3 ms·
Can you post a reference to that $500 number? I find that hard to believe. I was leasing a luxury car for around $400/mo a few years ago. What kinds of cars are
by tsnont34nt 8y ago
Can you post a reference to that $500 number? I find that hard to believe. I was leasing a luxury car for around $400/mo a few years ago. What kinds of cars are average Americans leasing? Rolls Royces?
- gimmeDatCheddar 8y agoQuick google search: https://www.usatoday.com/story/money/personalfinance/2016/06/18/pete-planner-503-avg-car-payment-too-rich-most-us/85493088/ https://www.usatoday.com/story/money/personalfinance/2016/06...
- sjg007 8y ago$500 a month is basically a 4 year loan on a $20k car. That's a lot in a real sense but not a lot today in terms of a car. The only good thing is that cars post 2002 seem to be more way more reliable on average, however, finding low mileage cars is difficult. Suburbans/minivans and other family transport vehicles tend to hold their value fairly well (except maybe Dodge minivans)...
- syshum 8y ago> The only good thing is that cars post 2002 seem to be more way more reliable on average The manufacturers needed to make them last more than 100K because most of the manufacturers are closely if not directly tied to the financing, and if they wanted to make loans at high interest and 96mos they needed a car that would last at least long enough to cover the majority of new 65+ mo loans people are getting.
- wutbrodo 8y agoThe figure is for purchase, not lease. You can get more car for your lease dollar because at the end of the lease, you have no asset that you own.