My new car payment is $1,000

[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

LOL. Tiny little violins for you.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Is $1k per month bad? seems like a normal car payment for a decent car. My last car was 1.3k per month.

Slow clap

Well they are a slow person.

[Anonymous]

I know this isn't for everyone, but I laugh when I hear about how much people pay for a damn piece of metal that gets them from here to there. My oldest child is in her late 20s and I've never spent more than $15,000 on a car....I've always bought a 2 year old mini van that looks and feels brand new and lasts me about 8 years. It has tons of space, lots of head room (which I like), trunk space, and every other practicality but it's not cool. People over the years have made fun of me but I don't care. I think of the approx. $100,000 I've saved over the past 20 something years and happily take my mini van wherever I need to go. My latest car had $30,000 miles on it and was 2 1/2 years old when I got it. Our family of 6, with now 2 teenage boys that are over 6 feet tall all fit in it, and I don't care what it looks like.

I'm only on my 4th minivan btw. My youngest is 13 and I will have this car for the foreseeable future. I love it when I sit down to pay bills and DO NOT have a car payment. It's all about what people value.

[Anonymous]

If you only have 2 kids, you don't need anything larger than a sedan. A thousand dollar a month payment for a car is stupid. But now you have this car and you're stuck with it. If you are rich enough to spend that much money on a car, you are rich enough to pay an extra $300-500 more a month. Once you get it paid off, start a savings account for your next car. And next time, buy a little Toyota. You don't need a mini van, an SUV or a truck with only two kids.

[Anonymous]

Anonymous wrote:Is $1k per month bad? seems like a normal car payment for a decent car. My last car was 1.3k per month.

Our car payment was $359 a month. We paid $700 a month on it. Our mortgage and property taxes are less than what you paid a month for your car (Chicago, not Arkansas)

[Anonymous]

We have a 13 year old Toyota Corolla and priced out a new vehicle. After seeing the monthly payment we decided to hope the car will last another few years. It’s tight with two teens, but works well enough.

[Anonymous]

You can get a 2014 or 15 Honda odyssey for less than $20k. That car would last another 10 years if you’re lucky.

[Anonymous]

I have many friends who have 3 kids and drive a 2010 era sedan or old minivan. It’s all about your priorities.

[Anonymous]

Anonymous wrote:I know this isn't for everyone, but I laugh when I hear about how much people pay for a damn piece of metal that gets them from here to there. My oldest child is in her late 20s and I've never spent more than $15,000 on a car....I've always bought a 2 year old mini van that looks and feels brand new and lasts me about 8 years. It has tons of space, lots of head room (which I like), trunk space, and every other practicality but it's not cool. People over the years have made fun of me but I don't care. I think of the approx. $100,000 I've saved over the past 20 something years and happily take my mini van wherever I need to go. My latest car had $30,000 miles on it and was 2 1/2 years old when I got it. Our family of 6, with now 2 teenage boys that are over 6 feet tall all fit in it, and I don't care what it looks like.

I'm only on my 4th minivan btw. My youngest is 13 and I will have this car for the foreseeable future. I love it when I sit down to pay bills and DO NOT have a car payment. It's all about what people value.

Look, I agree with you mostly; I don't spend a ton on cars and tend to keep them awhile. But you are not getting any used minivan for close to $15000 in this market unless it is 15 years old. I am looking at used minivans now and the used ones that are 2-3 years old can be more than the MSRP for new ones

[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

Whaaaa? What kind of mini van costs that much?

[Anonymous]

Anonymous wrote:

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

Whaaaa? What kind of mini van costs that much?

2023 Toyota Sienna Platinum. The fully loaded ones are like 65,000 with all the options.

[Anonymous]

Anonymous wrote:

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

Whaaaa? What kind of mini van costs that much?

Our local Toyota dealer has two sienna platinums, one is like 66k and one is like 62k.

[Anonymous]

You decided to finance all 60k which means you wanted to manage cash flow in exchange for paying a little more interest over the course of the 5 year loan.

If you wanted a smaller payment, put money down or buy a less expensive car. Not sure what the surprise is.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I know this isn't for everyone, but I laugh when I hear about how much people pay for a damn piece of metal that gets them from here to there. My oldest child is in her late 20s and I've never spent more than $15,000 on a car....I've always bought a 2 year old mini van that looks and feels brand new and lasts me about 8 years. It has tons of space, lots of head room (which I like), trunk space, and every other practicality but it's not cool. People over the years have made fun of me but I don't care. I think of the approx. $100,000 I've saved over the past 20 something years and happily take my mini van wherever I need to go. My latest car had $30,000 miles on it and was 2 1/2 years old when I got it. Our family of 6, with now 2 teenage boys that are over 6 feet tall all fit in it, and I don't care what it looks like.

I'm only on my 4th minivan btw. My youngest is 13 and I will have this car for the foreseeable future. I love it when I sit down to pay bills and DO NOT have a car payment. It's all about what people value.

Look, I agree with you mostly; I don't spend a ton on cars and tend to keep them awhile. But you are not getting any used minivan for close to $15000 in this market unless it is 15 years old. I am looking at used minivans now and the used ones that are 2-3 years old can be more than the MSRP for new ones

+1 I bought new for the first time in my life because it was cheaper than the 1-2 year old used cars.

[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

The math doesn't work out here.