Financing through GP

[Chagawaga]

Anyone tried using Financing through GP?
Im an individual (not business) have two Humvees and REALLY want one tomorrow that will probably go for +20k

 

[98G]

Probably more like +$60k.


Me, I strongly advocate against borrowing $$ for toys.

 

[Bravojmc]

Probably more like +$60k.


Me, I strongly advocate against borrowing $$ for toys.

My thoughts exactly. if I don't have the cash to buy, I don't buy!

 

[LouWon]

Amen, they are big boy toys, pay cash and then pay and pay again, if you are on a budget , do not buy, because there is no set limit on the upkeep.

 

[Chagawaga]

I have muy money in two humvees and an f150 that I don't use........ Ahhhh i guess things happen for a reason

 

[maa45069]

I would not finance something that I know has potential of costing more than purchase price in repairs... My friend you should wait.

 

[LouWon]

I understand Chagawaga, no disrespect, but ever since I bought mine it's been non stop, winch, rear airlift bumper, tires, oil leaks, fuel pump, all lights, lot of it are stuff I wanted , but since you have a few , you know what I mean, it,s not budget friendly, and there always seems something that need attention.
But being to drive that beast without any doors on nice day is worth all of the trouble
By all means, if you want one , then go for it, at least you know what you are getting into.
All I would say is get it as complete as possible, with everything you want.

 

[1 Patriot-of-many]

I wasn't aware GP finances. It popped up once on my screen when I first signed up, there was a financing tab, I filled out short info then I never saw it again, and slightly later someone was fing with my bank account, changing the address ect in my profile at the bank site.....

 

[FloridaAKM]

If I can't pay for it, I can't have it. Financing Green Iron is sure lane straight to the poor house. Premium fees are bad enough, interest on the principal............no way!

 

[98G]

I'm here to say "I told you so"

I called it, nearly exactly to the dollar....

 

[Chagawaga]

I'm here to say "I told you so"


I called it, nearly exactly to the dollar....

View attachment 673016

Hahaha it got crazg

 

[Bobert]

Do it! You never know, if you wait until you save up all the cash, they could be outlawed again.

The arguments against it are that toys and cars are a depreciating asset. If you do it right, a humvee could go up in value and be a smart investment.

 

[dmetalmiki]

Always bear in mind that there is ALWAYS another (type of?) Cheaper alternate for your collection that will do exactly what your first choice might (or might not!) have done. I have desired SO many things (vehicle wise) ..but without the cash to have them, I dropped down the scale of choices.
And have always found the the 'drop down' choices to be more than adequate and satisfactory.
I have a reasonable (for me) collection now,. No outstanding financial commitments, NO worries. And a little 'left in the pot' to keep 'em rolling.(In a manner to which they were(Are) accustomed!? (Yeah!.."genuinely lol"))

 

[Wire Fox]

I'm the fool that took out a small cash loan to finance a HMMWV, but I did it through my credit union that I've been a member with for several years and have financed other vehicles. I did it because I had already determined the criteria of exactly what I wanted, how much I was willing to spend on it, both for running condition or needing certain repairs. As well, I had decided I would wait until that exact pick became available within my state. I figured out what sort of financing I would be eligible for and could afford to pay...and then I waited. It was about two months of waiting before I finally saw that right set of listings. Naturally, all of the running ones bid outside of my range, but a non-runner came in below my budget mark and I got it for opening price. Went to the credit union same-day and signed the paperwork for the cash needed and then immediately wired it from the bank to GP. All of this knowing that at the worst, I might just have to tow this vehicle down to my parents' place and register it as an OHV in order to be able to drive it around county roads and take it off roading. I'm glad I took out the loan because I got the right-for-me HMMWV at a price I can afford to pay. It would have been cheaper to wait to have a reserve of cash and then buy the next one to fall within that criteria, but I felt that I had a real understanding of the risks and was willing to accept their consequences. So far, I'm satisfied, but I haven't made it all the way to the end of the game yet.

 

[Chagawaga]

Thank you wire fox for your feedback

 

[MaverickH1]

I "financed" my HMMWV as well. Since I'm using it as just another pick-up truck at the moment, it was like any other vehicle purchase. The difference was that I was going to sell my VW from the diesel emissions scandal and put that money towards a HMMWV. When VW was dragging their feet and making people wait, the M1123s came along. 6 had sold when I felt like I couldn't wait anymore. I went to my bank and basically did a title loan on the VW.

A few months later VW bought back the car and now I own the HMMWV free and clear.

Win/win. Financing cost me about $250 over 6 months due to VW dragging their feet. But to me that was well worth it to secure my dream car.

 

[tage]

I "financed" my HMMWV as well. Since I'm using it as just another pick-up truck at the moment, it was like any other vehicle purchase. The difference was that I was going to sell my VW from the diesel emissions scandal and put that money towards a HMMWV. When VW was dragging their feet and making people wait, the M1123s came along. 6 had sold when I felt like I couldn't wait anymore. I went to my bank and basically did a title loan on the VW.

A few months later VW bought back the car and now I own the HMMWV free and clear.

Win/win. Financing cost me about $250 over 6 months due to VW dragging their feet. But to me that was well worth it to secure my dream car.

i'm dragging my feet on the vw claim too, but no way in **** would I finance any of my toys.

 

[patracy]

Do it! You never know, if you wait until you save up all the cash, they could be outlawed again.

The arguments against it are that toys and cars are a depreciating asset. If you do it right, a humvee could go up in value and be a smart investment.

And I'll have tomorrow nights winning lottery ticket.

I'm betting a lot of people that rushed out to by AR15's after some past events for $3000 or so (Talking about a $600 rifle) wish they'd have not spent that money now.

 

[m16ty]

As Patracy pointed out, don't plan on buying a HMMWV and it going up in value. Nobody knows where the long term market is heading and there are a whole lot of factors that can be done by the stroke of a pen that can greatly affect the HMMWV market overnight.

I'm in the "never borrow for toys" crowd. I haven't borrowed for anything since I built my house in 2006.