My new car payment is $1,000

[Anonymous]

Anonymous wrote:

Anonymous wrote:I haven’t had a car payment since 2009. Every car since then I’ve just paid cash+trade balance.

Car payments are for losers. If you have to finance a vehicle, you shouldn’t be buying that vehicle.

I’d rather pay 1% on my 90,000 and earn 10-20% in the market.

+1 pp obviously can’t do math. If you pay 90k in cash to purchase a car you are the bigger loser.

[Anonymous]

What did you buy?

I have a three row SUV and love it.

[Anonymous]

OP, it’s fine, I would have the same feeling if I bought a house. You did what was right for your family and hopefully you have enough in investments/cash/valuables to keep making these payments if all goes south.

[Anonymous]

Anonymous wrote:The MSRP for a new 2022 Toyota Highlander is 35k. I’m not sure how even off the lot you’d end up paying 60k unless you are choosing the highest trim level or something like that.

I know lots of people who buy the highest trim level in a car without even knowing why or even looking at lower trim levels.

[Anonymous]

We boat a CRV new in May 2021 with cash. They offered 0 percent financing for up to two years but we went ahead and wrote the check for the entire amount. We immediately regretted it because we could have simply but the money in an interest bearing account and done better. This week we bought a Pilot and even though we had cash we took them up on their offer of 1.9 percent financing for 4 years. Over the entire loan we'll pay less than $1350 in interest, or $28 a month. We just like having more cash flow.

[Anonymous]

I paid cash and only spent 40K

Let me guess you got a Kia with a MSRP markup?

[Anonymous]

Meant to add that we are thinking of putting the cash into I bonds for two years, which assuming inflation stays above 2 percent, would more than make up for financing the car purchase.

[Anonymous]

with 2 kids we had to for space issues

Idk, we had a camry-sized sedan for the entire time we raised our family. Op, your "need" is not a need.

[Anonymous]

In Fairfax county, any car above $50k is guaranteed a $1k/month payment (car payment (5 years loan) + car tax + car insurance).

[Anonymous]

Anonymous wrote:

Anonymous wrote:You bought new, which was stupid. The second you drove off the lot, guess what you have? A used car. I bought a CRV with 30,000 mikes on it. Special edition, perfect condition. Paid in cash. You bought new and expensive—what did you expect?

Good for you. CRV is a boring and loser car, but good for you.

CRV might be “boring,” but it doesn’t cost $1,000 per month. I’ll take boring every time.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is the OP. The used car market is trash right now and used cars and certified used cars are the same price as the new cars, so it didn’t make sense for us to buy used. We also had bought our old cars used and wanted a new car. I know it’s not an ideal time to buy, but with 2 kids we had to for space issues. And for those you asking why I’m shocked or if I can do math, Yes I can do math, and yes I knew the price would be $1,000, I guess what am I trying to say is it just sucks that it costs so much and I’m a bit nervous about since I’ve never owned a new car with payments before.

The problem here is you bought a $60k+ car. You can easily get a brand new family sized car for much less than that.

Geez, I hope you have college and your retirement fully funded.

[Anonymous]

You bought a $60k car?! Why??

[Anonymous]

Anonymous wrote:

Anonymous wrote:Honda Odysseys are MSRP at 35k, Honda Pilot 37k, Ford Explorer starts at around 33k. I don't understand how you ended up at 60k if you didn't want to be at 60k. This was a choice and you have that payment to show for it.

Right. Go out now and try to find that Odyssey at 35k. It’s not there.

You can easily find a new Odyssey for close to 40k. But if you want to put 0 down on a fully loaded luxury car, well, I guess you end up with a $1000/month car payment.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You bought new, which was stupid. The second you drove off the lot, guess what you have? A used car. I bought a CRV with 30,000 mikes on it. Special edition, perfect condition. Paid in cash. You bought new and expensive—what did you expect?

Good for you. CRV is a boring and loser car, but good for you.

Lol, to borrow your sad juvenile vernacular, you're the loser that thinks what car someone drives makes them a winner or loser. Why don't you go upgrade your car already so maybe someone will like you and think you're cool. Get the good trim so the Jones finally invite you to the neighborhood bbq.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What was the price of the new car? Did you trade in the 2 old cars? What was their value? If no trade in, how much $$ did you put down on the new vehicle?

Price was $60,000 no money down and no trade in

F me, what is your credit score to get that 1.9% APR?

I just bought a $28k SUV with $8k down. My credit score is 820 and the lowest APR I could get was 4.75% for 60 months.