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Started By
Message
The average monthly new car payment in 2022 is $644
Posted on 3/22/22 at 5:49 pm
Posted on 3/22/22 at 5:49 pm
quote:
Auto loan debt is the third-largest debt category behind mortgages and student loans. Overall, Americans owe $1.46 trillion in auto loan debt, accounting for 9.4% of American consumer debt.
quote:
Average car payments in the U.S. increased year over year by double-digit percentages. The jumps were 11.8% for new vehicles, 18.2% for used vehicles and 15.4% for leased vehicles, putting average monthly car payments at $644, $488 and $531, respectively.
quote:
The average auto loan term is 69.7 months for new cars, 67.4 months for used cars.
LINK
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Posted on 3/22/22 at 5:53 pm to weagle99
That's insane. Living a full on consumer debt life would not be pleasant.
Posted on 3/22/22 at 5:53 pm to weagle99
OT poors
Posted on 3/22/22 at 5:54 pm to weagle99
That's because people in the US are dumb as hell. You have dealerships like Toyota marking up new cars 10k yet idiots are still buying and asking no questions.
Posted on 3/22/22 at 5:55 pm to weagle99
Not shocking... Everyone loves their massive trucks and SUVs that cost 50k+
Posted on 3/22/22 at 5:56 pm to weagle99
quote:
Americans owe $1.46 trillion in auto loan debt
Posted on 3/22/22 at 5:57 pm to weagle99
Lol.
Wealthy people don’t finance much. Especially things that depreciate faster than Jamie Lynn Spears career after her SNL lip sync fiasco.
Wealthy people don’t finance much. Especially things that depreciate faster than Jamie Lynn Spears career after her SNL lip sync fiasco.
Posted on 3/22/22 at 5:58 pm to Snipe
quote:
Wealthy people don’t finance much
Depends on the interest rate
Posted on 3/22/22 at 5:59 pm to weagle99
Good. Hopefully they will all default on the loans they should not have been given in the first place and flood the market with cheap repos.
Posted on 3/22/22 at 6:01 pm to weagle99
Everyone is trying to keep up with the Joneses at the end of the block. The US is materialistic.
This post was edited on 3/22/22 at 7:15 pm
Posted on 3/22/22 at 6:02 pm to DeltaTigerDelta
quote:
Hopefully they will all default on the loans they should not have been given in the first place and flood the market with cheap repos.
Or have their debts paid off by taxpayers.
Posted on 3/22/22 at 6:03 pm to Snipe
quote:
Wealthy people don’t finance much. Especially things that depreciate faster than Jamie Lynn Spears career after her SNL lip sync fiasco.
That’s just not true at all. Most wealthy people will take on a reasonable degree of leverage. Especially in the current low interest, high inflation environment.
Posted on 3/22/22 at 6:04 pm to weagle99
Eh, no biggie. I bought my Tacoma in May 2020. It was $45052 out the door with $0 down and 0% interest for 60 months. The note is $750/mth.
I wouldn't want to be buying in this market though. It is crazy out there.
I wouldn't want to be buying in this market though. It is crazy out there.
Posted on 3/22/22 at 6:05 pm to Snipe
quote:
Wealthy people don’t finance much.
They finance the shite out of assets but not cars.
Posted on 3/22/22 at 6:07 pm to Snipe
quote:*sigh*
Wealthy people don’t finance much. Especially things that depreciate faster than Jamie Lynn Spears career after her SNL lip sync fiasco.
Posted on 3/22/22 at 6:10 pm to weagle99
If you can afford it, great. I bought a nice Wrangler and enjoy it, and it is not really a burden for me to pay the note.
It's the idiots that can't afford it, do it anyways, and then bitch that irritate me.
It's the idiots that can't afford it, do it anyways, and then bitch that irritate me.
Posted on 3/22/22 at 6:19 pm to weagle99
I'm about halfway into $605 for 48 months. It's no big deal. I had a decent down payment, don't have much other debt, and needed a maintenance free auto. I kept my last vehicle, a 2001 Ford, for 19 years.
I looked at the cost of new tires, rebuilding the front end, and a possible new transmission. Those costs were more than the truck was worth.
I looked at the cost of new tires, rebuilding the front end, and a possible new transmission. Those costs were more than the truck was worth.
Posted on 3/22/22 at 6:23 pm to weagle99
The American people deserve auto loan forgiveness now!
This post was edited on 3/22/22 at 6:24 pm
Posted on 3/22/22 at 6:24 pm to UltimaParadox
quote:
Not shocking... Everyone loves their massive trucks and SUVs that cost 50k+
I see so many people who make a lot less than I do carting around in these stupid things. People are dopes.
Posted on 3/22/22 at 6:25 pm to Shexter
quote:But, were they less than $29k?
looked at the cost of new tires, rebuilding the front end, and a possible new transmission. Those costs were more than the truck was worth.
Jokes aside.
Kudos to you for making it 20 years.
30k isn't that bad in comparison to what these morons pay. $80k for a half ton truck.
Bonkers.
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