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Reply to "What's your car payment?"
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[quote=Anonymous][quote=Anonymous]Bought a ~$30k subaru forester for 48 month, 0% financing. We pay about $600/mo and it will be paid off in about 6 months. [/quote] Unless you put $25k down on this vehicle, you are not going to pay it off in 6 months by paying $600 a month. OP, we typically buy used cars that we can pay cash for. But a few years ago, I bought a splurge vehicle. Our payments were $640 a month for 5 years and we might have put down around $10k, but I don't remember. Also, we bought a $20k vehicle earlier this year and pay $400 a month on it on a four year loan. Thing is, cars are expensive. At $600 a month, you're only getting like a $28k vehicle if it's a four year loan, a $36k vehicle on a 5 year loan and a $43k vehicle on a 6 year loan. [/quote]
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