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Jan 30, 2023
11:21
:30
am
RockyBalboa
Truly Addicted User
Wait is the avg car payment really well over $700/month now?
I can't even fathom that. I mean......................why would you do that?
This message has been modified
Originally posted on Jan 30, 2023 at 11:21:30am
Message modified by RockyBalboa on Jan 30, 2023 at 11:21:40am
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RockyBalboa
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MesaCougar
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RockyBalboa
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Apr 24, 2002
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May 27, 2023
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Related Threads
Children:
How do you draw the line on knowing how much to invest vs how much to spend?
(crack, Jan 30, 2023 at 11:53am)
Messages
Author
Time
Wait is the avg car payment really well over $700/month now?
RockyBalboa
Jan 30, 11:21am
You think all the people buying $85k cars are doing so in cash?
Salami Karate
Jan 30, 11:22am
Or it could be a high credit risk buyer making a bad deal.
BlueFever
Jan 30, 11:27am
or you could be buying an average priced new car with 20% down... $720mo
TheLost
Jan 30, 11:33am
Keep Dave Ramsey popular
calvindyer
Jan 30, 11:24am
What does this have to do with Dave Ramsey?
RockyBalboa
Jan 30, 11:39am
72 and 84 month terms on those loans too.
fulano
Jan 30, 11:26am
RE: Wait is the avg car payment really well over $700/month now?
md7Coug
Jan 30, 11:26am
I have a car payment that is about $800 a month
cougarfann888
Jan 30, 11:27am
That is pretty remarkable. The average rate was over 4% at that time nationally.
Charles Darwin
Jan 30, 11:31am
I got a truck with zero percent interest in February 2021
JOPE
Jan 30, 11:38am
Such a drag on your monthly cashflow and on an item that goes down in value with literally every mile you drive.
TheLoneCougar
Jan 30, 11:34am
But if he could afford it, he made the smart decision. The $33,000 is worth way more than the $800 a month.
JOPE
Jan 30, 11:39am
Sure. I just can't stand the thought of forking out that much each month vs. investing it.
TheLoneCougar
Jan 30, 11:41am
simple question... what cars do you own now?
TheLost
Jan 30, 11:42am
2012 Honda Odyssey and a 2016 Lexus
TheLoneCougar
Jan 30, 11:56am
I did the same thing last year. Midlife crises car. And the monthly pmnt makes
DiamondMo
Jan 30, 11:50am
I’m the opposite for the same reasons, the thought of taking $50k cash out and putting toward a car makes me sick
JOPE
Jan 30, 12:11pm
When interest rates were 1-2% this was great, take out a loan use your own cash
kotacoug
Jan 30, 12:32pm
I don't pay for $50k cars so we aren't really in the same realm here.
TheLoneCougar
Jan 30, 1:00pm
Weirdly They’ve actually appreciated over the last year.
kotacoug
Jan 30, 11:51am
That isn't going to last and has already started to come down.
TheLoneCougar
Jan 30, 11:56am
True. But maybe not significantly.
kotacoug
Jan 30, 12:26pm
Just imagine the lifestyle you could live (for a few years) if you had no financial sense.
kccougar
Jan 30, 11:28am
Average new car is $48K. Payment with 20 percent down monthly $734
Ycrazy
Jan 30, 11:30am
doh!.. beat me by seconds
TheLost
Jan 30, 11:32am
Um, a $45,00 car with a $10k down payment @ 60mo is $724. When was the last time you bought a car?
TheLost
Jan 30, 11:31am
Used cars are not, no average, $45k.
TheLoneCougar
Jan 30, 11:35am
How about $35k with a smaller down payment? same $700mo payment..
TheLost
Jan 30, 11:39am
I still wouldn't be buying a used car for that amount, but admittedly my car buying methods are not for everyone.
TheLoneCougar
Jan 30, 11:42am
I have mentioned this before and really wish I could find it again - but a while
crack
Jan 30, 11:33am
Because I like my car and can afford it?
NumbersGuy
Jan 30, 11:34am
Brand new EVs ain't cheap. Especially the ones talked about on CB.
HuskerFan2
Jan 30, 11:34am
Both my friends had over 1000 and 700 respectively last year. Showed them
Adwight
Jan 30, 11:35am
My payments are well above that. We got 0% financing though so why not finance it all.
RdF3
Jan 30, 11:41am
Me too. 0% 60 months. 40 months left. But I keep my cars 20 years
Nat Gas Man
Jan 30, 11:44am
Because if you financed all at 0% then you overpaid on the purchase price.
kccougar
Jan 30, 11:55am
Not necessarily true.
Nat Gas Man
Jan 30, 12:00pm
My price was the same before we even talked any financing. It was straight MSRP pre ordered.
RdF3
Jan 30, 12:05pm
If you got % you could have got the purchase price lower but it only matters
kotacoug
Jan 30, 12:25pm
Yep if you go 0% you are paying for it in the purchase price. Smart buying
kotacoug
Jan 30, 12:21pm
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