Monthly car payments hit record high of $712 in May
- Thread starter Bunchy Carter
- Start date
Now this is irresponsible lol
I always thought the headline articles were click bait where a couple who earned 300k were living paycheck to paycheck. I was wrong.
six figure house, six figure car, six figure student loan = most young adult Americans
Debt is crippling. I never want to go back there again and if I can empower my kids with wisdom to avoid it I can and do!
six figure house, six figure car, six figure student loan = most young adult Americans
Debt is crippling. I never want to go back there again and if I can empower my kids with wisdom to avoid it I can and do!
Tenchi Ryu
Ashtray B!tch
Through decent credit and the patrolman credit union through my job, I pay for my 2021 Toyota Camry SE 427 a month and that includes extended warranty and gap insurance
I get to be out here looking like a fast and furious extra and don’t gotta break the bank to do it
I get to be out here looking like a fast and furious extra and don’t gotta break the bank to do it
That goes without saying. But we weren't talking affordability. You just made a blanket statement about car notes.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?
"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?"
Remember that? Point out the part where you discussed AFFORDABILITY. Of course you shouldn't buy a car or ANYTHING for that matter, that you cannot afford. Duh.
Yea but it seems yall were not understanding that key part. Its a big reason why you shouldn’t be paying 500/month on a Honda
What’s a good payment for somebody who brings home $8000 a month after taxes?
Don’t have a payment. Stack some cash and buy a used car. Stack more cash.
Nah. I can’t cop a beater. it ain’t 1999
And I’m not giving up 25-30K of my savings just to have no car payment
Your name should be shadow brain
now you agree
A person's car note being a quarter of their income is not the same as the bullshyt you been talking in here.Your name should be shadow brain
Your name should be your living status.
Most young adults do not have a six figure car.
Chrishaune
Veteran
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.
Nah. I can’t cop a beater. it ain’t 1999
And I’m not giving up 25-30K of my savings just to have no car payment
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.
