Monthly car payments hit record high of $712 in May

[xiceman191]

Why are EV's harder on tires? I didn't know there was a big difference.

Evs are heavier vehicles and they have instant torque vs the slower acceleration of gas vehicles.

 

[gho3st]

LOL what S-Class you think you getting for $500 a month? That’s a $130,000 car. On a 60 month loan paying $500 that’s $30,000. Add on your $15K you saved up that’s $45K. Those ain’t S-Class numbers.

The point is: you should not buy a car you cant afford

if you gonna buy a 130K car you should be able to put 3/4 of that down. or buy a used one. If not then, you should be able to easily afford the 500-1K+ payments.

is that so hard to understand?

 

[gho3st]

No what? This doesn't explain a 50K car with $260 payments. If you know something, drop the knowledge.

Your mama is slow.

Either you was going over 400 a month to pay a 27K car in 2 years, or you put down enough money (over two-thirds of the tag) to finance the amount left over to get your desired monthly payment for less than 2 years.

You kinda slow breh. The point is, you should not buy a car or anything for that matter that you cannot afford. Im able to make these small payments bc i put a good amount down in addition to trading my car in.

theres no way im paying 500$ a month car payment.

 

[Sad Bunny]

WhT type of car yall be buying to pay 500+ a month in payments. Why buy a car if you gonna be paying that much per month?

500 is a lot to some but not much to others

A 30K car with no down payment will run you 500 a month though

 

[Sad Bunny]

No what? This doesn't explain a 50K car with $260 payments. You clearly have a unique expectation on what a reasonable car payment is within certain vehicle classes. If you know something, drop the knowledge.

Your mama is slow.

Either you was going over 400 a month to pay a 27K car in 2 years, or you put down enough money (over two-thirds of the tag) to finance the amount left over to get your desired monthly payment for less than 2 years.

You’re dumb.

 

[beenz]

Monthly payments don't matter, it's how much you financing total. Lower payments just mean you borrowed less or have longer term.

36 month loans @ 7%:
$35k - $0 down = $1,170/mo
$35k - $25k down = $398/mo

If you paying $300/mo for 48/60 months for an S class, means you put almost 90% of the car's price as a down payment or had a trade in of equivalent monetary value.


Loans have been cheap in the past couple years, no point in putting a big down payment down on a car if you getting 0-2%, you best invest that down payment and get higher returns (Treasury bills are paying 4%+ right now).


This statistic means nothing.

you're 100% correct, but the reality is most people aren't putting down 90% and the majority don't understand about loans and interest rates.

 

[Shadow King]

You kinda slow breh. The point is, you should not buy a car or anything for that matter that you cannot afford. Im able to make these small payments bc i put a good amount down in addition to trading my car in.

theres no way im paying 500$ a month car payment.

You also have a slow mama.

The bolded is what I asked for. Not apparently genius level remarks.

 

[Shadow King]

I'm a hoe ass niqqa who can't admit I'm talking out my ass

I know.

So we'll try again until you catch up with the rest of the class.

Either you was going over 400 a month to pay a 27K car in 2 years, or you put down enough money (over two-thirds of the tag) to finance the amount left over to get your desired monthly payment for less than 2 years.

Let me know when you figure out how to respond in sufficient English.

 

[Sad Bunny]

Monthly payments don't matter, it's how much you financing total. Lower payments just mean you borrowed less or have longer term.

36 month loans @ 7%:
$35k - $0 down = $1,170/mo
$35k - $25k down = $398/mo

If you paying $300/mo for 48/60 months for an S class, means you put almost 90% of the car's price as a down payment or had a trade in of equivalent monetary value.


Loans have been cheap in the past couple years, no point in putting a big down payment down on a car if you getting 0-2%, you best invest that down payment and get higher returns (Treasury bills are paying 4%+ right now).


This statistic means nothing.

Agreed. But let’s be real most people look at how much they can afford on a monthly basis.

So am I say I’m dumb for having a $500 car payment but I know I can pay my car off within one to two years or pastry cash if I needed to but if the interest rate is low enough I wouldn’t be dumb enough to get rid of my cash.

I’m disappointed I have to buy a new car but that’s why I’m waiting

 

[Cakebatter]

Why are EV's harder on tires? I didn't know there was a big difference.

I don't know exactly why, but it's a common complaint within EV ownership groups. It could be the extra weight, extra torque, or even the fact that EV's typically are equipped with Low Rolling Resistance tires that may be prone to premature wear.

 

[SPACE IS FAKE]

712 i wonder what cars they’re driving prob some base model FWD SUV lol

 

[Shadow King]

The point is: you should not buy a car you cant afford

if you gonna buy a 130K car you should be able to put 3/4 of that down. or buy a used one. If not then, you should be able to easily afford the 500-1K+ payments.

is that so hard to understand?

 

[gho3st]

Whats so hard to understand? gist of it is the same thing: you should buy a car you can afford or that doesnt put a strain on your finances….

 

[Shadow King]

Whats so hard to understand? gist of it is the same thing: you should buy a car you can afford or that doesnt put a strain on your finances….

Advise people to put down 98K on an S-Class, brehs

 

[gho3st]

Advise people to put down 98K on an S-Class, brehs

You got it bruh.


i see why they called you slow.