Car payments

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So...once again shopping around for a toy.
Haven’t shopped for a vehicle in 7 years as I have an 11 year old corolla that was paid off years ago.

car prices are stupid, plain and simple.
Looking in the ballpark of something I want, I’m at $40k. The payment here is roughly $700 a month.
now, this is for a used Rubicon which is hardly a rare vehicle.

so, my question is, are people really making these kind of car payments (or more) routinely without a care because it’s “normal” and I’m just cheap or am I missing something.?

from what friends tell me, I’m just cheap...😁

with that kind of monthly cash burn I would rather just hire a driver...
 

richc

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$700/month is double the rent we paid for a very nice apartment in a 2 family in West Roxbury in 1980.

Three $700 monthly payments would have paid for my first brand new car, a Dodge Dart Sport, from the early 70's.

Times have changed...
 
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Don't bother looking at used Toyota trucks either.
True.
But it’s not just a Jeep question...40k is a relatively common automobile price...jeez, people dropping 50-60k on trucks has become the norm...just curious what people are car payments
 

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used crew cab 4x4 pickup. pleanty of decent deals out there for WAY under 40k. Get all the utility, cargo space and off road capability
 
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used crew cab 4x4 pickup. pleanty of decent deals out there for WAY under 40k. Get all the utility, cargo space and off road capability
Here’s the thing..I don’t need a vehicle. Looking more for a toy. If I “needed” a vehicle I’d probably get a newish 4Runner
 

EMTDAD

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looking at getting a new car next year so my 16yo new driver can take over my 2011 Sonata with 225K.

Trying to keep it in the $300/mo ballpark over 5 yrs doesn't get you much for a vehicle.. Puts me somewhere in that $15K-20K range which finds me a lot of compacts (Corollas, Fortes, etc) or smaller..
 

jd4444

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Most people buy what they want not what they can afford or even “better” lease what they want.

I am with you, I will keep a payment under $300. This means I am buying a car for 15k or less and putting a few thousand down.

700 is half of my mortgage with taxes and insurance included.

Stay cheap.
 

Woodsy

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So...once again shopping around for a toy.
Haven’t shopped for a vehicle in 7 years as I have an 11 year old corolla that was paid off years ago.

car prices are stupid, plain and simple.
Looking in the ballpark of something I want, I’m at $40k. The payment here is roughly $700 a month.
now, this is for a used Rubicon which is hardly a rare vehicle.

so, my question is, are people really making these kind of car payments (or more) routinely without a care because it’s “normal” and I’m just cheap or am I missing something.?

from what friends tell me, I’m just cheap...😁

with that kind of monthly cash burn I would rather just hire a driver...
I buy used and with cash only. Debt is a road to poverty. IMHO
 
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looking at getting a new car next year so my 16yo new driver can take over my 2011 Sonata with 225K.

Trying to keep it in the $300/mo ballpark over 5 yrs doesn't get you much for a vehicle.. Puts me somewhere in that $15K-20K range which finds me a lot of compacts (Corollas, Fortes, etc) or smaller..
I agree, 300 is kind of the range to not really think about it..500 and I certainly think about it but would only cross the line for something I really want...after that, it’s silly..
 
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Most people buy what they want not what they can afford or even “better” lease what they want.

I am with you, I will keep a payment under $300. This means I am buying a car for 15k or less and putting a few thousand down.

700 is half of my mortgage with taxes and insurance included.

Stay cheap.
Completely agree people buy what they want and let dealers stick them into cars they really can’t afford.
and this basically makes the market inflated for everyone else.
 

pastera

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$700 for a car payment - yeah, no...

I'm not happy with half that on a 3 year note for a new car but did go for it because gas for my old truck was more than the payment.

If you are asking here, you already know that you aren't happy with the amount - unless you need something today, keep looking.
 
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$700 for a car payment - yeah, no...

I'm not happy with half that on a 3 year note for a new car but did go for it because gas for my old truck was more than the payment.

If you are asking here, you already know that you aren't happy with the amount - unless you need something today, keep looking.
Very unhappy, just wanted to gage my level of cheapness...
 
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with that kind of monthly cash burn I would rather just hire a driver...
With how apprehensive you are about new car prices, I'm afraid of your reaction to what a personal driver costs per.month. Hint: it's more than $700/month.

Have you considered an 84 month loan? [laugh]
Chrysler and Ford are offering 84 months no interest. That is a good deal. If I financed cars I would not hesitate on that.
 
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With how apprehensive you are about new car prices, I'm afraid of your reaction to what a personal driver costs per.month. Hint: it's more than $700/month.



Chrysler and Ford are offering 84 months no interest. That is a good deal. If I financed cars I would not hesitate on that.
No way, I could find someone to drive me around in my corolla for less than 700 per month..
 

Broccoli Iglesias

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So...once again shopping around for a toy.
Haven’t shopped for a vehicle in 7 years as I have an 11 year old corolla that was paid off years ago.

car prices are stupid, plain and simple.
Looking in the ballpark of something I want, I’m at $40k. The payment here is roughly $700 a month.
now, this is for a used Rubicon which is hardly a rare vehicle.

so, my question is, are people really making these kind of car payments (or more) routinely without a care because it’s “normal” and I’m just cheap or am I missing something.?

from what friends tell me, I’m just cheap...😁

with that kind of monthly cash burn I would rather just hire a driver...
YES. Including a lot of people here.

Cars are a horrible investment. A depreciating asset. Those that don't understand will get mad at me for posting that.

There are 4 kinds of people:

1. Those that need the vehicle for work. No way around it.

2. Those that know its a stupid investment, but want what they want and don't give a sh*t. I respect that.

3. Those that buy for the sake of buying, are not sure if its what they want, most likely don't think of depreciation, but they will call me an a**hole for posting this.

4. Those that buy to "fit" with a group of people. The worse kind. Could be grouped together with #3. Many of these lease because they can't afford to "fit in".
 
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So...once again shopping around for a toy.
Haven’t shopped for a vehicle in 7 years as I have an 11 year old corolla that was paid off years ago.

car prices are stupid, plain and simple.
Looking in the ballpark of something I want, I’m at $40k. The payment here is roughly $700 a month.
now, this is for a used Rubicon which is hardly a rare vehicle.

so, my question is, are people really making these kind of car payments (or more) routinely without a care because it’s “normal” and I’m just cheap or am I missing something.?

from what friends tell me, I’m just cheap...😁

with that kind of monthly cash burn I would rather just hire a driver...
Yes, car prices are retarded. You have to spend like $30K nowadays for a decent new car.

Wranglers hold their value exceptionally well. Probably because they're only one of a few real truck based SUVs in existence and people are willing to pay for that rather than get a disposable unibody piece of shit.

My 2015 Rubicon 4 door "hard rock" 6spd manual gets offers on Carvana for $28K, and $26K on CarMax. 5 year old vehicle...only 47K miles, but yeah....used Jeeps will cost you.

I only know this bc I'm shopping it around to move into a F350 Platinum Tremor and I know Carvana and CarMax pay a lot more than dealers for trade in. Hoping to special order my truck in December, sell the Jeep the week before taking delivery and making a massive down payment on the Tremor. should be sitting pretty in a 80K truck for ~700 a month.
 

greencobra

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i couldn't fathom a $700 car nut. but if you can swing it, take the loan out on you 401k...repay yourself back, not a bank. at least the interest goes back to yourself.
 

Sparkey

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You could buy some pretty nice older jeeps restored for 10k-20k if you want a toy.
I know people who never pay off car loans just roll them into another loan 2-3 cars deep crazy!
 
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