2022 Tundra vs 2022 F-150 opinion?

Are variable rate mortgages common up there? That would make me loose sleep too. My mortgage balance is similar but we are locked at 3.125% for 30 years.

 

It still has chest hair upholstery though, right?

 

It’s a deal breaker for me for when we visit our Colorado cabin or family in KS.

Also a dealbreaker on the fact my 30k crv has it and my 80k raptor wouldn’t.

looking for 22 raptor now and looking at acquiring another TRD pro

 

Can you link that article? MY2023 Raptor scheduling has began, and there's been no mention of those options being deleted from builds.

 

https://blueovalforums.com/forums/i...ion-information/&tab=comments#comment-1193630

I accidentally found it. I clicked in the Raptor R sub forum instead of the Gen 3 Raptor sub forum.

no one has a window sticker yet as first scheduled production week is the 17th. I think speculation is the first window sticker comes out this weekend so we can see

 

Honestly that flub has me leaning towards sushi’s pro now.

fun ruin and looks of tundra but wife can drive it

 

I love my 4S Yamaha, but that OX66 is free and thats a LOT of gas money. Plus extra torque

 

That's my thinking. I ordered all the parts for a full service, including headgaskets and thermostats. Going to pull the heads and check how clean the water jackets are. I like tinkering so I think I can get a couple years out of it. I did have to buy some ear protection for the baby though.

 

Ok I lied. That $15k buys a bunch of gas, and more speakers so you can hear the music while running

 

There are a number of people in the GTA buying properties right now because they pre-qualified in June before the big rate increases.
With the recent in some cases 15% - 20% drop in prices its appealing and why not.
But come later October / November ...watch out. Everyone looking need to re-qualify at 7 + per cent.
This graph tells the story very clearly. Something has to give. It won't be income or rate decreases.
I had a mortgage in 1988. Houses were $200k and mortgages were 15% +

@Bannerman - going by memory on the stats 50% of new mortgages were variable since the Pandemic.

 

360 camera is amazing. I have a 6.5 bed supercrew. The extra foot adds a surprising level of difficulty to u turns but I can now maneuver this barge through a tight lot or into any downtown parking spot where it’ll fit about as easily as a mini cooper. I remember having brief wheel time in a BMW 7 series about 10 years ago with this and thinking “Holy s@&t this will be incredible if it ever goes mainstream.” I was a bit intimidated taking a 6.5 foot bed truck but this has made it completely livable.

 

what province is your dealer located in ?

 

Whaaaattt?

No heated mirror? Seriously?

I recall Ford also removed the cool little LED numerical temp display from inside the knobs on the F-150 last model year....I thought that was a cool touch....

 

Don’t even get me started on that lol. I got flamed for the lightning msrp going up but they removed the ambient lightning in th door, bin and cup holders.

the ford cucks called it no big deal but no. Sorry. The fact they raised msrp and took features away is bs. Then they started crying when they took away smart hitch, onboard scales and park assist lol

 

at some point its just time to shut down until they can build things right, not these half assed trucks for top dollar and all that missing.

at least toyota hasn't done that yet that Im aware of, when you order a platinum you get all the stuff

 

Toyota did the same thing in 2014. Deleted several features and options (interior features and storage, engine options) in the middle of the 2nd generation while continuing to raise MSRP.

Ford did just say somewhat recently that they were committing to decreasing their out of control warranty costs. Maybe this is part of that. Or it’s just the result of inflationary costs/scarcity of necessary parts, and the increase is being passed onto the consumer.

 

No way do any of the manufacturers of trucks cut content because of raw materials costs. They may use that as an excuse but trucks have massive profit margins.

I think these manufacturers are definitely defending their massive margins and passing every little increase onto us using economic conditions
as the excuse.

Warranty and chip shortages are plausible, but to hit customers with reduced content and then higher prices... seriously these manufacturers are becoming like politicians....no shame even in the obvious.....

 

Yes. My rate is variable and it went up to 5% since March this year from 1.3%!!!
My monthly payments are getting close to 2X compared to Jan this year.
All Canadians with fix rate mainly do 5 years rate hold. Then renegotiate every 5 years. So for many of them next year will be a brutal awakening…

 

If they will continue increasing rates at the same paste.., most Canadians will end up returning keys to the bank…

double digit mortgage rates were hard on people back in 90s with low mortgages. today it will result in 10,000$ Monthly mortgage payment.. who can afford it!?

 

I don’t think these profit margins are as massive as one might think given the sustained levels of inflation we’ve been sitting with over the past several months.

 

Agreed.

And all of this is why I'm super happy my truck is paid off. I mean, we all made it through the recession of 2008, but it wasn't 'fun' and I'd rather not be saddled with any more debt than I need to be.

 

not to be insensitive to anyone who will lose their home, because that’s an awful situation to experience but the people who didn’t buy more home than they could afford understanding their rates could change, and those who put a solid down pymt and took a less risky traditional fixed rate loan, will weather the storm.

 

They'll never show their hand.

Just like any business, they're going to pass on all the costs.

 

This is crazy to me. My loan balance is about $770k, (house is worth twice that) I wouldn't be able to sleep if this was hanging over my head. Seems like a terrible decision so sign up for a variable rate even if you can afford it. You are basically agreeing to a deal where you don't know the terms....

 

I will say kudos to Toyota. Seems to be the only manufacturer that isn’t cutting things or having to park for chips.

and they are crediting $140 for heated steering wheel, heated mirrors. Womp womp .

I really wanna raptor but I really don’t want to keep bending over and taking the bs .

 

Actually - that's not the crazy part. U want crazy? The thing that no one wants to talk about - the Elephant in the Room ?

its that when people took out these variable rate mortgages the payment structure was like a fixed mortgage to start principal/versus interest ratio.
With a bank like TD the payments remain the same and the ratio changes as rates rise.
With the current rates the monthly mortgage payments are mostly interest now. So that is really like paying rent now with pandemic era variable rate mortgages.
Not much going to principal.
In an environment where prices have dropped 20% in the GTA and heading lower.
In order to not have to pay for mortgage insurance here we need to have a 20% deposit when buying. Well prices have dropped 20%

https://betterdwelling.com/toronto-real-estate-prices-have-dropped-over-224000-in-just-6-months/

Note that In Canada - on our principal residences we can't write off the interest but we also don't pay Capital Gains tax when a principal residence is sold. There had been talk of removing this exemption.

 

So wait, if the rate changes, the monthly payment stays the same but just the amortization schedule changes?

 

Depends on the lender regarding the capped payments but yes. Now the problem is with the last rate hike, alot of these variable mortgages were "triggered", or will be with the next rate hike this month, because no more principal is coming off. So the bank in line with the mortgage contract, raises the monthly payment - without even have to advise the client they are doing it.

 

Are people signing up for this type structure voluntarily or because it's the only kind of mortgage they can get due to poor credit or something? Like is this just for subprime buyers?

 

It was/is their choice and it is still their choice to lock in to a fixed at any time.
All I can tell you is my experience. I went through 1988. I know that normal Mortgage rates are 4-5-6-7% in a normal environment. When family members took 1.4% variable mortgages, I as an investor with no mortgage, saw 1.65% fixed 5 year rates offered, and I jumped on this free money. As the rates rose I pushed and pushed family members to lock in...... it won't last I told them. They are younger 25-30, their mindset is different. It's all about buying and leveraging.