Trying to justify what I may end up having to pay if I get a new truck.

ZERO DOLLARS!!! I just paid it off. But it was $549/mo

Just under $300 when I paid it off last year

Don't have one right now but it was around $350 (only financed for 20K).

Been paid off a while but it was $710 when I had one I think. $10k down on a Platinum F150. Can you get a rate that makes a car payment make sense these days?

C@LAg said:

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1939 said:

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Trying to justify what I may end up having to pay if I get a new truck.

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threve

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threvefiddie

Question is irrelevant because everyone's terms and down payment's are going to be different. My Accord payment is over $1,700/mo with 7K down because I wanted it paid off in 18 months.

My advice would be to figure out what you can easily afford over no more than a 48 month term and then buy accordingly.

Relevant because I just reserved a car last Saturday. Honda is saying that financing through them is going to have 6.9-7.9% interest (our credit score is 800+). That's a big nope for me.

OP is not Tommy Vaughn?

Tahoe is damn near paid off but $416/mo. Truck is $757. Both sub 3% loans

Good lord is that normal these days?

$0. No car payments in the last decade. I buy a couple years old (used), 15k to 30k miles. Then, pay cash.

Try to save up your money and pay in full.. it IS possible, and it is what puts you and keeps you on the path to freedom.

^^^^^^^^
Ditto what this says.

JCRiley09 said:

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Good lord is that normal these days?

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I'm completely ignorant. We bought a car last December and its interest rate was between 3-4%. But, I can't tolerate ~7%.

I sold stock yesterday to pay off both cars. It'll be nice to not have a car payment but I kind of wanted to hold onto the stock for longer. I just cant tolerate 7%.

I was lucky enough to be able to pay cash for both cars. 2010 Tacoma purchased in 2019 and 2017 Prius bought in 2021. Combined I paid not quite 30k.

$0.

I am not one of those who maintains debt as some badge of honor. Paid off cars, house, did not take any loan for the kid in college.

I recommend you pay it yourself and take out a loan only if you get a discount for doing so.

Loans are a pain in the ass unless you have to do it. I have my mortgage and that's it.

I think the payment on my Jeep was $1,200, but I paid it off in a few months. Only financed because I wanted the tax credit and needed to wait for my bonus payout to pay it off. My wife's RDX was $550, but we paid it off in 18 months. Would have been sooner, but we bought it in Feb 2020 and decided to hold as much cash as we could early in the pandemic.

Green2Maroon said:

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Loans are a pain in the ass unless you have to do it. I have my mortgage and that's it.

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Congratulations! Having just 1 allows you to focus on getting rid of it rather than many loans open. I hope you are trying to pay it off as soon as you can. I paid off my house in 2018 after 8 years and I love the feeling of mental freedom. Losing one's job is no longer as stressful once you are debt-free.

My friends discuss the latest mortgage rates or the agent to talk to and I just watch them.

$0

4 cars in the fam. 3 paid off within a couple of months. #4 was a new car for our college junior this summer, so I put her on the note/title and left enough to have a $200/month payment for 48 months to build her credit history. House paid off. So debt free other than this intentional credit builder.

I just bought an Audi A4 and payed half with trade in. Monthly payment is about 450.

2023 Mazda CX-5, half down, half financed at 0.9% for 36m. Only 33 payments of ~$500 to go!

The Life of Brian said:

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$0. No car payments in the last decade. I buy a couple years old (used), 15k to 30k miles. Then, pay cash.

Try to save up your money and pay in full.. it IS possible, and it is what puts you and keeps you on the path to freedom.

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Life punched us hard this year. We had to fix some some expensive stuff on our house earlier in that last year now both mine and my wife's vehicles decided to start giving up this summer. Both vehicles have no AC now and mine needs new camshaft and other parts. It runs, but the computer will sometimes shut it down. My wife's car also has no AC as of last month and the transmission is starting to go. Both are over 10 years old and are closing in on 175k miles.

Wife works from home and I'm driving her car cautiously to work and back, but we're gonna need 2 new vehicles by the end of the year. Wish I could drop only cash, but it's not to be. We'll be carrying some debt for the first time (outside of mortgage) in a long while.

The Life of Brian said:

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$0. No car payments in the last decade. I buy a couple years old (used), 15k to 30k miles. Then, pay cash.

Try to save up your money and pay in full.. it IS possible, and it is what puts you and keeps you on the path to freedom.

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Nah I could have paid cash but I'll take 1.95% on 72m every time on a used car

Caesar4 said:

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Relevant because I just reserved a car last Saturday. Honda is saying that financing through them is going to have 6.9-7.9% interest (our credit score is 800+). That's a big nope for me.

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I bought a car last year and it was around 6.5%. Credit score also well above 800. I paid it off in 3 months.

Last car payment was around $130/month and I think it was paid off around 2014.

Zero. Point. Zero.

I don't know that I will have another car payment any time soon. Keeping the old ones running is so much cheaper.

$2,000

Lmao.

Wrong thread

User name checks out

My un-asked-for opinion:

Only pay cash for vehicles.

If not, you aren't being honest with yourself on what you can afford.

haven't had a car payment in 3 years.

Going back to 1989, I've only ever owned four cars. Bought all of them new (my paternal grandparents bought the first one).

Bought a Honda Fit in 2008, finished paying it off in 2013, and drove it until 2021.

Now I'm paying $417.52 a month for a Hyundai Kona. Planning on driving it until they stop selling gasoline.

And rule #1 on my paternal grandparents. Two of the nicest people to have ever walked this earth.