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

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Jun 12, 2023
1:50:55pm

jrifkin48 Intervention Needed

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

Average rent - $1995
Average new car payment - $800
Average credit card payment - $430

BREAKING: Median asking rent for a US home rises 1.4% in May to $1,995/month.

Meanwhile, the average new car payment is now $800/month.

On top of this, the average American is paying $430/month in credit card debt.

This means the average person is now paying $3,225/month for…
— The Kobeissi Letter (@KobeissiLetter) June 12, 2023

https://twitter.com/KobeissiLetter/status/1668309684103655446

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jrifkin48

Bio page: jrifkin48
Joined: May 7, 2011
Last login: Jan 6, 2025
Total posts: 29,159 (1,371 FO)

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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

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

TADOW

6/12/23 3:03pm

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