Just for fun, how are you enjoying your car payment

[CourierDriver]

this may be true

$729

Average Monthly Car Payments As of 2023, the average monthly car payment for new vehicles is $729. This is a 24.4% increase from 2022, according to the second quarter Experian State of the Automotive Finance
So if you have 2 autos , that would be 1400 and some change...add a rent or house payment and you have a huge budget,,,,if you work at Dollar General or Wilma"s Diner its gotta be tough,,,this is why I drive a 10 year old F150 and I dont work nowdays...retired...I forgot to add child care and you most likely are spending all you make..............its ok to live at home,,where you grew up, makes sense to me...

 

[supton]

That is average, so therefore, some amount are below that. And may well fit into one’s budget.

 

[FowVay]

I'm a boomer. I haven't had a car payment since the Reagan era. It's just how I roll. Don't ask me about my white New Balance tennis shoes and white cotton socks though, they keep me hoping I hit the Bingo jackpot

 

[Chris142]

Ours are paid off. The fj was $300 a month

 

[demarpaint]

I'm a boomer. I haven't had a car payment since the Reagan era. It's just how I roll. Don't ask me about my white New Balance tennis shoes and white cotton socks though, they keep me hoping I hit the Bingo jackpot

I'm a boomer too. My mother taught me from an early age, if you can't afford it, you don't buy it. Maybe parents today should teach their kids that. Having said that, the last time I took a car loan the rate was 0%. Next time I take a car loan it will be 0% or I'll pay cash for the car.

 

[supton]

My mother taught me from an early age, if you can't afford it, you don't buy it.

Many would say, they can tote the note, therefore they can afford it.

 

[demarpaint]

Many would say, they can tote the note, therefore they can afford it.

If they're comfortable with the payments, fine. If not don't buy. Pretty simple imo.

 

[Eddie]

I don't believe in car payments. If you can't afford the vehicle don't buy it. JMO. Ed

 

[cptbarkey]

$828 two vehicles. I have had a car payment since 1997. These will probably be my last loans, but I have never had a problem with taking advantage of low interest loans.

 

[Slick3914]

Just fine since the loan is at 0% and I have 5% positive spread to risk free returns.

 

[bilibako2]

Not bad the 23 mazda cx-30 at 0.9% for 3 years.The 24 Corolla LE at 8.5% toyota financial services with 750 cash back and plan to pay it in full by 2024.Both had around 400/monthly.

 

[Number_35]

I've paid cash for our last number of vehicles, but then pay more for repairs than someone with a new vehicle under warranty. I still think I'm ahead, but it does add up.

In 2023:

AC repairs - $1000
New tires - $950
New headlight Assemblies: $200
Brakes all around: $325

That's about $2500 that could have been used toward payments on a new van.

 

[Pablo]

I'm a boomer. I haven't had a car payment since the Reagan era. It's just how I roll. Don't ask me about my white New Balance tennis shoes and white cotton socks though, they keep me hoping I hit the Bingo jackpot

GTFO!! No BOOMERS ALLOWED HERE. You created this whole mess, you are a nasty selfish person. Anyone over 62 needs terminated.

 

[FordSVTGuy]

I'm a boomer too. My mother taught me from an early age, if you can't afford it, you don't buy it. Maybe parents today should teach their kids that. Having said that, the last time I took a car loan the rate was 0%. Next time I take a car loan it will be 0% or I'll pay cash for the car.

I have Gen Z kids and they are surprisingly careful with money ( young adults now) There is hope for America yet…

 

[tbm5690]

I've paid cash for our last number of vehicles, but then pay more for repairs than someone with a new vehicle under warranty. I still think I'm ahead, but it does add up.

In 2023:

AC repairs - $1000
New tires - $950
New headlight Assemblies: $200
Brakes all around: $325

That's about $2500 that could have been used toward payments on a new van.

You are still way ahead...that would likely only get you about 5 months worth of payments.

 

[supton]

That's about $2500 that could have been used toward payments on a new van.

Not sure what a van goes for, but unless if your tradein was good value, that isn’t bad money.

New cars have nasty reg&ins.

 

[joekingcorvette]

Another boomer here too and I have not had any car payments since the 80's. I do not like any type of loan because there are so many hidden charges that most are unaware of.

 

[demarpaint]

I have Gen Z kids and they are surprisingly careful with money ( young adults now) There is hope for America yet…

If they're taught right when they're young they'll be fine.

 

[FordSVTGuy]

I just finished payments on my 2017 Explorer. 0.0% financing for 6 years. still relatively low miles and in great condition. I’ll be driving it for quite some time…

 

[Pablo]

I have Gen Y and Gen Z (barely- early) kids - NO car payments!