> The average monthly payment for a used car is $500/mo, and $700/mo for a new car Average isn't a very interesting number here. I know a guy with a $15K/month

> The average monthly payment for a used car is $500/mo, and $700/mo for a new car Average isn't a very interesting number here. I know a guy with a $15K/month car payment, I'm sure people like him push the average up. If you're trying to save money, don't go for average. Buy a cheap used car, ideally in cash, and your operating costs will be minimal. The sky is the limit how much you can spend on a car if you wanted to splurge(waste), but you can also a fully functional car for very cheap if you care to save money.