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Started By
Message
re: Car Payments Now Average More Than $750 a Month. Enter the 100-Month Car Loan.
Posted on 12/23/25 at 9:29 am to ragincajun03
Posted on 12/23/25 at 9:29 am to ragincajun03
quote:
Got a 2018 F150 STX I bought in 2019 from CarMax for about $27k. It had about 25k miles on it at the time. It now has a little over $140k, and knock on wood, it’s been a good vehicle.
I drive a 2017 XLT that I bought used in 2017, but it only had 8k on it. I worked from home for years during Covid and now have a 5-mile commute to work. It still only has 73k on it. I hope to get another 5-7 years out of it.
This post was edited on 12/23/25 at 9:30 am
0
Posted on 12/23/25 at 9:33 am to kywildcatfanone
quote:fixed it
Consumers are broke
Posted on 12/23/25 at 9:35 am to ragincajun03
When the 100 mo. loan term is up, the vehicle is half way to antique/vintage car status in LA.
Posted on 12/23/25 at 9:44 am to Cosmo
quote:
If they are offering 2.9 or less financing that is a terrible decision
Could make more investing the money rather than dumping it in a car
For some who are disciplined, you are correct. Many Americans continue the trend of CC debt, which further exacerbates their debt issue.
Posted on 12/23/25 at 9:45 am to Bmath
Subtle brag bro
Posted on 12/23/25 at 9:46 am to Byron Bojangles III
quote:No, you didn't fix it. He's correct, consumers are stupid. Really stupid. That's a huge reason they are "broke." Thay can't/won't live at or below theor means.
quote:
Consumers are broke
fixed it
Posted on 12/23/25 at 9:46 am to ragincajun03
quote:
Some industry executives have justified longer loan terms because vehicles tend to stay on the road longer
Posted on 12/23/25 at 9:50 am to Cosmo
quote:
If they are offering 2.9 or less financing that is a terrible decision
Last two cars I’ve purchased within the last two years, was .9% and 1.9%
Had to do 3 year loans but it is what it is.
This post was edited on 12/23/25 at 9:52 am
Posted on 12/23/25 at 9:51 am to Fat and Happy
quote:
People will still run out and pay $1000/month just to have a “look at me” vehicle.
This describes where I live, Miami, to a T
I drive a 2017 Mazda CX 5 which isn't a bad vehicle but it has to be one of the worst vehicles in the parking garage where I work. Everyone else has BMWs, Mercedes, Audis, etc. and there is no way they can afford them
You have so many spending their entire paychecks on a lease for an Aston Martin and are living in a shed in the backyard of their Abuela's house
It's all about appearances
Posted on 12/23/25 at 9:54 am to Cosmo
quote:
If they are offering 2.9 or less financing that is a terrible decision
Could make more investing the money rather than dumping it in a car
I'm not sure terrible is the word I'd use.
Posted on 12/23/25 at 10:04 am to CAD703X
quote:
you really pulled one over on that dealer!
I mean, in his defense, if you're going to get a new vehicle, 0% is pretty solid. 60mo/0% is certainly better than the 84mo/7% people are getting locked into.
Posted on 12/23/25 at 10:30 am to whoa
quote:Its impossible to believe because with insurance and everything having your note that low isn’t realistic
know it’s hard to believe that some people are just fine living modestly in what they can comfortably afford. Also, saved up for about 5 years for a down payment. Not everyone is neck high in debt.
Posted on 12/23/25 at 10:46 am to ragincajun03
The prices of housing, medical care and automobiles have skyrocketed the last few years. We had a thread a couple of months ago saying things have been worse for the 2000-2025 era than the 1975-2000 era. No way. Stats(inflation adjusted) in these 3 areas disprove that. These are most people’s biggest expenses.
Posted on 12/23/25 at 10:48 am to ragincajun03
Orrrrr just stick it to the man and buy something within your means instead of signing up for debt slavery to keep up with the neighbors. Could I afford a brand new F250? Yes. Do I need the brand new F250 right now? No, as I live in a semi 90% of the year and only go do grocery runs and doc appts when I'm home. I took the Kia Forte GT for a $170/month 4 year note which I will happily pay off 1.5 years early.
All of that extra cash is being routed into my savings where I will be able to retire in a decade instead of having to work until I die because I didn't save.
All of that extra cash is being routed into my savings where I will be able to retire in a decade instead of having to work until I die because I didn't save.
Posted on 12/23/25 at 10:49 am to iwyLSUiwy
quote:
60mo/0% is certainly better than the 84mo/7% people are getting locked into.
I’d do 60 months for 0% no problem. Just pay it off early.
Posted on 12/23/25 at 10:51 am to bbap
quote:
I'm not sure terrible is the word I'd use.
Why? Just a money market fund is still around 4%
And could do better than that with other conservative investments
Posted on 12/23/25 at 10:52 am to Sofaking2
quote:
I’d do 60 months for 0% no problem. Just pay it off early.
Why would you pay it off early if the money is actually free with no hidden finance charges or something?
Posted on 12/23/25 at 10:58 am to Cosmo
It depends of how much I put down on the vehicle. I don’t ever want to owe more than the vehicle is worth. I don’t ever pay gap insurance because I never let that happen. I’m never upside down on vehicles. Some vehicles depreciate much more rapidly than others. You have to watch that with longer term loans.
This post was edited on 12/23/25 at 11:02 am
Posted on 12/23/25 at 11:01 am to Sofaking2
I get what all of you are saying about the high car payments. I get it.
But, there are some people that want a fancy, high end car as a sought of hobby. I have a neighbor that lives several houses from me. He gets a high end expensive new car every two years. He told me that he has two year leases on them. He said that he has friends that are into fishing that have +$50K boats and they spend thousands every year fishing and maintaining the boat.
He said he considers having a high end luxury car as his hobby. He leases, doesn’t have to worry about maintenance, keeps them clean, and turns them in at lease end and picks out another car. He just got a maxed out Ford Expedition and he is planning to use it in the Spring, driving to visit the Dakotas, Wyoming, and Montana.
I’m not saying it makes financial sense for him to lease instead of buying, but he chooses to lease.
But, there are some people that want a fancy, high end car as a sought of hobby. I have a neighbor that lives several houses from me. He gets a high end expensive new car every two years. He told me that he has two year leases on them. He said that he has friends that are into fishing that have +$50K boats and they spend thousands every year fishing and maintaining the boat.
He said he considers having a high end luxury car as his hobby. He leases, doesn’t have to worry about maintenance, keeps them clean, and turns them in at lease end and picks out another car. He just got a maxed out Ford Expedition and he is planning to use it in the Spring, driving to visit the Dakotas, Wyoming, and Montana.
I’m not saying it makes financial sense for him to lease instead of buying, but he chooses to lease.
Posted on 12/23/25 at 11:50 am to ragincajun03
Anyone who decides on things to buy based upon what the monthly is will never be financially well off.
No issue with paying for things on a monthly basis, but to base your decision on what it is and not the total price is not good.
No issue with paying for things on a monthly basis, but to base your decision on what it is and not the total price is not good.
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