My new car payment is $1,000

[Anonymous]

Anonymous wrote:

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

The poster above you was saying her friend has three kids in a Mini Cooper. I drive an suv myself so in understand the draw, but it’s certainly not the case that you *need* a car that big, even with multiple kids.

[Anonymous]

Anonymous wrote:

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.

Thank you so much for the advice, I’ve been searching and will now stop and hope my car can make it a bit longer. When do you think things will improve?

[Anonymous]

Anonymous wrote:

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.

Ooops sorry I replied before I saw this. Really appreciate the advice and sorry to highjack the thread op

[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.

Good luck finding a rav4 now for less than $30K.

[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

It’s fine op. We haven’t had a sub $1000 car payment in almost 15 years. It is what it is. We usually pay them off early.

[Anonymous]

We paid cash for a 2017 mini van when our last baby arrived. It was $25k and had low mileage. It’s ugly (color is not something I’d choose) but I love not having a car payment. I have better uses for the money (extra cleaning help, furniture, home improvement, travel etc)

[Anonymous]

thank god we bought our highlander in 2019 - was 35k off the lot and we paid cash. are they going for 60k now?

[Anonymous]

op, you may want to see if in a year or two after the initial depreciation hit, you can sell the car and get out from under the enormous loan without having to pay money. Then buy something less expensive and keep it for 10+ years.

[Anonymous]

If you live in va, I hope you realize the taxes will be $2k a year.

[Anonymous]

All these people saying they got a great deal on a car haven’t looked in the last six months. It’s completely different out there.
Enjoy the car, OP. If you enjoy driving it that’s all that matters.

[Anonymous]

Anonymous wrote:thank god we bought our highlander in 2019 - was 35k off the lot and we paid cash. are they going for 60k now?

A new Highlander is literally $56 off the lot. And that’s only if you can find a dealership that has one, and you get what you get, no choosing your colors or interior options etc. if they have one on the lot that’s what u get

[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

It’s fine op. We haven’t had a sub $1000 car payment in almost 15 years. It is what it is. We usually pay them off early.

Thank you! I appreciate the honesty

[Anonymous]

Anonymous wrote:All these people saying they got a great deal on a car haven’t looked in the last six months. It’s completely different out there.
Enjoy the car, OP. If you enjoy driving it that’s all that matters.

Thank you!! Yes, it’s really different out there these days.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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

The poster above you was saying her friend has three kids in a Mini Cooper. I drive an suv myself so in understand the draw, but it’s certainly not the case that you *need* a car that big, even with multiple kids.

I don’t know how it would be possible to have 3 car seats in a Mini Cooper. We had 2 rear facing car seats in a Corolla and it was miserable

[Anonymous]

That sounds nasty. I could afford this, but would not do this to myself. Did you get a loan? Did you not do financing up front? And, you have to consider (I hope) the cost of increase in insurance cost on top of this.

I talked to credit union; said what I wanted my note to be; applied for a loan there and got it approved; then put down $20,000 and my loan rate is 1.99 percent and less than $650 a month for 3 years for a 2021 MB.