My new car payment is $1,000

[Anonymous]

Anonymous wrote: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.

Not bragging, but a car purchase should be rationally made, not emotionally made. You can be emotional and excited and rational at the same time

[Anonymous]

Anonymous wrote:

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

I just priced a limited highlander, and msrp is $48k including delivery.

[Anonymous]

I would have paid cash, which is what we did. We saved from not buying cars for 15 years.

[Anonymous]

Anonymous wrote:

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.

My 6'4" friend drove an old mini cooper. Not the new, large ones. The ancient, minuscule, variety.

Where there's a will, there's a way, OP!

[Anonymous]

Anonymous wrote:

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

Must have been miserable for other reasons, because I've done this in my Corolla no problem. However three car seats in a Mini? Must be the larger Mini, then.

[Anonymous]

Anonymous wrote:We just bought a new at, suv this time since we have kids and need extra space. We previously had 2 paid off older cars (2008 and 2013). Our car payment for the new car is $1,000 a month for 5 yrs. and although we got a 1.9% rate it still shocks me and weighs heaving knowing we have to pay that much every month. Do others feel the same? What did you do about? Did you pay it off sooner? Does it even make sense to pay it sooner with such a low interest rate?

We just did something similar. We bought a $70K SUV and were prepared to write a check for that amount. But we 0.99% interest rate over 5 years. We decided we could invest the money we would have used to buy the car and hopefully make more to cover the interest payment. But, I totally get it. Its a lot of money.

[Anonymous]

I don't know how people do this. My kid dinged her skateboard on my car recently. I have zero desire to have a $60-70k car around town.

[Anonymous]

Nah, we had two car payments for that amount. What’s the issue?

[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?

you wish....

[Anonymous]

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.

[Anonymous]

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.

+1 there are plenty of ways to have a car big enough for a family and not have a $1,000 monthly note. Buy a cheaper SUV, buy a smaller car, buy something used, put money down. OP intentionally rejected all of those options so I don't understand why she wants us to commiserate.

[Anonymous]

We haven't had a car payment for years, because I (i) keep cars forever, and (ii) make a car payment to myself every month - just move the payment into a separate account. Car maintenance costs come out of there, and new car costs as well.

[Anonymous]

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.

[Anonymous]

I bought a $55k car, traded my old one (-$15k), and had a down payment (-$10k). I financed about $30k for 5 years and had a $662/mo payment. 8 months later, I got my annual bonus and paid the entire loan off. I think in total, I paid less than $1000 in interest. I couldn’t imagine being saddled with a $1000 monthly payment for 5 years.

[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.

Found a few 2021 with less than 5000 miles. Also, pilots are readily available. If a new car is needed and not for 60k, it can be done. Stop whining