My new car payment is $1,000

[Anonymous]

You bought a $60K car and complain of expense?! A RAV4 is less than $30K. A new CRV is $35 or so. A Forrester is $28K or so. If you can’t handle “fancy” car prices, you should have bought a reliable and perfectly good vehicle.

[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.

I’d rather put my extra money in the market or toward international travel. I guess we’ll pass each other on the Beltway and you can feel superior for 3.5 seconds, as I plan my upcoming visit to London and revel in the fact that I got in on opening day on Gitlab.

[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.

What exciting winner car are you driving? Probably one that identifies you as a jack ass to 90 percent of people.

[Anonymous]

I never understand people like op. I’m a nanny and if I can manage my life on my limited salary so should op. I bought a car cash with savings. Instead of making payments, once I bought the new car, I set aside $250/month for when I’d need my next car. I’m buying a new car this month (10 years later) with cash. I budget. I coupon. I save. I’m so frugal. I feel like the more money you have, the more wasteful you become.

[Anonymous]

Anonymous wrote:I never understand people like op. I’m a nanny and if I can manage my life on my limited salary so should op. I bought a car cash with savings. Instead of making payments, once I bought the new car, I set aside $250/month for when I’d need my next car. I’m buying a new car this month (10 years later) with cash. I budget. I coupon. I save. I’m so frugal. I feel like the more money you have, the more wasteful you become.

You are absolutely right, PP. I started at a modest salary and make exponentially more now, and I have to watch myself. Convenience and lack of discipline have me reaching for expensive grocery items and buying stuff I don’t need. Then I have a “touchstone” moment and I get back to my frugal roots. Good for you. You are a smart saver and a smart spender—that is laudable.

[Anonymous]

When will be a good time to buy? I’m trying to buy a 2 year old Prius and the prices are absurd. Why so expensive right now??

[Anonymous]

Op, Why do you need an SUV? I have a friend with three kids in a mini because that’s what she wants to drive. Yes three car seats in the back. I think you boxed yourself in with that choice. Unless you are a contractor or a commercial fisherman there’s no reason you need an suv.

[Anonymous]

Anonymous wrote:When will be a good time to buy? I’m trying to buy a 2 year old Prius and the prices are absurd. Why so expensive right now??

Labor shortages + supply chain issues have new car manufacturing delayed. People still need to buy cars, so the used car market is hot. It’s a terrible time to buy right now if you can avoid it at all.

[Anonymous]

Anonymous wrote:When will be a good time to buy? I’m trying to buy a 2 year old Prius and the prices are absurd. Why so expensive right now??

Predictions are end of 2022 or in 2023. What happened is there are various small component manufacturers (think like a company that makes the reverse backup sensor on a bumper) that went bankrupt during Covid because they were so small they had no financial cushion. But you can't just move production to a new supplier easily due to needing to make the "dies" (molds) used in manufacturing the part which are unique to each part and proprietary.

[Anonymous]

Anonymous wrote:You bought a $60K car and complain of expense?! A RAV4 is less than $30K. A new CRV is $35 or so. A Forrester is $28K or so. If you can’t handle “fancy” car prices, you should have bought a reliable and perfectly good vehicle.

I’m 6’4 I can’t fit in a RAV4 or CRV. That is the problem.

[Anonymous]

Anonymous wrote:Op, Why do you need an SUV? I have a friend with three kids in a mini because that’s what she wants to drive. Yes three car seats in the back. I think you boxed yourself in with that choice. Unless you are a contractor or a commercial fisherman there’s no reason you need an suv.

Minivan was another option for us, we liked the Toyota Sienna but the price was about the same came out to $55k. No real difference in price

[Anonymous]

Anonymous wrote:I never understand people like op. I’m a nanny and if I can manage my life on my limited salary so should op. I bought a car cash with savings. Instead of making payments, once I bought the new car, I set aside $250/month for when I’d need my next car. I’m buying a new car this month (10 years later) with cash. I budget. I coupon. I save. I’m so frugal. I feel like the more money you have, the more wasteful you become.

Trapping cash into a new car is a stupid idea. You can do more with money by investing it instead of tying it up in a depreciating asset. The saving $350 a month for 10 years just to a buy a new car only makes sense for someone like you in your financial condition. Doesnt make any sense for folks with higher incomes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I never understand people like op. I’m a nanny and if I can manage my life on my limited salary so should op. I bought a car cash with savings. Instead of making payments, once I bought the new car, I set aside $250/month for when I’d need my next car. I’m buying a new car this month (10 years later) with cash. I budget. I coupon. I save. I’m so frugal. I feel like the more money you have, the more wasteful you become.

Trapping cash into a new car is a stupid idea. You can do more with money by investing it instead of tying it up in a depreciating asset. The saving $350 a month for 10 years just to a buy a new car only makes sense for someone like you in your financial condition. Doesnt make any sense for folks with higher incomes.

As opposed to investing, which will always go up and never go down?

[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.

Like what? Don’t say CRV and Rav-4, I can’t fit into those. Highlander, sienna, Honda pilot, Ford Explorer, Ford Expedition, Lexus NX and RX are all roughly the same size and roughly the same price off the lot (not the fake internet price, actually off the lot price) give or take about $5,000

[Anonymous]

OP, if you invested half the money and bought something older and cheaper, you could buy your next car new with money earned the next 5 years.
Bitcoin was under $35k not long ago; Ethereum was under $2k. They both doubled in 2 months. Why not let your money grow before buying something so expensive.