$800/mo for 5 yrs is just a $40K vehicle at current interest rates of 6.5-7%.

Jun 12, 2023
2:12:21pm

byujag All-American

it's super easy to get that high a number for a normal vehicle, not luxury brands, especially due to the great rapid increase in car prices over the past couple years.

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Originally posted on Jun 12, 2023 at 2:12:21pm

Message modified by byujag on Jun 12, 2023 at 2:13:18pm

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byujag

Bio page: byujag
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Messages

Author

Time

The average renter with a new car payment is paying $3,225 a month

jrifkin48

6/12/23 1:50pm

Holy schnikes. But does this really surprise anyone?

TNT

6/12/23 1:53pm

$800/month for a car? my last payment is this month and it’s only $341.

reagan21

6/12/23 1:54pm

You got a great deal, my first payment on my wife's car was over $90k

LargeTalons

6/12/23 1:55pm

Ferraris and Teslas aren't cheap

Huge Manatee

6/12/23 1:56pm

Or F150s to pull your camper twice a year for.

jrifkin48

6/12/23 2:04pm

$800/mo for 5 yrs is just a $40K vehicle at current interest rates of 6.5-7%.

byujag

6/12/23 2:12pm

<< Deleted >>

Buffalo

6/12/23 1:57pm

Everyone driving Mercedes?

SoValleyCOUG

6/12/23 1:57pm

I don't think we should assume the average renter also has a new car loan.

JuicyJam

6/12/23 1:57pm

They probably also are making payments on the latest new wizbang

VACOUGFAN

6/12/23 1:59pm

The average renter is about to have a $200-300 student loan resume in Sept also.

Thrill

6/12/23 2:18pm

Not to mention $200-300 of the CC debt per month is for coffee. 2 cups x $5 per cup x 30 days give or take

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