Go Back   Jeep Garage - Jeep Forum > Jeep Platform Discussion > Grand Cherokee - WK2 - > Trouble Shooting/Problems/Service

Join Jeep Garage Today
Reply
 
Thread Tools Display Modes
 
  #49  
Old 06-11-2014, 02:26 PM
Member
My Jeep: 2014 5.7L WK2
 
Join Date: Oct 2013
Location: Texas
Posts: 38
Thanks: 0
Thanked 1 Time in 1 Post
Rep Power: 529
jrog28 has a reputation beyond reputejrog28 has a reputation beyond reputejrog28 has a reputation beyond repute
Re: 84 Month Financing?

Quote:
Originally Posted by GCOverland View Post
That's pretty much the only reason why I would stay at or below 72 months. As soon as you go longer, there is a pretty steep jump in APR...

All advertised 1.xx%-loans I'm aware of are for shorter periods, which most of them at 60 months or less.

84 months 1.84APR here. I also like the flexibility of the 84m. If i am able to pay it off sooner i will, if not i will have a paid off vehicle in 7 years ( hopefully still running strong).
__________________

__________________
Reply With Quote
  #50  
Old 06-11-2014, 03:29 PM
GCOverland's Avatar
Jeep Addict
My Jeep: 2015 3.6L WK2
 
Join Date: May 2010
Location: Tampa Bay, FL
Posts: 1,194
Thanks: 22
Thanked 26 Times in 24 Posts
Rep Power: 2925
GCOverland has a reputation beyond reputeGCOverland has a reputation beyond reputeGCOverland has a reputation beyond repute
Re: 84 Month Financing?

Quote:
Originally Posted by jrog28 View Post
84 months 1.84APR here. I also like the flexibility of the 84m. If i am able to pay it off sooner i will, if not i will have a paid off vehicle in 7 years ( hopefully still running strong).
Now THAT is an excellent rate for 84 months!

At that rate, I would go for 84 months, too..
__________________

__________________
Reply With Quote
  #51  
Old 06-12-2014, 08:43 PM
FStephenMasek's Avatar
Member
 
Join Date: Feb 2013
Posts: 210
Thanks: 0
Thanked 12 Times in 11 Posts
Rep Power: 898
FStephenMasek is on a distinguished road
Re: 84 Month Financing?

"Debt is dumb, cash is king..." How on Earth can that be any kind of good idea? If you can't afford it, don't buy it!
__________________
Reply With Quote
  #52  
Old 06-12-2014, 09:18 PM
dubwarren's Avatar
Senior Member
My Jeep: 2014 5.7L WK2
 
Join Date: Aug 2010
Location: VA
Posts: 1,217
Thanks: 1
Thanked 18 Times in 16 Posts
Rep Power: 0
dubwarren dubwarren dubwarren dubwarren dubwarren dubwarren dubwarren dubwarren dubwarren dubwarren
Re: 84 Month Financing?

But if you couldn't afford then how could you buy it in the first place....this is getting philosophical now.....

Do banks still make predatory loans?

Is that a dumb question?


Sent from my iPhone using JeepGarage
__________________
[SIGPIC][/SIGPIC]
Reply With Quote
  #53  
Old 06-12-2014, 09:26 PM
Member
My Jeep: 2014 5.7L WK2
 
Join Date: Oct 2013
Location: Texas
Posts: 38
Thanks: 0
Thanked 1 Time in 1 Post
Rep Power: 529
jrog28 has a reputation beyond reputejrog28 has a reputation beyond reputejrog28 has a reputation beyond repute
Re: 84 Month Financing?

Quote:
Originally Posted by FStephenMasek View Post
"Debt is dumb, cash is king..." How on Earth can that be any kind of good idea? If you can't afford it, don't buy it!
So says the 70 year old man that has money now. Shouldn't you be in your rv going to some gerital convention?
__________________
Reply With Quote
The Following User Says Thank You to jrog28 For This Useful Post:
  #54  
Old 06-12-2014, 09:26 PM
jgc4ever's Avatar
Senior Member
My Jeep: 2012 5.7L WK2
 
Join Date: Mar 2011
Posts: 3,247
Thanks: 1
Thanked 83 Times in 74 Posts
Rep Power: 1160413
jgc4ever has a reputation beyond reputejgc4ever has a reputation beyond reputejgc4ever has a reputation beyond reputejgc4ever has a reputation beyond reputejgc4ever has a reputation beyond reputejgc4ever has a reputation beyond reputejgc4ever has a reputation beyond reputejgc4ever has a reputation beyond reputejgc4ever has a reputation beyond reputejgc4ever has a reputation beyond reputejgc4ever has a reputation beyond repute
Garage
Re: 84 Month Financing?

Afford - Definition and More from the Free Merriam-Webster Dictionary

Full Definition of AFFORD

transitive verb
1
a: to manage to bear without serious detriment



I think it's all in the definition of 'Afford'. The key part being "without serious detriment".
__________________
Reply With Quote
  #55  
Old 06-12-2014, 09:32 PM
dubwarren's Avatar
Senior Member
My Jeep: 2014 5.7L WK2
 
Join Date: Aug 2010
Location: VA
Posts: 1,217
Thanks: 1
Thanked 18 Times in 16 Posts
Rep Power: 0
dubwarren dubwarren dubwarren dubwarren dubwarren dubwarren dubwarren dubwarren dubwarren dubwarren
Re: 84 Month Financing?

Got it


Sent from my iPhone using JeepGarage
__________________
[SIGPIC][/SIGPIC]
Reply With Quote
  #56  
Old 06-12-2014, 11:02 PM
SW03ES's Avatar
Premium Member
My Jeep: 2014 3.6L WK2
 
Join Date: Jun 2011
Location: Gaithersburg, MD
Posts: 1,857
Thanks: 17
Thanked 62 Times in 50 Posts
Rep Power: 1303592
SW03ES has a reputation beyond reputeSW03ES has a reputation beyond reputeSW03ES has a reputation beyond reputeSW03ES has a reputation beyond reputeSW03ES has a reputation beyond reputeSW03ES has a reputation beyond reputeSW03ES has a reputation beyond reputeSW03ES has a reputation beyond reputeSW03ES has a reputation beyond reputeSW03ES has a reputation beyond reputeSW03ES has a reputation beyond repute
Re: 84 Month Financing?

Quote:
Originally Posted by FStephenMasek View Post
"Debt is dumb, cash is king..." How on Earth can that be any kind of good idea? If you can't afford it, don't buy it!
This is a very narrow minded view...

If someone is financing a vehicle for 84 months because thats the only way they can afford the vehicle's payments...thats an issue I agree. However, to make a blanket statement like "debt is dumb, cash is king" shows a total lack of understanding of how one can use debt to actually improve their financial situation.

If I can borrow money for a car for 1.8%...regardless of the term, and my cash is earning me a return greater than 1.8%...then I am actually making money by using someone else's money to purchase my car. If I could get a loan for 1.8% for 84 months...hell I would do that too and I can strike a check for a new Overland right now. Why would I part with cash I can invest when someone else will give me $50,000 at a cost of 1.8%? Spending my cash would COST me money!
__________________
~Steve~
2014 Jeep Grand Cherokee Overland V6 4X4. Maximum Steel w/ Vesuvio Jeep Brown/Indigo Blue. Advanced Tech Pkg.
2013 Lexus GS350 AWD, Liquid Platinum w/ Flaxen. Luxury & Cold Weather Pkg
Previous Jeep: 2011 Grand Cherokee Laredo X w/Nav, QT1 & Trailer Tow
Reply With Quote
The Following User Says Thank You to SW03ES For This Useful Post:
  #57  
Old 06-12-2014, 11:40 PM
Dan JGC's Avatar
Premium Member
 
Join Date: Dec 2010
Posts: 2,139
Thanks: 7
Thanked 82 Times in 68 Posts
Rep Power: 4604
Dan JGC has a reputation beyond reputeDan JGC has a reputation beyond reputeDan JGC has a reputation beyond reputeDan JGC has a reputation beyond reputeDan JGC has a reputation beyond reputeDan JGC has a reputation beyond reputeDan JGC has a reputation beyond reputeDan JGC has a reputation beyond reputeDan JGC has a reputation beyond reputeDan JGC has a reputation beyond reputeDan JGC has a reputation beyond repute
Re: 84 Month Financing?

Gettin' a bit testy in here! LOL

I like the prudent financial advice buying only things in "cash" since then you have no worries as so many people get into dumb debt and become "debt slaves". With that said, debt financing can be very advantageous if done properly...same with hiring people to do work for you. Why would I clean my own home if I make $200/hour (with no limits on the hours I can work) when I can hire someone at $12/hour. The same with so many other services....I don't raise my own cows and chickens, but I eat beef and chicken...it costs less to use other people to raise them. Same with money, if it costs less than the opportunity costs then you can use debt...costs 1% when the opportunity cost is 5%. Debt is also a matter of % of assets...if you have a large wealth cushion, the risks of debt decline substantially and allows you to take advantage of debt. Let your money ... and your borrowed money ... work for you, not for them (be a debt master, not a debt slave...yes, I just made that up).
__________________
||||||| 2014 Jeep Grand Cherokee Summit 4x4 V8 in Bright White Clear Coat exterior with Grand Canyon Jeep Brown interior. |||||||
Reply With Quote
The Following User Says Thank You to Dan JGC For This Useful Post:
  #58  
Old 06-13-2014, 10:20 PM
Member
My Jeep: 2014 3.6L WK2
 
Join Date: Jan 2013
Location: Michigan
Posts: 841
Thanks: 8
Thanked 19 Times in 14 Posts
Rep Power: 127342
loveracing1988 has a reputation beyond reputeloveracing1988 has a reputation beyond reputeloveracing1988 has a reputation beyond reputeloveracing1988 has a reputation beyond reputeloveracing1988 has a reputation beyond reputeloveracing1988 has a reputation beyond reputeloveracing1988 has a reputation beyond reputeloveracing1988 has a reputation beyond reputeloveracing1988 has a reputation beyond reputeloveracing1988 has a reputation beyond reputeloveracing1988 has a reputation beyond repute
Re: 84 Month Financing?

Quote:
Originally Posted by jrog28 View Post
84 months 1.84APR here. I also like the flexibility of the 84m. If i am able to pay it off sooner i will, if not i will have a paid off vehicle in 7 years ( hopefully still running strong).
May I ask which bank this is through?

We financed through pnc bank at 5.25% for 84 months last april, this april we refinacned for 72 months at 3.4%, yes I know its not the best decision to go out that far but with $1250 down we are about even right now equity wise. When we refinanced we were actually ahead by $200 going by blue book private party value.
__________________
Reply With Quote
  #59  
Old 06-14-2014, 03:54 PM
StaticFX's Avatar
Premium Member
My Jeep: 2014 3.6L WK2
 
Join Date: Jul 2013
Posts: 741
Thanks: 1
Thanked 16 Times in 16 Posts
Rep Power: 1319
StaticFX has a reputation beyond reputeStaticFX has a reputation beyond reputeStaticFX has a reputation beyond repute
Re: 84 Month Financing?

i didnt read past the first few.. if you have to go to even a 60 month loan because thats the only way to afford it, your are not able to afford it. Its just that simple. Just like you should never buy a car with cash (or a house). 84 months is INSANELY long and when it drops out of warranty... better hope you dont need to fix anything.

DONT DO IT.
__________________

__________________
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
0% financing for 36 months now on SRT8!!! Jeeps Grand Cherokee SRT - WK2 32 11-09-2011 06:13 PM
Financing rates gonzanc Grand Cherokee - WK2 - 2 04-05-2011 05:36 PM
Financing Question mongo1271 Grand Cherokee - WK2 - 34 02-08-2011 08:45 PM
Chrysler/Jeep Financing? Hollywood Grand Cherokee - WK2 - 18 01-10-2011 02:12 AM
Financing rates? Danco Grand Cherokee - WK2 - 52 12-29-2010 10:26 PM

Powered by vBadvanced CMPS v3.2.3

All times are GMT -5. The time now is 09:57 AM.


Powered by vBulletin® Version 3.8.8 Beta 4
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
Copyright 2012 - JeepGarage.Org
The Jeep Grand Cherokee Owners Community

JeepGarage.org is in no way associated with or endorsed by Chrysler Group LLC.