4 ms·
I tell myself those people are in debt mostly for self preservation. My household income is great, but my wife drives a 2012 minivan and I drive a 2007 station
by giarc 4y ago
I tell myself those people are in debt mostly for self preservation. My household income is great, but my wife drives a 2012 minivan and I drive a 2007 station wagon. I could not imagine spending $1000 or more a month on a new vehicle.
- vorpalhex 4y agoPut aside money every month now as a "car payment" and buy your next car in cash. Save yourself the interest and still have a plan if a vehicle gets lost.
- linuxftw 4y agoFor many people, a nice vehicle is 'the thing' they've always wanted. Many people I know seem to spend as much as they can afford on a vehicle, it's part of the personality somehow. On the one hand, I can't really identify on spending so much money on something with so little utility. On the other hand, why are we making all this money if not to spend it on the things we desire? Before the world shut down, I was spending between $5-$10k per year on travel, but I have no vehicle payments and that represents (a good bit) less than 10% of my annual income. The problems really on start when you want to do both. If you need to have a new vehicle and travel, and whatever else, you're going to over extend.
- bombcar 4y agoA brand new Sienna will run you $600 a month or so on a good loan, with down-payment. And it'll get 32 MPG whilst doing it. It could be worth taking a look.
- sleepdreamy 4y agoI drive a 2019 CRV, 369 a month. It's really do-able if you have good credit and a downpayment. There is no need to spend 500+ on a vehicle a month. I could spend 1000/m on a car but that would be stupid for my salary range.