Kia Forte 2023..0% APR paying 263 and month… 2nd hyundai tucson premium 0% APR paying 449$ per month
kinetic_honda on
Wth, doesn’t seem right
Edit: Ah yes, how could I forget about the pavement princesses
asdf_lord on
Car payments are the ultimate poverty trap.
alwaystiredtoo on
Nah
No-Sympathy-686 on
I buy my cars cash so I wouldn’t know.
bucknuts34 on
here’s the quote from the article
“Some customers go further. About 1 in 5 new auto loans have monthly payments of at least $1,000, S&P Global said, projecting that share could double by year’s end.”
Totallycomputername on
Fuck no. If your dead set on driving a loaded F150 or you love taking 2 year loans instead of 5 sure.
Jonesbro on
Just buy your car straight cash
jmskyline on
stupid
Life-Acanthisitta634 on
1k 2025 911 payment – acceptable.
1k 2025 Nissan Sentra payment – problem
waterpup99 on
Believe it or not Calls
SadZealot on
Not yet the average, but yes $1000 a month is becoming increasingly normal. The average car payment for a new car is $750 a month.
The article even mentions the ‘k shaped’ economy. The richest part of the population is becoming increasingly wealthy and can afford cars 100k+, the poorest part of the population can’t afford new cars at all. So it’s dragging the prices of cars up as the affluent buy new ones and hand them down.
estallard on
Such a waste of money. Don’t fall for the trap, buy a used Toyota Camry.
getinshape2022 on
Average new car price is 50K. 60 month car payment for a 50K MSRP car is around 1K a month when you include taxes etc. No surprise here
Concerned_Fanboy on
Morons love giant cars with useless features. Easy to sell em an SUV or Pick up truck north of 50k these days.
PhilShackleford on
They are if you are dumb.
IndependenceOne5310 on
In my opinion. Car payments are the biggest hindrance to middle class wealth. $1000 a month in a retirement fund over a working lifetime is a lot.
SpamHunter1 on
Or you can join the Kia Boyz and get free cars
thebatmanbeynd on
I won’t buy a new car unless I keep the monthly payments under 500 so essentially I just save as much as possible for a down payment to keep that but that strategy is getting harder given crazy high escalatory car prices.
Ardevas09 on
I pay close to 10k on my vehicles
WeakLocalization on
Used car market going to grow a lot in the coming years it seems
notabignaleabignale on
There will be an automotive loan reckoning at some point soon. I’ve got some Hail Mary Ally puts for exposure and after seeing them brag about their yields in their annual report, I think everyone should.
qwase123 on
I got a Mazda with 0% interest so I put nothing down because I like free money. Payments are ~$1500 for 36 months
JohnWCreasy1 on
the 84 month loans are even scarier.
DonTheHolder on
Yeah don’t buy one.
glocktimus_prime on
I worked for a major used car dealership that had multiple locations in most states, and in the few months that I worked there I saw multiple people with low 500 credit scores paying $600-$700 a month for a 7+ year old car with 100k+ miles
NotRobotNFL on
I have a 1k payment for a Kia telluride..paid like $54k at 4.6% interest
ajw827 on
That’s insane For a car? I guess if you attach your identity and self worth to a vehicle, you get what you deserve, but hopefully these types of payments will bring people to their senses. Had my car for 15 years, last 10 zero payments. It’s starting to give. I dread adding a car payment to my budget.
Pleasure_is_my_Sin on
Haven’t had a car note in 15 years. I’ll be driving my 17 year old Toyota until the wheels literally fall off.
unlock0 on
Terms longer than 60 months should be criminal. 72 months were for people in terrible financial shape when I sold cars 20 years ago. Now there are 96 month loans!
31 Comments
No
Kia Forte 2023..0% APR paying 263 and month… 2nd hyundai tucson premium 0% APR paying 449$ per month
Wth, doesn’t seem right
Edit: Ah yes, how could I forget about the pavement princesses
Car payments are the ultimate poverty trap.
Nah
I buy my cars cash so I wouldn’t know.
here’s the quote from the article
“Some customers go further. About 1 in 5 new auto loans have monthly payments of at least $1,000, S&P Global said, projecting that share could double by year’s end.”
Fuck no. If your dead set on driving a loaded F150 or you love taking 2 year loans instead of 5 sure.
Just buy your car straight cash
stupid
1k 2025 911 payment – acceptable.
1k 2025 Nissan Sentra payment – problem
Believe it or not Calls
Not yet the average, but yes $1000 a month is becoming increasingly normal. The average car payment for a new car is $750 a month.
The article even mentions the ‘k shaped’ economy. The richest part of the population is becoming increasingly wealthy and can afford cars 100k+, the poorest part of the population can’t afford new cars at all. So it’s dragging the prices of cars up as the affluent buy new ones and hand them down.
Such a waste of money. Don’t fall for the trap, buy a used Toyota Camry.
Average new car price is 50K. 60 month car payment for a 50K MSRP car is around 1K a month when you include taxes etc. No surprise here
Morons love giant cars with useless features. Easy to sell em an SUV or Pick up truck north of 50k these days.
They are if you are dumb.
In my opinion. Car payments are the biggest hindrance to middle class wealth. $1000 a month in a retirement fund over a working lifetime is a lot.
Or you can join the Kia Boyz and get free cars
I won’t buy a new car unless I keep the monthly payments under 500 so essentially I just save as much as possible for a down payment to keep that but that strategy is getting harder given crazy high escalatory car prices.
I pay close to 10k on my vehicles
Used car market going to grow a lot in the coming years it seems
There will be an automotive loan reckoning at some point soon. I’ve got some Hail Mary Ally puts for exposure and after seeing them brag about their yields in their annual report, I think everyone should.
I got a Mazda with 0% interest so I put nothing down because I like free money. Payments are ~$1500 for 36 months
the 84 month loans are even scarier.
Yeah don’t buy one.
I worked for a major used car dealership that had multiple locations in most states, and in the few months that I worked there I saw multiple people with low 500 credit scores paying $600-$700 a month for a 7+ year old car with 100k+ miles
I have a 1k payment for a Kia telluride..paid like $54k at 4.6% interest
That’s insane For a car? I guess if you attach your identity and self worth to a vehicle, you get what you deserve, but hopefully these types of payments will bring people to their senses. Had my car for 15 years, last 10 zero payments. It’s starting to give. I dread adding a car payment to my budget.
Haven’t had a car note in 15 years. I’ll be driving my 17 year old Toyota until the wheels literally fall off.
Terms longer than 60 months should be criminal. 72 months were for people in terrible financial shape when I sold cars 20 years ago. Now there are 96 month loans!