4 ms·

Monthly car payments have crossed a record $700

6 points by nixass 4y ago

metadat 4y ago
How about a used car? I could have virtually any car I want, but both of mine I bought used and they are 2006 or older. No payments except the occasional mechanical issue, which is nothing compared to $700/mo. One can purchase a decent and safe used vehicle for less than one year of $700/month car payments. Paying $25k outright, or whatever per month for a new Kia POS is pretty dumb, hard to be sympathetic for these fools.
- dazc 4y ago
  An important lesson to learn in life is that most people couldn't care less what kind of car you drive and those who do are not worth worrying about.
- anm89 4y ago
  Have you shopped for a used car lately? I wanted a Toyota Tacoma, 4 year old used ones cost more than msrp, and the new ones are a year out. I do own my old Mazda cash so it doesn't matter much to me but it's not as simple as just buying used these days.
  - metadat 4y ago
    Just go a little further back and the prices settle down pretty quickly. When the news of "used cars so expensive" first began I went and checked CL my older vehicles and the prices have remained stable or even gone lower this entire pando.
  - Ologn 4y ago
    I have shopped for new and used cars lately and found the same thing. Used cars at or more than MSRP. A used car is almost us much as a new car so I got a new car.
- nicbou 4y ago
  My policy is to "spend it on the plot". A fancy car does not affect the plot. In fact it limits your options because you're now saddled to those monthly payments. I chuckle when I see people throw 6-9 months of post-tax income at an adventure motorcycle, only to ride it around town on the weekends. With that sort of money you could take a few months off and go on a proper adventure. I know someone who just threw a five digit amount at a newer camping van. Now she can't take time off because she's paying for it. That could have financed a nice road trip. And those are still arguably functional purchases. Throwing 700$/month at a regular car for regular driving is absurd.
imtringued 4y ago
It is good news that people can afford to pay off their cars within two years. I don't see the affordability crisis. There are plenty of cheap cars on the market and you should drive a car that is as small as possible to begin with.

6 points by nixass 4y ago

How about a used car? I could have virtually any car I want, but both of mine I bought used and they are 2006 or older. No payments except the occasional mechanical issue, which is nothing compared to $700/mo. One can purchase a decent and safe used vehicle for less than one year of $700/month car payments. Paying $25k outright, or whatever per month for a new Kia POS is pretty dumb, hard to be sympathetic for these fools.

dazc 4y ago
An important lesson to learn in life is that most people couldn't care less what kind of car you drive and those who do are not worth worrying about.
anm89 4y ago
Have you shopped for a used car lately? I wanted a Toyota Tacoma, 4 year old used ones cost more than msrp, and the new ones are a year out. I do own my old Mazda cash so it doesn't matter much to me but it's not as simple as just buying used these days.
- metadat 4y ago
  Just go a little further back and the prices settle down pretty quickly. When the news of "used cars so expensive" first began I went and checked CL my older vehicles and the prices have remained stable or even gone lower this entire pando.
- Ologn 4y ago
  I have shopped for new and used cars lately and found the same thing. Used cars at or more than MSRP. A used car is almost us much as a new car so I got a new car.
nicbou 4y ago
My policy is to "spend it on the plot". A fancy car does not affect the plot. In fact it limits your options because you're now saddled to those monthly payments. I chuckle when I see people throw 6-9 months of post-tax income at an adventure motorcycle, only to ride it around town on the weekends. With that sort of money you could take a few months off and go on a proper adventure. I know someone who just threw a five digit amount at a newer camping van. Now she can't take time off because she's paying for it. That could have financed a nice road trip. And those are still arguably functional purchases. Throwing 700$/month at a regular car for regular driving is absurd.

imtringued 4y ago

It is good news that people can afford to pay off their cars within two years. I don't see the affordability crisis. There are plenty of cheap cars on the market and you should drive a car that is as small as possible to begin with.