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> $835. > ... > It was less than some monthly car payments. I'm not sure what kind of car, but that's way above any car payment I've ever had to pay. ;)
by giancarlostoro 2y ago
> $835.
> ...
> It was less than some monthly car payments.
I'm not sure what kind of car, but that's way above any car payment I've ever had to pay. ;)
- criddell 2y agoAccording to this site [1], the average car payment is $724. [1]: https://www.lendingtree.com/auto/debt-statistics/#:~:text=The%20average%20car%20payment%20for%20a%20new%20vehicle%20is%20%24742,year%2Dover%2Dyear%20decrease. https://www.lendingtree.com/auto/debt-statistics/#:~:text=Th...
- giancarlostoro 2y agoInteresting, I think so far I've only had used cars, but even so my wife has a newer car than I do, bought it brand new, and she's paying below that threshold so it surprised me to hear that amount.
- m-hodges 2y agoI just popped over to Honda's website and clicked through on a new CR-V. I went with the EX trim which is the 2nd cheapest of six available trims. After clicking next on every screen without adding any upgrades, it offered me $33,745 MSRP with 36-month financing at 2.49% APR, which came to $1,035/month.
- giancarlostoro 2y agoFor 3 years? Yeah that makes sense, but if you do 40k (think SUV / upgraded mid-sized car) at 70 months, at 5% its in the 750 range a month, which is still not quite that high. I can't imagine most people do 3 year car loans.
- FireBeyond 2y agoYeah, I have to imagine that the convergence of: - people buying new - but looking for the cheapest trims - on an aggressively short loan is particularly large. Don't get me wrong, I'm not a fan of the 108 month or more loans starting to show up, but still.
- SSJPython 2y agoCar payments have skyrocketed since the pandemic due to the massive increase in prices and the increase in interest rates.