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I've always wondered this, too. The most expensive car I ever bought cost $14K. It was really nice while I had it, but the loan and insurance payments added up

I've always wondered this, too. The most expensive car I ever bought cost $14K. It was really nice while I had it, but the loan and insurance payments added up to more than $500/month. With a car old enough I can pay for it outright, insurance only costs about $90/month, and even budgeting for $1000-$2000 in repair work every year I'm coming out significantly ahead. Buying a new car seems like such an unreasonably expensive luxury that I am genuinely surprised there are enough people wealthy enough to keep the industry going.

anoncoward111 8y ago
Completely agree my friend! After taxes, insurance, principal balance on the car, and routine maintenance, my beater as described above is running me at $175 a month. I know so many people who have a car that's costing them over $600 a month all in. That really confuses me, because that's just about the price of a bedroom in our area. It is entirely feasible to live on $1000 to $1500 a month here as a single person and bank the difference in salary without feeling like you are truly being frugal!