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re: I can’t help but think a lot of people driving newer cars with upside down loans

Posted on 5/8/24 at 7:06 pm to
Posted by Tarps99
Lafourche Parish
Member since Apr 2017
7690 posts
Posted on 5/8/24 at 7:06 pm to
quote:

2.99 for 36 months


You are financing something that is almost equal to what a home cost back in in the 1990's, and you want to pay that back in 3 years or less.

Your payments will be well north of 1,700 a month for 3 years on a 60k car. That is more than some mortgage and rent payments.

Unless you are making over 6-8k clear a month that is unsustainable, and hopefully your mortgage is around 2k a month.
Posted by Tmcgin
BATON ROUGE
Member since Jun 2010
5147 posts
Posted on 5/8/24 at 7:08 pm to
I laugh at the Range Rover gals
Horrible investment
Posted by Dawgfanman
Member since Jun 2015
22765 posts
Posted on 5/8/24 at 7:16 pm to
quote:

You are financing something that is almost equal to what a home cost back in in the 1990's, and you want to pay that back in 3 years or less. Your payments will be well north of 1,700 a month for 3 years on a 60k car. That is more than some mortgage and rent payments.


He was buying a RAV4, not a top of the line Grand Highlander.
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