Reply to People who make under $300k hhi: do you really have over $1000+ per mo in car payments?

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Reply to "People who make under $300k hhi: do you really have over $1000+ per mo in car payments?"

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[quote=Anonymous]OMG no. We buy our cars for cash (used). I am not stupid.

However, we do know some people who live in much more rural, lower cost of living areas who likely do this or close to it. The thing is that when your housing is dirt cheap, and you spend all your time in your car (and may have a job or lifestyle that requires hauling a lot of stuff or people around) it's easier to justify.

DH has some high school friends who probably have an HHI of around 100-140k? Neither of them has a college education. Their house cost 50k at most (4 bedroom split level in the middle of nowhere). They have 3 cars (one for each parent plus another their kids share), all financed, and they trade their cars in every 5 years or so to get the newest everything. Their car payments could easily exceed $1000/mo. But their house payment is like $400. So there you go.

Our mortgage is $2700 per month, we still have some student loans we're paying off (another $400/mo), and we want to be able to send our kid to a private university. So we don't carry credit balances and we don't finance cars.

I'd still rather be us.[/quote]

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