Sled prices falling large ?

[Spiderman]

22 minutes ago, stoney said:

 

CC is likely the one that would be more common - but if the Mortgage default numbers are higher, that would be a major indicator of how bad it might be rather than possible toys not moving.

On the second, likely never to know as I do not think anyone would officially share that info.....but I agree.

 

On another mindset of this, had a discussion over the holidays about how many "high end" cars are on the road these days around us - which reminded of a friend that bought a X5 a few months ago after the first person that was looking to buy it could apparently not get approvals on two loans in order to buy it (not that I sure that info was supposed to be shared) 

Mindsets have changed on debt.

I also firmly believe some people are so far into it - with no real hope of ever getting out that they are okay with just piling it on and enjoying life now instead of worrying about it. 

Life is short - can't take it with you

[stoney]

12 minutes ago, Spiderman said:

Mindsets have changed on debt.

I also firmly believe some people are so far into it - with no real hope of ever getting out that they are okay with just piling it on and enjoying life now instead of worrying about it. 

Life is short - can't take it with you

 

Well then in that case, "we" need to tighten those loan restrictions some more to mitigate the collateral damage by those with that mindset....if you cannot be responsible, then sadly someone else will need to be for you......and people wonder why outside bodies need to make decisions for you.

Me, I could not make financial decisions that I am not comfortable with and only think of the me, me mentality.....regardless of how short life might end up being.

 

Anyways, sorry for the sidetrack.

Those new 858 Cats might be worth a whole lot less now too - readings some articles yesterday of potential major engine design flaw with the cranks being out of spec, not even able to be machined to get in spec.

It is the internet and could be all over hyped, but man would that not just totally suck and add more salt to the wound. 

[1049]

1 hour ago, stoney said:

Anyone have hard data on credit card and mortgage defaults in Canada as of late? 

Just for perspective since it obviously will paint a better picture of the financial state.

 

Also wondering how busy things will be this year for bookings, restaurants, traffic, etc......will be booking lodging soon for a Feb trip so I guess we will see.

 

Not to try and get this topic off track of course....

We booked our February 10 day Quebec trip end of November and there were a couple places already booked up at that point . We have never booked that far ahead before we need 4 rooms and some remote areas. 

[Blackstar]

3 hours ago, Strong Farmer said:

For you guys buying used private sleds. Are you doing a lien search before paying for unit. Call mto with vin number or does seller have to provide documentation?  Thank-you! Different times now. I just don't want to find out when I go to register it, it has a lien on it 🤣

Never done a lien search on any vehicle in my life. Never had an issue.

 

Once way back, I did buy a truck with a loan on it and I had to make the cheque payable to the owner and his bank. But he told me that up front.

[stoney]

2 minutes ago, 1049 said:

We booked our February 10 day Quebec trip end of November and there were a couple places already booked up at that point . We have never booked that far ahead before we need 4 rooms and some remote areas. 

Hopefully when we book shortly, we are lucky enough to find what we need or adjust some things to make it work! 

[Strong Farmer]

5 hours ago, stoney said:

Hopefully when we book shortly, we are lucky enough to find what we need or adjust some things to make it work! 

When are you going? 

[Sledguy74]

[RAMSOMAIR]

0% and still $22k lol. 

[Strong Farmer]

35 minutes ago, RAMSOMAIR said:

0% and still $22k lol. 

No it's just a monthly payment now. lol  36 months not a bad deal. Polaris is offering 3000 off at moment or zero percent and second year full warranty. 

[Sksman]

35 minutes ago, RAMSOMAIR said:

0% and still $22k lol. 

0% feels good but your paying the finance.

[Strong Farmer]

28 minutes ago, Sksman said:

0% feels good but your paying the finance.

No cash discount then you're right. Question if you can make more hanging onto money and making monthly payment 🥳

[Spiderman]

1 hour ago, Sksman said:

0% feels good but your paying the finance.

Explain what you mean.

[tricky]

16 hours ago, Spiderman said:

Explain what you mean.

I won't speak for SKSman, but every 0% finance offer on a vehicle that I have ever experienced, came with an offsetting cost similar to the Polaris 0% or $3000 discount, if bought outright with cash money. Sometimes the selling outfit does not (wish to) make it clear that utilizing the 0% finance will cost you hard cash money that you forego when you finance. I bought a Ram 2500 in 2011 that had a 0% financing offer. No where did the dealership allow that I could save $5000 by paying cash, but I poked around until that surfaced. Then I payed cash for the truck. Fast forward to October 2024, and my impatient adult daughter had to have a new Jeep Grand Cherokee L. She explained to me how it could be bought with free money (0% financing was being offered). I told her that atmospheric oxygen was free for the time being, but about everything else costs $$$. Sure enough, when she asked the questions, the "free" financing was at the expense of a roughly $5000 discount available to cash buyers. She went ahead and bought the Jeep but with cash sourced elsewhere. Now that vehicle new is getting cheaper by the week. Can't learn all lessons at once. To her credit though, she got almost $4000 over normal wholesale for her trade-in, which sealed the deal.

Edited January 3, 2025 by tricky
Correct year

[Sksman]

8 hours ago, Spiderman said:

Explain what you mean.

It’s a common practice in sales for dealership or manufacturer to buy down the rate.   Offer 0% financing but the interest cost is buried in the deal.  Basically you add the cost of the borrowing period into the deal.

 

As Tricky says there should always be a cash discount behind most 0% deals.

 

No company can afford to offer 0% out of goodness of their heart.   Unless they have the room to offer an incentive in the price.  What company can give away potential profits?
 

Now they may offer 12 months 0% term in hopes of getting sale and only carrying the interest on loan for one year.  Lower finance costs of deal for 12 months over a 3 or 5 year deal so smaller discount eaten And with hopes of sucking in the buyer into a longer term higher rate finance deal at end of 12 months.  

[Spiderman]

1 hour ago, Sksman said:

It’s a common practice in sales for dealership or manufacturer to buy down the rate.   Offer 0% financing but the interest cost is buried in the deal.  Basically you add the cost of the borrowing period into the deal.

 

As Tricky says there should always be a cash discount behind most 0% deals.

 

No company can afford to offer 0% out of goodness of their heart.   Unless they have the room to offer an incentive in the price.  What company can give away potential profits?
 

Now they may offer 12 months 0% term in hopes of getting sale and only carrying the interest on loan for one year.  Lower finance costs of deal for 12 months over a 3 or 5 year deal so smaller discount eaten And with hopes of sucking in the buyer into a longer term higher rate finance deal at end of 12 months.  

Got it.

So, the only thing i would need to help me is to make sure the cash deal saves me more money than I could make with that same money over the same period.

 

$5,000.00 cash discount was mentioned before.

So for me, say the vehicle cost is $30,000.00 with the $5,000.00 cash discount - so $35,000.00 with the 0% financing - say for 48 months - can I make more than $5,000.00 in investment income with that $30,000.00 over 48 months? and leave my money to me to work it? rather than just hand it over?

 

If the answer is yes - and then I'm taking the financing - if the answer is no - then cash it is.

 

 

[Sksman]

15 minutes ago, Spiderman said:

Got it.

So, the only thing i would need to help me is to make sure the cash deal saves me more money than I could make with that same money over the same period.

 

$5,000.00 cash discount was mentioned before.

So for me, say the vehicle cost is $30,000.00 with the $5,000.00 cash discount - so $35,000.00 with the 0% financing - say for 48 months - can I make more than $5,000.00 in investment income with that $30,000.00 over 48 months? and leave my money to me to work it? rather than just hand it over?

 

If the answer is yes - and then I'm taking the financing - if the answer is no - then cash it is.

 

 

With the 0% the cost of financing is added into deal up front.  If you pay it off early you still pay the same price.  
 

With standard rate financing if you pay off early you can reduce your interest cost also.  So increase principal or payments and reduce the borrowing cost.

 

 

 

 

[Spiderman]

7 minutes ago, Sksman said:

With the 0% the cost of financing is added into deal up front.  If you pay it off early you still pay the same price.  
 

With standard rate financing if you pay off early you can reduce your interest cost also.  So increase principal or payments and reduce the borrowing cost.

 

 

 

 

Got it.

It's simple for me - if its cheaper to take it out of where it's working for me and hand it over, then that's a deal, if it's not - then leave it where it is, let it make/grow - and move on.

[Strong Farmer]

1 minute ago, Spiderman said:

Got it.

It's simple for me - if its cheaper to take it out of where it's working for me and hand it over, then that's a deal, if it's not - then leave it where it is, let it make/grow - and move on.

Yeah I had some stock I didn't want to sell so I have taken zero percent before too. When you make 1000 percent it's a no brainer to pay monthly and keep money working 😎

[stoney]

10 hours ago, tricky said:

I won't speak for SKSman, but every 0% finance offer on a vehicle that I have ever experienced, came with an offsetting cost similar to the Polaris 0% or $3000 discount, if bought outright with cash money. Sometimes the selling outfit does not (wish to) make it clear that utilizing the 0% finance will cost you hard cash money that you forego when you finance. I bought a Ram 2500 in 2011 that had a 0% financing offer. No where did the dealership allow that I could save $5000 by paying cash, but I poked around until that surfaced. Then I payed cash for the truck. Fast forward to October 2023, and my impatient adult daughter had to have a new Jeep Grand Cherokee L. She explained to me how it could be bought with free money (0% financing was being offered). I told her that atmospheric oxygen was free for the time being, but about everything else costs $$$. Sure enough, when she asked the questions, the "free" financing was at the expense of a roughly $5000 discount available to cash buyers. She went ahead and bought the Jeep but with cash sourced elsewhere. Now that vehicle new is getting cheaper by the week. Can't learn all lessons at once. To her credit though, she got almost $4000 over normal wholesale for her trade-in, which sealed the deal.

How is the Jeep GC L?

We bought a 2024 this past summer, so far pretty good. 
 

14 minutes ago, UsedtoSkidoo said:

nothing is free................................ever!

Lots of great “free” advice right here on this forum…whether you asked for it or not…lol

[Spiderman]

Cat or not - pretty solid deal here guys.

 

https://aberfoylepowersports.com/New-Inventory/adid/32743076/2024-Arctic-Cat-NEW-ZR-8000-137”-RR-1.25”-ES-SAVE-%246-480-PLUS-%241-000.00-IN-STORE-CREDIT-Puslinch-ON/

[tricky]

4 hours ago, stoney said:

How is the Jeep GC L?

We bought a 2024 this past summer, so far pretty good. 
 

Vehicle has been great for her so far. Already has over 7K km. Ride, comfort, features all good. Some others report that the 3.6L na engine is not enough, but coming from an Explorer with 3.5L na, my daughter is happy.

[stoney]

4 minutes ago, tricky said:

Vehicle has been great for her so far. Already has over 7K km. Ride, comfort, features all good. Some others report that the 3.6L na engine is not enough, but coming from an Explorer with 3.5L na, my daughter is happy.

Ya, ours has been good too, very comfortable and great ride....we have around 12K though - I guess your daughter does not drive much!

Had the option of 5.7 or 3.6 - opted for the 3.6 since it is not used for anything towing related and the refined 3.6 with the 8-speed tranny performs very well IMO.

[tricky]

14 minutes ago, stoney said:

Ya, ours has been good too, very comfortable and great ride....we have around 12K though - I guess your daughter does not drive much!

Had the option of 5.7 or 3.6 - opted for the 3.6 since it is not used for anything towing related and the refined 3.6 with the 8-speed tranny performs very well IMO.

Good observation! Purchase was actually late October 2024.

[stoney]

3 minutes ago, tricky said:

Good observation! Purchase was actually late October 2024.

ah, that makes more sense!

We were late Jun, so just over 6 months thus far.

[Strong Farmer]

1 hour ago, tricky said:

Vehicle has been great for her so far. Already has over 7K km. Ride, comfort, features all good. Some others report that the 3.6L na engine is not enough, but coming from an Explorer with 3.5L na, my daughter is happy.

My old liberty has 3.7, I believe. It's lots of power. My mechanic says I got only good one. Still runs great after 22 years of driving it. 😀 it will tow 5000 ibs no problem. I hope she enjoys it