Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
We have a $302 payment on one of our vehicles (our others we bought outright or have paid off previously) and we choked at it! lol We also bumped it up to $375 to pay it off faster
In a situation like this though, the person no doubt can afford a payment like that and money isn't a major issue. He would had to satisfy the dealership and the banks with his financial info in order to drive it off the lot. But no, this is not the norm for the average person.
I know someone who leases trucks for his construction company and some of them are $50-60K. They are tools for him and a tax write off.
My first new car was a 1974 Ford Pinto, bought when I was 18 years old payment was $84 a month if I'm not mistaken. Was brand spanking new right off the showroom floor no co signer needed. Had a job since age of 16 just retired after working close to 40 yrs, 30 yrs from the job I retired from.
I've done that for years.
Buy a second hand phone off ebay and put it on my carrier's month-to-month plan (like Straight Talk or Virgin Mobile, most regular carriers offer a monthly, too).
Saves a bucketload.
Payments are relative to income. If you make $150,000 a year, a $1,000 a month car payment isn't that big a deal.
Still think that is way too high of a payment given the income. Unless of course you are bringing in 150,000 and are single without kids. Once you get married and have kids, 150,000 doesn't go nearly as far.
Still think that is way too high of a payment given the income. Unless of course you are bringing in 150,000 and are single without kids. Once you get married and have kids, 150,000 doesn't go nearly as far.
Everyone has their own comfort level. But it's still a relative number. But if you're bringing in around $9,000 a month after taxes and you don't have a spare $1,000 to play with, you've done something seriously wrong somewhere.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
