Average Monthly Auto Loan Now $503 @ 68 months

[Standing on business]

So many fake ballers out there paying on a damn car for 7 years




New car, new reality: Auto loan borrowing hits fresh highs

 

[DallasTxRep]

Sounds about right....dumb asses

 

[mannyrs13]

7 years is 84 months, not 68.

 

[mannyrs13]

Mine is 475, but lower now since I'm paid ahead. Still pay as much as I can. Can't wait to get rid of it. Wouldn't be surprised if the prices get higher thru the summer. Are car sales even decent lately?

 

[marcuz]

goddamn

 

[Michael's Black Son]

So many fake ballers out there paying on a damn car for 7 years




New car, new reality: Auto loan borrowing hits fresh highs

LMFAO. that's a whole generation + mid cycle facelift/refresh for most car models. Cats taking 6-7 years to pay off a piece of shyt car with outdated tech that will always need some kinda investment to keep it running. Plus gas


Better off leasing

The car industry has damn near evolved (in some instances) like the tech industry and 5 years is an eternity.

 

[Heafcliffe]

No brag but, breh, I pay $480 for 2 cars. 2 months ahead on both dem bishes with 2 months set aside for each....if times get rough.

EDIT: Think I'm gonna use those 2 extra payments in the bank to be 4 months ahead tho.

 

[Truefan31]

Take that 400-500 car payment, put it in a Roth IRA, 25-30 years later you got easily over a million that's tax and penalty free.

Wanna look like a baller though

 

[heart]

So many fake ballers out there paying on a damn car for 7 years




New car, new reality: Auto loan borrowing hits fresh highs

Well a lot of those fake ballers are white people too. Tote the note car lots have taken over. My friend works at one and they have 2013-2015 chargers, challengers, bmw, benz, etc.. People come in and put down 2 or 3 grand and still get charged an outrageous APR with 5-700 monthly notes plus insurance. I think the reason why it's becoming so prevalent is those type of car lots prey on people with bad credit because so many car lots do in house financing, so there's no bank approval.

You pay it off, they get their money, car gets repo'd, they resell it and get more money.

 

[KingTut]

Lmao @ idiots out here making 50k a year buying 45k cars. So many dummies like that at my job and they wonder why they only have $34 left from their paycheck on the 1st.

 

[Standing on business]

Well a lot of those fake ballers are white people too. Tote the note car lots have taken over. My friend works at one and they have 2013-2015 chargers, challengers, bmw, benz, etc.. People come in and put down 2 or 3 grand and still get charged an outrageous APR with 5-700 monthly notes plus insurance. I think the reason why it's becoming so prevalent is those type of car lots prey on people with bad credit because so many car lots do in house financing, so there's no bank approval.

You pay it off, they get their money, car gets repo'd, they resell it and get more money.

Oh yea, I know a lot are white. White people stunt and spend their money just as bad as everyone else.

 

[Kiyoshi-Dono]

One more year(I pay $460) and I'm free

 

[GoFlipAPack]

I pay $303 per month.

 

[2stainz]

hustling backwards

 

[AlwaysLurkin]

I pay $266 plus $100 for insurance but its an 08