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> reliable used vehicle for $5k just shows that you haven't done this in 15-20 years or so I purchased an '07 Prius for $5k just a few years ago. They go for ~
by reducesuffering 3y ago
> reliable used vehicle for $5k just shows that you haven't done this in 15-20 years or so
I purchased an '07 Prius for $5k just a few years ago. They go for ~$7k now. These cars are low registration cost, very low insurance cost, fuel efficient (45mpg), very low maintenance, and high longevity (I've personally witnessed them hit 550k miles).
That is the baseline in which, yes, an $800/mth payment is mostly financially excessive; a luxury. Especially at 6 - 15% car loan interest these days.