Ford Maverick Pickup?

[KennyG]

The last time I borrowed money for a car was in 1982, which was also the second and the last time in my life when I have bought a brand new car!

It's great to not to have monthly payments.

I've only paid cash for the last couple of new cars. Before that I always had the money but they offered 0% financing and it made no sense to pay cash.

 

[ArlyA]

We rode in a maverick on Monday and liked it. Front and back seats.

 

[5030]

Just to be argumentative; there is an opportunity cost associated with paying cash as well. No such thing as a free lunch. Honestly, purely money talk, you are likely best to fiance through a dealers "preferred lender", get the discounts, and then pay it off quickly.

Never experienced that. The only thing I do when paying cash is, I pay it in less than 10,000.00 increments. If you pay for anything via cash or bank check over 10 grand am interval, the selling dealer has to notify the government of that transaction and I don't want the government snooping in my personal business anymore than it already does, so I pay incrementally below 10K a shot. until paid off, then I take posession of the ride. That 10K or less acan be over a couple days or even a day so long as each increment is via a different bank check or certified instrument, drawn on different accounts at dofferent institutions (I have acounts at more than one bank). Of course I prefer 90 days same as cash or 0 perent interest, which is wat I did with my new 2 year old round bailer. Kubota gave me 0 percnet interest for 3 years and quarterly payments. No issue with that and my dealer gave me a very favorable trade in allowance on my trade in bailer. We are totally allergic to finance charges or interest payments and we have the where with all to do that. I suspect a lot of people don't.

Finally, retirement for us didn't come with a money issue. We are continuing on just as wel did pre retirement. Difference is, now we have more free time to ourselves. My only 'headache' if you want to call it that is the business and my employees and I'm considering liquidating that as well. All the shop equipment is free and clear and has been. I apply my no finnance principle to the business just like our personal stuff. Last year I purchased 3 new welding machines and a CNC plasma table and paid for everything up front. Shop Saber allowed me 90 days SAC so I went that route with them and the table alone was over 30 grand. Like I say, there is No romance in the finance.

 

[5030]

We rode in a maverick on Monday and liked it. Front and back seats.

Considering where you live and the build quality as depicted in the YT video in this thread, all I can say is good luck. If your Bronco 2 is comparable, good luck with that as well.

 

[paulsharvey]

Pretty much all vehicles have things on the "build quality" and "engineering choices" that make you scratch your head. So, in this market, you have Honda Ridgeline, Maverick, and Hyundai Sante Cruz. As outliers, you have Tacoma, Frontier, Ranger, and Colorado. Any of them, each has its own compromises.

Right now, if in the market for small, efficient, new, truck; I would consider the Nissian Frontier, just because it seems to still be available within a pretty reasonable budget, starting around $33k with rebates or $36k cash. Or about a $5k premium over the Maverick. Rangers/Tacos/Colorado, you might be able to order a base, but i just don't think I've seen them.

Also, I have kinda assumed the Mavericks price is a major factor, but I might not be correct.

 

[5030]

Why Japanese cars and small trucks became so popular here. They are built better, are more efficient and return better value than their domestically made counterparts.

Reminds me precision machinist tools. Way back when, when they started selling precision machinist tools here, they were considered and looked like junk and everyone shied away from them and purchased Starrett or Browne and Sharpe or even the European tools but the Japanese precision tools over the years have improved to the point where they are actually superior to the domestic brands today. While I still prefer Webber Gage (Starrett) Cro Blocks over anything else. The modern Starrett and B&S precision tools have taken a backseat to the Mititoyo tools.

Who's fault is that? Of course the domsetic manufactirers who have been lax on quality and that applies to vehicles as well.

Besides, the stupid pricing of domestic vehicles don't meld well with the lack of quality. We have went from good vaule for dollas spent to high cost. middle of the road quality. That don't play well with a lot of consumers today and certainly not with me.

 

[ruffdog]

OP,
Sorry we are way off track.

You were asking about Ford Maverick.................

We rode in a maverick on Monday and liked it. Front and back seats.

I'm seeing more and more of the small trucks and I think they would do great for their intended purpose.

 

[Blue Mule]

The reason Ford has sold more Mavericks than they can build is because of price. As that annoying commercial on TV says, "Price. Price. Price." You can buy a very well equipped Maverick for $35k and it'll tow 2 tons. You cannot even look at a Tacoma for that price, and with all the problems Toyota trucks have had over the last 4 decades why would he want to?

If Ford would have put a 5' bed on the Mav instead of the little 4' bed, they would be the perfect urban pickup truck. You can do so much with them.

 

[DarkBlack]

Never experienced that. The only thing I do when paying cash is, I pay it in less than 10,000.00 increments. If you pay for anything via cash or bank check over 10 grand am interval, the selling dealer has to notify the government of that transaction and I don't want the government snooping in my personal business anymore than it already does, so I pay incrementally below 10K a shot. until paid off, then I take posession of the ride. That 10K or less acan be over a couple days or even a day so long as each increment is via a different bank check or certified instrument, drawn on different accounts at dofferent institutions (I have acounts at more than one bank).

Looks like you do a bunch of nonsense for no benefit. The dealer still has to report form 8300, if the total of your payments meets or exceeds $10k.
Doesn’t matter if you pay $32k in one cash payment, or over 4 days with $8k. Might as well simply give the dealer a bank check for the total, instead of waisting time trying to fly under the radar

 

[WinterDeere]

Just to be argumentative; there is an opportunity cost associated with paying cash as well. No such thing as a free lunch. Honestly, purely money talk, you are likely best to fiance through a dealers "preferred lender", get the discounts, and then pay it off quickly.

Agreed. I buy my cars cash, because we can afford to, and it's just easier for me. But as much as I'd like to pretend I'm saving money, the truth is that there are many good reasons for financing a car. Dealer incentives are one big one, you can almost always work a lower price or take advantage of special deals offered by financing through the manufacturer's finance company (e.g. Chrysler Capital), but also consider the financing rate versus what that money could be doing for you elsewhere.

In at least two cases I can remember, we ended up financing a car just to get a special deal on the purchase price or warranty. In both cases, we had the option to pay the loan off in total after 3 months, which we did. But when really looking at the math, I'm not convinced we saved much or anything by doing so.

 

[WinterDeere]

Looks like you do a bunch of nonsense for no benefit. The dealer still has to report form 8300, if the total of your payments meets or exceeds $10k.
Doesn’t matter if you pay $32k in one cash payment, or over 4 days with $8k. Might as well simply give the dealer a bank check for the total, instead of waisting time trying to fly under the radar

Today, yes... thanks to the addition of Suspicious Activity Reporting (SAR) placed on banks by FinCEN, which will be triggered by several consecutive days at $8300. But in 5030's defense, that was not the case until recently, the older requirement was only triggered by a daily total exceeding $10k (see Currency Transaction Reporting = CTR).

But I do agree it's a lot of work for no purpose. Buying a car is not suspicous activity, so why work to avoid the reporting?

 

[ning]

Today, yes... thanks to the addition of Suspicious Activity Reporting (SAR) placed on banks by FinCEN, which will be triggered by several consecutive days at $8300. But in 5030's defense, that was not the case until recently, the older requirement was only triggered by a daily total exceeding $10k (see Currency Transaction Reporting = CTR).

But I do agree it's a lot of work for no purpose. Buying a car is not suspicous activity, so why work to avoid the reporting?

Because buying the car may not be suspicious activity, but the source of the money may be... or the taxes paid on the money - or not - may be.

 

[5030]

Looks like you do a bunch of nonsense for no benefit. The dealer still has to report form 8300, if the total of your payments meets or exceeds $10k.
Doesn’t matter if you pay $32k in one cash payment, or over 4 days with $8k. Might as well simply give the dealer a bank check for the total, instead of waisting time trying to fly under the radar

Try it somethime if and I say if you can afford to. I don't mind paying taxes and/or dealing up front and proper but if there is a grey area and I'm aware of it, I pursue it. We didn't get to where we are today (wife and I) from not applying every 'legal' trick to do what we want to do.

Your mileage may be different and that is really not my concern at all..

Flying under the radar and being above board but applying every legal trick to avoid hassels is smart, not dumb, like you may be...

Didn't waste any time actually and the dealer was happy how it transpired as well.

I'm not and never have been a person who desires instant gratification when purchasing any physical product. I have all the time in the world to wait and so did the dealer in that case and they knew EXACTLY what I was doing.

Most folks cannot do that. I/we can.

 

[Jstpssng]

The reason Ford has sold more Mavericks than they can build is because of price

This is why I am looking at them. For >30k you can have something which is relatively good on gas, and leave your Ram 3500 in the garage until you need to tow something.

I don't have a Ram 3500, which is why I bought a Colorado instead.
Somebody mentioned the Ridgeline. I looked into those briefly; but at 16 mpg, I will pass in them.

 

[paulsharvey]

I know everyone Claims they don't care about looks, just function, but we all know that's not true. The Maverick does look less like a car than the newer Ridgeline/Hyundai.

I see so many fake things online, but the Toyota Corolla truck is another very car looking truck.

 

[DarkBlack]

Flying under the radar and being above board but applying every legal trick to avoid hassels is smart, not dumb, like you may be...

Why the big fat personal insult?
Your ignorance, and endless arrogance is in display here. Ww

“That 10K or less acan be over a couple days or even a day so long as each increment is via a different bank check or certified instrument, drawn on different accounts at dofferent institutions (I have acounts at more than one bank).”

You’re certainly ignorant to the fact that multiple bank checks don’t relieve the dealer from reporting your transaction with them, even though I just mentioned it earlier today. The dealer is still reporting all your information. You’re just not aware of it. You really think the government didn’t think of people like you, trying to do what you’re trying to do?

The fact that you’re trying to hide the purchase of a vehicle..which everyone purchases vehicles …while simultaneously blabbing about your method to skirt around reporting laws.. on a public forum. That’s priceless

Here’s some reading to get you started:

Report of Cash Payments Over 10000 Received in a Trade or Business Motor Vehicle Dealership QAs | Internal Revenue Service

The Motor Vehicle Technical Advisor Program in conjunction with IRS specialists on money laundering would like to assist dealers in their compliance with the filing requirements of Form 8300. In pursuit of that goal, we have compiled a list of dealership specific questions and answers.

www.irs.gov

IRS 8300 Form For Car Dealers (2024)

Reporting cash payments! Everything you need to know about the IRS 8300 Form when selling used cars. New form revised 12/2023

kgidealersolutions.com

written for you

Today’s tip. Wire transfers and personal checks are exempt..

 

[ultrarunner]

OP,
Sorry we are way off track.

You were asking about Ford Maverick, which I know nothing about - my truck is 99 F350 4x4 dually crewcab 7.3 Diesel.

No problem as I enjoy the friendly sidebars…

I’m thinking the Maverick will work for what he has in mind…

 

[DarkBlack]

No problem as I enjoy the friendly sidebars…

I’m thinking the Maverick will work for what he has in mind…

Sorry bout that

 

[paulsharvey]

I think he will be happy with it.

 

[KennyG]

I think multiple transfers just under $10,000 would attract more attention than a big transfer. I wouldn't assume no one knows about it. I make several transfers of $10,000 to $100,000 every year and so far, no SWAT teams or black helicopters.