Monthly payments

[B-train]

How about living within one's means and NOT worrying about a payment? Set aside money based on what you can afford with your monthly budget. Collect that and see what you can afford given your circumstances.

If this won't work, and you can't live without payments, then I'd go for something you can put a majority down on, have a small payment, and then pay off ASAP.

Debt free is the way to be. Proud owner of a beater 2008 Denali, and a nice 2017 Denali for the wife. Sacrifices pay off.......FOMO sinks a person.

 

[Steebu]

Everyone's situation is a little different so I won't pass any judgment. For sure debt free is the way to be.

There are so many different ways to slice this. But at the end of the day, does anyone really want the pain of having a $1,200 monthly payment? That's a *lot* of money. We're already hearing that credit card debit just crossed 1 trillion dollars so I'm hoping folks aren't fomo'ing into a purchase.

 

[Doubeleive]

I don't know how long it takes to build one right now but I would do it before sept 14th
On Sept. 14 of this year, the wage contracts between the United Auto Workers and the Big Three auto manufacturers, Ford, GM, and Stellantis, expire.
they are reqesting a 40% wage increase, which means higher prices

MSN

 

[Mean_Green]

Critically important is the insurance premium. That can be half or more what the loan/lease payment is.

 

[Tonyv__]

Yeah I’ve done it but some dealerships I talked to it didn’t match up and everytime I say I did the calculations,they politely tell me it’s just a loan calculator online lol. I know they try to add on a percent for financing but leasing should be a straight number from the leasing company. But I asked for leasing and finance deals and seems like the few dealers I talked to for basically same pricing is different

If a loan calculator online can calculate my mortgage then it can calculate a car. They’re messing with the numbers or you’re not inputting all the numbers. A calculator is a calculator

 

[Banks22]

I don't know how long it takes to build one right now but I would do it before sept 14th
On Sept. 14 of this year, the wage contracts between the United Auto Workers and the Big Three auto manufacturers, Ford, GM, and Stellantis, expire.
they are reqesting a 40% wage increase, which means higher prices

MSN

Wow that’s an interesting article. Are we going to see another price hike and decreased inventory? Possibility…

 

[DuraYuk]

Critically important is the insurance premium. That can be half or more what the loan/lease payment is.

If you guys are paying that much in insurance something is critically wrong.

Having a car payment doesn't mean you are irresponsible. You have to make the debt work for you. If I can get a lower interest rate on the car payment compared to how much investment gains I can get by keeping my capital in my own investment accounts, then it would make more sense to keep my money.

Usually I'm netting about 10 to 20% a year on investments. If my interest on the loan is less than that it makes sense to keep my money and pay the car note.

Money is getting more expensive these days as base interest keeps rising so for some it makes sense to pay it off if they can't make more on their own capital..

 

[Doubeleive]

Wow that’s an interesting article. Are we going to see another price hike and decreased inventory? Possibility…

that's what I am wondering right now used car prices seem to be back to reality at least somewhat but if they strike that's not going to help at all

 

[the 18th letter]

Yeah I’ve done it but some dealerships I talked to it didn’t match up and everytime I say I did the calculations,they politely tell me it’s just a loan calculator online lol. I know they try to add on a percent for financing but leasing should be a straight number from the leasing company. But I asked for leasing and finance deals and seems like the few dealers I talked to for basically same pricing is different

As others have mentioned, the dealer fees are what make a difference in the figures. When I was shopping the variance was 3-6k between advertised and out the door prices. Then your rate vs their rate makes a difference.

 

[Sparksalot]

I don't know how long it takes to build one right now but I would do it before sept 14th
On Sept. 14 of this year, the wage contracts between the United Auto Workers and the Big Three auto manufacturers, Ford, GM, and Stellantis, expire.
they are reqesting a 40% wage increase, which means higher prices

MSN

They’re nuts thinking they’ll get 40%.