6 years.

Second, if I am reading your note, it suggests negative economic headwinds approaching. In those conditions having liquid assets (cash) on hand to weather the storm is more beneficial. Cars and property are subject to evaluative pricing based on the buyer pool.

And lastly, the opportunity cost of the 80k upfront, do you think you will earn more than 6-7k on that money yourself. Most funds, even bond heavy, earn 3-8%, so highly likely.

Im not a financial advisor, and don’t know peoples situations, but hopefully the above helps people make informed decisions.

Everybody cross your fingers!