$1,300+ monthly payment????!!!!!!

[joekingcorvette]

The next big selling plan will be ZERO interest and only $1500.00 per month. Now that's a really good deal! LOL!

 

[billt460]

I know people making $50-60k a year with $1000/mo and higher auto loan payments. It's not at all a rare thing.

Neither is cancer and heart disease.

 

[Leo99]

Country folk buy vehicles for status/acceptance just like city folk.

Height and size convey status across most societies. Both physically and in terms of materials. It conveys a message to females that one has resources to raise offspring as well as having status within the community (aka tribe). Men are like peacocks. "Look at my feathers !!!"

On an aside, a friend of mine who used to work for the Federal Reserve conducted a study on auto loan delinquencies. The data showed that the auto loan was on par or in some cases a higher priority than a housing (rent/mortgage) payment. Banks wouldn't lend on the terms that they do if they didn't think people would pay that long.

I don't get out to the country that much and since it's sparsely populated, it's difficult to see any trends. But I do get to more densely populated areas and often see a very expensive car parked the driveway of a very modest house. That's no way to build wealth.

 

[miden851]

I have nothing against it, let them spend their $$$ however they choose. In the end, for me it is not a question of how much one makes, or can one afford it or not, I don't care, yet the lingering question remains, don't you have anything else going in your life to spend your money on!??

 

[Pablo]

Well nobody forces you to sign on the dotted line.....

That is what I used to say about people who got into "too much house" and I would be slapped down........trickster bankster loanster sharksters and all that.

I just paid ALL our cards down to zero.










Wait that's what I always do. It's for the points. And I feel good. because I'm the best. Debt sucks. Well except leveraged debt for REAL property.










Hahahaha..............................suckers.

 

[SwampSurvivor]

I was sitting at the bar at the local mexican place eating a quick lunch last Thursday. Someone tapped me on the shoulder, it was the real estate agent in town that I'd used to do a few transactions with over the last 3 years.

We got to talking, of course, about the current RE market, home prices, "how do people afford this ****", etc. He told me that it's fairly normal for prospective home buyers to lay out all their finances to him and many have $1200/mo vehicle payments. These are NOT 'wealthy' individuals. He said many of them exclaim "at least my payment isn't $1200 like so many I know" when they tell him their car payment is $1000.

The kicker? Yes, many of these +$1000 car payments are 72, 84 months. So if you're wondering how so many people are running around in a 2021, 2022, 2023 SUV that all sparkly white, top trim level and +$85,000 - this is how.

I won't even get into how those $85k SUVs won't be worth $50k at the 3 year mark.

That's nots! Our mortgage is $1000 and some change. And our only car payment is under $200 a month. Even at that , with my 401K maxed out right now, I still don't feel like comfortably taking on another payment.

Hrm. Even if it all "pops" and goes down the drain, who is going to snap up these 4x4 long wheelbase diesel duallys? Won't be me, way outside my needs. Something tells me that if things do go down the drain, the stripper RCSB that would do all I need would probably appreciate instead... Murphy's law and all.

A single cab / long bed 2WD will handle what I need. Just need to tow my Jeeps on the highway. Maybe some firewood? But if I'm dragging firewood trailers through the woods I have a capable Jeep for that.

 

[4WD]

One of our managers was transferred from overseas to domestic … He tried to find a DMax … no luck …
$93k for an F250/PSD … That’s how it is in a number of markets …

 

[Hillbilly Deluxe]

You're just not going to make the Dave Ramsey types happy, that's fer sure.

Ironically, I am a Dave Ramsey type, I just can't do the debt-free much. Life, paying for a kid's college out of pocket, etc. We do the best we can. We certainly don't finance lavish crap. We have 4 vehicles (daughter is driving one while in college), a boat (decent size boat...with a gas-guzzling 454), house bigger than we need, 10 acres of land, 1 for us and 9 for the coyotes, and we don't buy cheap junk.

Way off in the ditch - I find it funny that I can't sell my slightly used or new, unused high quality items I need to get rid of and I put great prices on it, yet subdivisions of women can sell clothes they no longer want (most likely due to out of style or they need to make room to load up again) in seconds on FB marketplace for 60% of new.....

 

[redhat]

I have driven beaters, I have driven luxury trucks, I have driven regular cars. IMO, anything over $600 a month is crazy. However, when you do the math, that is what the payment has to be for these $70, 80, 90k trucks.

My '21 F-150 was a lease and it was the highest payment I'd ever had at $560 a month. Which to me and my wife was high, but in today's market -- manageable.

New cars are fun, right? That excitement when you first take delivery. The first day of excited driving and playing with all of the features.

THEN-> the hunk of junk breaks. They all break. Nothing will p4ss you off more than a brand-new car breaking to the undriveable point while you're paying on the note. And to top it all off, when the dealer doesn't know how to fix it nor get any replacement parts.

It has been about a year since I lemon-lawed the F-150 and bought the 2005 Tahoe. I could not be happier. Granted, I did a lot of work on the truck and made it nice, made it my own, and it has a lot of the creature comforts that I love (heated seats, good stereo system, 4WD, leather, remote start), but it has been great. I know that I can confidently get parts from multiple sources for the 'old GMT platform.

I keep my truck clean, outside and in, and probably the most rewarding and satisfying thing to hear is when co-workers or friends ride with me, and they comment "This is a 2005?!?!". Shocked at almost 18 years and 300k while their 2-year old Jeep Grand Cherokee is hammered in comparison.

 

[wpod]

But then you could buy a gas XL for less. probably half.

 

[joekingcorvette]

I have a friend of mine that works for a large GM dealership and he said lots of customers come in and buy huge 4x4 trucks and have them loaded up with lift kits and another $10,000 worth of accessories and wheels, tires, light bars, fancy bumpers etc.

 

[Hillbilly Deluxe]

I have nothing against it, let them spend their $$$ however they choose. In the end, for me it is not a question of how much one makes, or can one afford it or not, I don't care, yet the lingering question remains, don't you have anything else going in your life to spend your money on!??

The issue is you WILL BE MADE TO CARE. You, me and the people that don't participate in this nonsense will get to help pay to clean it up. Just like we did in 2008, 09, 10, 11, 12, 13. Just like we did in 2001, 2002, 2003....


You might not realize it, but it is what will happen.

 

[wpod]

That is what I used to say about people who got into "too much house" and I would be slapped down........trickster bankster loanster sharksters and all that.

I just paid ALL our cards down to zero.










Wait that's what I always do. It's for the points. And I feel good. because I'm the best. Debt sucks. Well except leveraged debt for REAL property.










Hahahaha..............................suckers.

Still the debt stinks.

 

[Pablo]

Still the debt stinks.

Yes generally agree

 

[miden851]

since the dualers are the thing of the past, you got to to have one of these next time, in order for people to consider you successful at a next traffic red light

https://www.apocalypse6x6.com/

 

[ATex7239]

Ironically, I am a Dave Ramsey type, I just can't do the debt-free much. Life, paying for a kid's college out of pocket, etc. We do the best we can. We certainly don't finance lavish crap. We have 4 vehicles (daughter is driving one while in college), a boat (decent size boat...with a gas-guzzling 454), house bigger than we need, 10 acres of land, 1 for us and 9 for the coyotes, and we don't buy cheap junk.

Way off in the ditch - I find it funny that I can't sell my slightly used or new, unused high quality items I need to get rid of and I put great prices on it, yet subdivisions of women can sell clothes they no longer want (most likely due to out of style or they need to make room to load up again) in seconds on FB marketplace for 60% of new.....

Going full-on Dave is a bit much for me as well. I’ve read several of his books and I’ve taken a few nuggets from him. I think his program works very well for people who are in dire straits and I need to get on track. Or who just have little self control and need financial guidance. Somebody who is self disciplined and cautious doesn’t need to do his plan to the letter to be successful. He is a radio, personality, and a sales person for his own program and products so he should be taken with a grain of salt. I’ve listen to him on the radio from time to time, but get tired of him quickly. A little too sanctimonious for my liking. He likes to think his doo doo doesn’t stink.

 

[BMWTurboDzl]

Another friend of mine explained to me that a huge number of folks with small businesses took out PPP loans (that have to be paid back at 2%) and this is where a lot of the spending has come from the last 30 months. He said he knows one guy, mid-30's at best, took out $1.4M in PPP loans. It was NOT re-invested back in the business, but he and his wife (no kids) have been spending it on "stuff".


It kinda all makes sense now. All these $150k ski boats, $95k 3/4 ton trucks, 24' trailers with $30k UTVs on them, and all these people are wearing $6-800 in clothing each day....basically disposable clothing.



The chickens will come home to roost soon, the trouble is those of us that don't partake in this nonsense always get to pay for it.

PPP is one of the reasons behind inflationary price increases. Trillions just thrown to the public.

 

[Joel_MD]

The price of new diesel pickups is pretty outrageous to me. In early 2007 I bought a 2007 Ram 2500 diesel. Had to order it from the factory because I wanted a manual transmission and not a lot of expensive options. It was something like $38,000 plus tax. I had recently come back from a deployment to Diarrhea-stan and had saved all of my combat pay, so I was able to write a check for the whole amount. Can't imagine spending 2x or more just 16 years later for a vehicle with similar capabilities.

 

[slacktide_bitog]

My Jeep isn't a truck. It's a jeep!

That's because I missed the F250 in your sig when I posted that. Oops

 

[andyd]

When I traded car crawling on old BMWS for the reliability of a pair of transportation appliances, I instructed my wife to get 4cyl. Camrys. I figured gas was gonna get pricey. Had the pair of them 5 yrs. Between the pair, they've needed 1 set of tires, 2 batteries, oil and filters and a little brake maintenance. I'm hoping they'll outlast me.