Monthly car payments hit record high of $712 in May

[Blessings]

Our kids are not about to outrun inflation. People better get smarter and start living like our ancestors did. More people to a house, growing your own food, and doing what you can for yourself. The government is not about to save you when you get in a bad situation and really need help. People need to stop trying to compete with people that don't care about them.

r/Overemployed>>>>

 

[ryderldb]

Can you even get a car for less than $20k nowadays?

 

[Noriega]

Got.99% on my vw

Buy German instead of Japanese brehs

 

[Sad Bunny]

I mean, a used car doesn't mean a beater. You can find a model from this or last year with next to no mileage and buy that. And then you aren't paying for the depreciation that happens the moment you drive it off the lot brand new. At this point the only place you can dream of getting a decent return on the capital you would drop all at once for such a purchase is what... treasuries? Maybe 4.5% or something? Thats likely getting washed damn near by any rate you are getting on the financing.

I feel you on not wanting to drop a lot of money at once. But sometimes it can make some sense if we are in a situation like now where getting appreciation isn't versus the rising rates on financing at the moment.

I don’t buy a new cars I only buy certified PO.

 

[greenvale]

I don’t buy a new cars I only buy certified PO.

I just bought a new car a couple of days ago. Depends on brand of course but man during my search the price diff between new and 2-3 y/o CPO was like $3k so I just went new for all that

 

[42 Monks]

Can you even get a car for less than $20k nowadays?

 

[ConPHIdential]

Paying $680 a month for my 2019 S5. Don’t have any kids nor a significant other so I’m gonna treat myself and it’s well within my income. Down here in the South got folks playing well over that for Trucks and Scats.

 

[Yapdatfool]

Can you even get a car for less than $20k nowadays?

Sure you can... with 100000+ miles on that bish.

 

[beenz]

Can you even get a car for less than $20k nowadays?

In Jan 2017, I bought my current car for 22k. It's a 2015 Acura TLX base model with 15k mileage at the time

 

[IsThatBrothaMouzone?]

High end German car + High income Breh = lease that shyt if you wanna stay in fancy new rides

Reliable Japanese car + any income Breh = buy it and drive until the wheels fall off

 

[Controversy]

High end German car + High income Breh = lease that shyt if you wanna stay in fancy new rides

Reliable Japanese car + any income Breh = buy it and drive until the wheels fall off

Unfortunately, leases are OC too

 

[Kiyoshi-Dono]

Know a girl paying $719 a month for a rav4 with $1500+ in rent and I know she isn't making more than ~$3000 month after taxes

She definitely needs $40

 

[JetFueledThoughts]

You ain’t getting no car these days with a $350 payment

shyt I got my car in 2021 and I’m paying $172 a month. 2017 Lexus IS.

People that only put down like 5-10% of the total car price? Yeah you’re gonna pay a good note

 

[Alvin]

Highest i ever paid for a car was 291$. I just changed my car and my payments is 260. I plan to pay it off in 1 year

i don’t understand people paying 6-700 for a honda accord. For that type of money you should be driving a mercedes or audi lol

someone has been living under a rock.

 

[Alvin]

I hear ya, but times have changed. Car loans are well beyond 5% now.

should drop this year though