What is your monthly payment? Please read.

I paid around 37k Before tax and all of the other shit ,out the door it was around 40k for my brand new loaded sport.
Put down $13k
My payment is $380 a month for 5 years

 

education is full of judgment
be the best
learn

 

Series 7 is an 8 hour test in a room where you get a lunch break and bathroom breaks. Not looking forward to it.

MCM is "man crush monday" which has been popular on social media for a few years, it's where a girl **or guy** picks someone they have a crush on and posts some cool photo of them. So the picture is stating you like that dude because he's got you thinking he's got nice things, but really he's just balling on the banks money. In other words the people you think are loaded may be in the most debt.

Also sponsorship??

 

Got my double cab 2015 zero miles off road package for 33 after a 5k down payment, payments came out to 524 4.3 apr hope that helps lol

 

Old people required an agency to grant pseudo certification

 

Credit unions are awesome.

 

Yup they are.
I got 5 years at 1.9

 

Good points. My parents were always frugal especially with cars.

I don't love having a payment but $200 is not terrible, plus I bought what I could pay for first and foremost.

 

Yep. 1.3% for 4yrs. Rate sheet is 1.8%, take off a quarter point for equity and another quarter point for loan amount over a threshold level.

 

Well said. I'm better than I was in my 20's, still could do better. My 20's I spent mightily at the bars and on an old girlfriend.

I bring a box of cereal to work and eat that for breakfast and most lunches. My phone is free from my part time job.

I could probably cut back on going to concerts and buying CD's but that's really my only indulgences. I go to a bar one night a week to play my dart league matches and spend $5 or less. So $200 a month for 60 I'm okay with and the 0.9 rate helped.

 

I can think of one exception. An old friend of mine was way upside down in his car. He was a copier repairman and traveled about 100 miles a day so a reliable car is a must.

He bought a new Dodge Stratus 15 yrs ago that was a last yr model. My dad worked at the dealership and did help him all he could but 6 yrs was what he had to do for a payment. That said he got a car allowance every month so he worked it out that out of pocket it cost him $15 a month.

 

Seems to be some really high payments in this thread. My house payment is only $836/month.

 

Come live in NJ or CA. That would likely be your monthly property tax.

 

Truthfully though, on a small scale that could happen fast for an individual or family. One job lost, car being totalled, medical issue, whatever.

I don't quite have the savings I would like to have thus far in terms of liquidity, but other than a mortgage and one car payment I have almost zero debt..save the occasional credit card purchase if out of necessity that gets paid off that month.

 

My parents always did that, Mom got the newer vehicle and then Dad drove the older one till it croaked.

 

Or paying that extra on a mortgage. My situation.

 

I sold my STi and planned on paying off my '13 and buying another toy to play with since I owed basically nothing on the truck. Ended up totaling the truck before I made the final payment.

I bought a Vette while my '16 was on order. I decided to buy exactly the truck I wanted knowing I plan on keeping it for a minimum of 12-15 years. I ended up financing just over 11K for 63 @ 1.99. I could throw a bunch at it each month if I wanted to, but right now I'm working on building up a bunch of other nest eggs instead. The comfort is if I sold the Vette, the truck is paid off without any stress.

 

MA is expensive to live but yikes.

 

Wow. He logs 36k miles a year just for his job not including his leisure driving. I assume he probably logs 50k miles a year including his casual driving.

He wears out a vehicle after 4 years.
He gets a car allowance that almost fully subsidized his car payment so a 6 year loan isn't a problem at all.

I personally don't think there is anything wrong with 6 year loans if you are making extra principal payments every month and you were quoted the same APR if you took a shorter loan.

Also if you are keeping the vehicle until the wheels fall off it doesn't matter how long you are paying on it. Obviously the car is going to last far longer than 6 years if you only log 15-20k miles a year. If you buy a reliable vehicle like a Toyota or Honda you are going to get 200k miles out of a car with just routine maintenance such as oil changes and new tires every 40k miles which means if you are still making payments on the car outside of the warranty maintenance costs are not going to break you.

6-7 year loans are only bad if you trade the vehicle in after 2-3 years as yes you are going to be upside down on the vehicle but if you are going to keep the vehicle for 10+ years a 6 year loan is no issue. However, every effort should be made to pay it off earlier than 6 years by making extra principal payments to save on finance charges.

 

Fortunately he did little leisure driving. He ended up keeping the car for 7 yrs and had over 200K on it. Never needed a major repair that I know of and moreover he had fixed his credit too.

I never paid more than a grand for cars till my last 3..used to hit car auctions a lot.

1997 Olds bought in 2001 with 40k, paid outright $5k from a car accident.
2006 Chevy Colorado bought in 2007 new, traded on the Tacoma following the famous head issue.
2010 Tacoma bought Oct 2012.

I always said if I'm paying for 5 yrs keep it at least 10. The Chevy breaking at 70k scared me and I hated to move on from a paid off vehicle but I never felt right with it.