4 ms·

I highly doubt the average car payment is anywhere near $150 a month. That's really low for even a lease, let alone actually trying to own it outright. And you'

I highly doubt the average car payment is anywhere near $150 a month. That's really low for even a lease, let alone actually trying to own it outright. And you're completely forgetting maintenance and repairs (oil, tires, batteries, lights, environmental checks, repairs). Even a modest car is probably at least $500 a month with everything added together, and from what I've seen, a lot of people can't make do with a modest car. And then if you lose your job, you have no defined transportation expenses. Lose your job and you still owe all of that money for your car payment, insurance and whatever else. And again, many of us are married. Needing multiple cars, gas, parking for two people (or additional cars for kids stuck in the middle of nowhere) starts to ad up.

jinushaun 14y ago
$500/mo for a modest car? Wow, people on here have a warped sense of finances. $500/mo is a lot of car. My brand new car with all the bells and whistles is $380/mo and I'm very happy with it. Instead of a new car, I could've used my down payment to buy a used car instead.
- pwthornton 14y ago
  To clarify, I'm not saying $500 for just the car, but $500 for the car payment, gas, insurance and savings for future maintenance. I think $500, when you factor in all of that, is a fairly modest car. My wife and I have a Honda Fit that is paid off (I would call this a pretty modest car), and when a car reaches a certain point in its life, you may'll have more maintenance to pay for.