Quote:
Originally Posted by Egrunt
The M2 is one of the vehicles my wife is considering. Navy Federal is offering 4.74% for 60 months. Her M2 build is coming in with a MSRP of $74,550. If we go with the M2 I will pay cash. With our M5 back in 2018 I did a loan at .9% for 60 months and also put 50k down on the M5. I still paid the M5 off in under 3 years. With the M2 paying drive off fees at 4.74%, we will pay $9,329 in interest over the 60 month term. Paying cash for any vehicle is the direction we will go moving forward.
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I just reran my numbers last night after reading this and decided to do 50k and borrow 20k because of how much interest I'd be paying.
I've changed my mind so much on this I may even still just do cash but I opened a new CD b/c of the rates and may to take a minor penalty on it if I do more than 60k down.
