The Average New Car Payment Is Up to Nearly $750 a Month As of Q3 2025, New Data Shows.
Posted by Dazzling-Rooster2103@reddit | cars | View on Reddit | 163 comments
Huzani@reddit
Call me insensitive or whatever but at this point we have to ask ourselves is it really the manufacturers fault or is it the consumers? Because I feel like people complain about payments and car prices but still pay them, I’m all for anti price gouging but come on.
ahorrribledrummer@reddit
It's absolutely on the consumer as well.way too many people keeping up with the Joneses and overextending themselves on cars. You can go to any shitty run-down neighborhood rife with poverty and find new cars.
neonliberal@reddit
Newness and luxury are part of the cause, but I'd argue the main cause of car payment creep is size creep. Couples will have one kid and then rush to upsize their car. Sedans become crossovers, crossovers become bigger crossovers or SUVs. It's even worse when they already have two cars.
People often jump to defend these situations with "you can't put a child car seat in a small vehicle," "my kid has 3 extracurriculars and we need to fit all of their gear at once," "I need to win in a car crash," or just "I want it, it's my money."
Of course people can buy what they want. But each step up in size class adds thousands of dollars more to the purchase price compared to whatever the buyer was driving before. At some point people have to ask themselves whether they truly, sincerely need the extra space to get by, or if that money would make them happier spent on something else (or saved for a rainy day).
The line between "this is actually impossible to work with" and "it's a little annoying to live with my current size of car" can be blurry, but it's worth doing that careful introspection when thousands of dollars are on the line.
ChasedWarrior@reddit
In a way im guilty of this. Buying more car than I need. I'm a single person with no kids but I drive a mid sized car, a Ford Fusion. I drove smaller cars but they just felt too small. I found my car on sale, got a good deal with payments I can afford.
rmesgrve@reddit
I don't think anyone is calling a Ford Fusion a big car
ChasedWarrior@reddit
I didn't say it was a big car. I said it's a bigger car than what I need. Midsized vs compact.
rmesgrve@reddit
I guess it depends on what year we're talking about, the 2020 was a bit bigger than the previous years. Compared to the Lexus ES 350, it's still smaller though.
caterham09@reddit
I mean shit we've got so many young people in debt up to their eyes on vehicles because they are jaded about ever owning homes.
Last person I helped buy a car, the salesman was this 19 year old kid with what he told me was a $1200 car note on some Mercedes. Dude was working at a gypsy lot.
Dazzling-Rooster2103@reddit (OP)
So those Dealership tiktok videos are true?
The camera person goes around asking salesman what they drive, and what their payment is, and most say like $1.5k-$2k/month.
pleasedonotredeem@reddit
They do it for 3 reason IMO -
1) It may or may not be true, but it helps customers and the public normalize very high car payments.
2) If it IS true, these salesmen have come over the hottest streak of car sales profits in generations, and many of them have legitimately been making $10-20k/month or more with a high school education right out of the gate. You make that kind of money at a young age, you are around cars all day, of course you will have a huge payment.
3) In their world and in their social groups, it's all cars all the time, so what is normal to them is not normal society-wide. People in sales have always been like this, realtors who average $5k/month but lease a Range Rover for $2k/month... stock brokers making $10k/month but paying $6k/month to rent a penthouse... that's just sales.
trail-g62Bim@reddit
I would love to know how many people are like this. It might be higher than people think. And I get it...you start saving for a house but housing costs go up so fast, you can't keep up. You start doing the math and realize you'll never be able to afford one. Might as well splurge on a car then.
SNRatio@reddit
He wouldn't be talking about this unless it helped his close rate, and car salesmen do occasionally lie. The $1200/mo he says he is paying makes the ~$900/mo he is proposing to you seem more reasonable in comparison.
Nhojj_Whyte@reddit
This but we're also up to our eyes in college/university debt because that's what society told us to do to get paid well. Turns out very few people actually get paid well regardless of that degree. Now most of us (very fortunately not myself) are looking at student loan debt for 30+ years too
ahorrribledrummer@reddit
Yea people have come on the accord sub several times asking about the price they paid for their car after being absolutely bent over. Talking $45k for a used accord.
Larcya@reddit
Go to a trailer park and count the amount of new pickup trucks. Then consider that pickup truck us worth more than their home is.
Drum_Eatenton@reddit
My neighbor across the street’s house is falling apart around him and he bought a brand new Nissan Rogue Rock Creek about a month after I bought my Sorento. I live in a weird neighborhood outside of city limits where the houses are randomly nice or complete trash.
Odd_War_487@reddit
Is it really my fault as a consumer with a $750/month payment when I drive 50 miles one way to work every day? My car was ran into the ground, so the only logical move is to get a new one. Now, less than 6 months later, I have a credit card as transportation and +10k miles.
Home-Star-Walker@reddit
It is the consumers, IMO. The manufacturers are delivering what the consumer has shown/said they want. Unfortunately, the average consumer is apparently a financial moron.
TenguBlade@reddit
The average new car price was around $40k in 2019, and adjusted for inflation, that’s $51.5k today. Which means new car prices have barely outrun inflation, considering it was a hair under $52k for November 2025.
By contrast, the average new car loan payment was about $535/month in 2019, which comes out to only ~$689/month adjusted for inflation. The gap between the inflation-adjusted trend and actual figure is way bigger on the payment side than for MSRPs, which definitely suggests people are accepting shittier payment terms.
InvasionOfScipio@reddit
You’re comparing apples to oranges. You’re not accounting for the increased costs to borrow of rates more than quadrupling since 2019.
TenguBlade@reddit
I would’ve thought increased borrowing costs would be filed under the “accepting shittier payment terms” description.
If the cost of borrowing is higher, then a sensible buyer would go for something less expensive to keep payment terms affordable. Maybe some people are, but you’d expect average MSRPs to increase at below inflation if that were happening on a large scale.
InvasionOfScipio@reddit
Nope. The amount of 0% loans for 60-72 months was everywhere for new cars pre-2020. It’s stupid not to take these.
No one offers even below 4% for a 60 or 72 month now.
Corrode1024@reddit
Audi does. 1.99 and 3.99 on 72 months.
InfinitePossibility8@reddit
As always it’s a little bit of everything.
LastPatrol@reddit
Consumer. The monthly is one thing but when a new truck approaches six figures, it’s getting ridiculous but people still sign up for it.
L_viathan@reddit
There are so many options around 30k lol. Even here in Canada there's a ton. People are either dumb or ignorant or insecure.
FrugalButDefNotCheap@reddit
Agreed. How many times will this sub post the same story? There are TONS of cheap and reliable vehicles in essentially every class of car. Same people who argue Mcdonald's should be held legally responsible for the obesity epidemic.
1mazuko2@reddit
Putting 500-1000 a year into maintaining my 25 year old car makes a lot more sense now.
Dazzling-Rooster2103@reddit (OP)
"Buyers are spending more time paying off those new cars with an average 69-month loan term."
69 months...
r00000000@reddit
Tracks with the $50k for an average new car stat (69*750)=52k but idc enough to get into how interest, lease payments, or down payments mess with these stats
BuriedMystic@reddit
The article gave $42,000 as the average transaction. That implies an APR of around 7% over 69 months at $748
haptic_feedback99@reddit
7 % is also a prime rate at the moment for a new car loan.
cloudsofgrey@reddit
A 780 credit score is getting something like 4.x at best on a new car and that is they are lucky
Unless some manufacturer is subsiding rates (i.e.1.9% rate, etc).
haptic_feedback99@reddit
I work at a gmc Buick store, currently very difficult to get people with 780+’s into the 5’s.
Flashy_Variation7174@reddit
Location must be a factor. My father got 1.9% with a two year old bankruptcy on a Denali ultimate, and I have a bankruptcy and got like 2.7% on a ram limited. My wife with perfect credit got 2.2% on her truck.
Substantial-Oil7569@reddit
Yeah, I bought my car about 6 months ago with an 820 and I think mine's in the 5's. I put a ton down though so it should be paid off before long.
haptic_feedback99@reddit
How do you like the new WRX? I appraised a 24’ the other day, styling looks so good but overall felt much more refined than what I’ve got (19’ STi). More of a luxurious sporty car than the raw performance feel of the VA
Substantial-Oil7569@reddit
I really enjoy it so far. My last two cars were a 2019 GTI (dsg) and 2011 WRX hatch. It blends the build quality and creature comforts of the GTI with the sporty AWD driving experience of the WRX. I like that it still feels pretty mechanical and even has some of that traditional high boost threshold that EJs had.
I have a factory short shifter + Cobb catback right now. I think once I get it protuned and change the wheels and some styling cues I won't miss not having an STi at all.
haptic_feedback99@reddit
After driving it I think a short shifter is a must have on it.
I’ve been playing with the idea of selling mine to get something like the inneos grenadier or a new Land Cruiser. But for now I’m gonna hang on to mine, my favorite car I’ve owned, WRXs are a great balance and probably the best drivers cars for the money.
debeatup@reddit
I came back with 791 and my wife was like 815 and we got like 4.2 last month, as a DP
Dazzling-Rooster2103@reddit (OP)
Probably around right, but Manufacturers are offering some pretty crazy rates.
haptic_feedback99@reddit
True, I work at a dealership, if you aren’t getting the manufacturer rate, and you have perfect/solid credit (700ish and up ) you’ll probably end up in the 6 - 8.9% range. With some money down you could get into the 5s with a shorter term. But not too short of a term because then the lender will give you a higher rate.
Zelderian@reddit
I’m surprised this isn’t heavily shifting the market towards manufacturers who offer better rates. We bought our odyssey last year at 2.9%, and my friend got their CX50 at 0.9% just last month. I wouldn’t really consider getting a new car at 6-8%, that seems like a huge waste of money on interest.
purz@reddit
It’s 3.5-5% for at least some credit unions. I got 3.8 on 48mo last month. Was 4.26 or something for 60mo.
haptic_feedback99@reddit
Yeah credit unions are a different deal, hard to match or beat them.
mishap1@reddit
Does this mean that no one puts any money down anymore? They give the interest rate in the article and the terrifying average used car rate of 11.5%.
anonymouswan1@reddit
Brother, not only is nobody putting money down, but they are more than likely dragging negative equity into this new loan via a trade-in that they're upside-down on. My old roommate was SEVERAL upside-down trade ins deep. He had a CBR600RR motorcycle that he got upside-down on the loan with, traded it in for a dodge dart that got upside-down, traded in for a dodge ram that got upside-down, traded in for an F350 that got upside-down, traded for some Audi CUV/SUV thing that is upside-down.
It's never ending for these people, but it doesn't personally effect me. It's not my finances or how I go about my business. I see redditors, and some co-workers who get absolutely pissed off about people making bad financial decisions. Who cares? It's between them, the dealer, and the bank. Not my, or your business to judge. Worry about your damn self.
DerpHog@reddit
It might not effect you now, but auto loans are the new subprime mortgages. When they run out of ways to shuffle that debt around to make it look like profit, we're going to have another 2008.
GGCRX@reddit
Not only that, if a dealership can sell a Civic to someone for 50 grand because they're dumb enough to be willing to take out an 8 year loan at 7%, why are they going to sell it to you for MSRP?
Easy access to imprudently borrowed cash is a great way to inflate prices.
Zelderian@reddit
College tuition prices with government-backed student loans followed this trend pretty closely.
GGCRX@reddit
It's a bit more complicated than that. As states pulled funding from universities, the universities had to make up the shortfall by charging students more.
Then there was the problem that boomers told Xers and Millennials that the only legitimate reason not to go to college is because you're too stupid to get in, so college enrollment ballooned massively, even amongst people who wanted to do careers that absolutely did not need a college education to be successful in.
This created higher demand and shorter supply, which made prices go up.
What the student loans did was reduce price pressure on the students, making them more willing to pay ridiculous tuition to go to school (that they thought they had to go to). Now schools were no longer competing on price, but on amenities. So you started seeing world-class fitness centers, student centers that looked like something off a cruise ship, etc. All that shit has to be paid for, leading to continued high prices even though enrollment has been declining for more than 10 years.
withsexyresults@reddit
Probably not, auto loan size is only 1.6T vs 16T for mortgages. Super small in comparison
DudeWhereIsMyDuduk@reddit
I put down 30K and still had a less-than-72 month loan denied. They know exactly what side of the bread gets buttered.
I'll have the Jeep paid off in '26 but if I wasn't sitting on liquidity from an injury settlement there'd be no way I would've been looking at a new car last year.
khay3088@reddit
that is scarily close to the purchase we just made haha. $42k before tax 6.5% 72 months. We usually pay off at around 4 years though. Crazy that's the average, we have 2 pretty high incomes and it felt like a very large commitment.
Alpine_Exchange_36@reddit
As my dad has told me countless times, people just look at the monthly. Can they swing or not….
altacan@reddit
Are people really that secure in their jobs they think they'll be able to manage the payment 6 years out?
gumol@reddit
are people really that secure in their jobs to be taking 30 year mortgages?
altacan@reddit
On a depreciating asset?
Zelderian@reddit
Assuming they have a proper emergency fund, yes. Because absolute worst case scenario, they lose their job, chew through some savings, and they end up having to sell the car. The key is to ensure you don’t end up underwater on the loan. But even then, the car is not the biggest concern if you’re out of work for longer than your emergency fund.
stupidber@reddit
*50 year mortgages
falcon0159@reddit
I mean, yeah. Even if you lose a job, you should be able to find another job within 3-6 months, and have an emergency fund to cover the inbetween time, and you might even end up with a higher salary/pay.
Are you expecting to lose your job and never be able to find another one for the rest of your life in the next 5 year?
Dazzling-Rooster2103@reddit (OP)
The G80 seems to be the very popular social media car now, I have seen people taking out loans with payments >30% of their take home pay for them.
StillPissed@reddit
The M3 or the Genesis?
Dazzling-Rooster2103@reddit (OP)
M3.
Despite the controversy on here, it seems to be a very very popular "influencer" car.
gumol@reddit
Including this subreddit. “Why would you pay over 1000 bucks a month for a Honda?” - because I don’t want a 72 month loan.
bgarza18@reddit
Counterpoint: 60 month loan buys me a lower payment if I need it. Otherwise I’m always free to pay off early
GimmeChickenBlasters@reddit
If you think you need a lower monthly payment you should get a cheaper car. The shorter the term the lower the interest rate. If you plan on paying it off early you're still going to pay more than if you went with a shorter term from the start.
GodsFavoriteDegen@reddit
What he's saying is that you make extra principal payments.
Assuming equal interest rates for the loans, the total interest paid on a 60 month loan paid off like it's a 36 month loan (that is, you include extra towards the principal every month) will be the same as a 36 month loan.
The longer loan gets you headroom in case things get bad. If you need to free up a few hundred dollars for a few months, you just don't send the extra principal payments in.
GimmeChickenBlasters@reddit
No, they're not.
If they're unsure they can even make the normal payment they certainly don't have enough to make extra payments. They will get a higher rate if they take the longer loan.
Zelderian@reddit
I love watching people argue so confidently when clearly they’re wrong
GodsFavoriteDegen@reddit
They aren't unsure about making the lesser payment. The uncertainty applies to the larger payment.
The logic is, yes, he can make that larger payment now and for the foreseeable future, but if something happens and he needs to free up a few hundred dollars a month, he can make the lesser payment. It creates a fallback position in the event of economic difficulty.
Perhaps /u/bgarza18 will come back and settle this, but I believe you're misinterpreting his intent.
bgarza18@reddit
You’re correct.
bgarza18@reddit
You’re wrong, the other commenter was right.
gumol@reddit
Also true! I always get the loan length that gets me the lowest APR.
cadmiumredlight@reddit
This always fries my cheese. The monthly amount is meaningless without the length. My used Lexus had a $22,000/mo payment, but it was only for one month.
SupplySideTanaka@reddit
Yeah I had a $40000/mo payment on my BMW. Market is going crazy!
Jasonp359@reddit
Yeah I got a brand new Miata last year and am paying over 500 per month but it's because I got a really good interest rate on a 3 year loan. No way I will ever pay 500 a month for 6+ years.
TangieChords@reddit
Did you have a large down payment or trade in? How did you get 500/mo for 3 years? Because I got a Miata with financing at 0.99% for 3 years and it’s much higher than 500/months on payment.
Jasonp359@reddit
Yeah trade in and down payment
Aroused_Pepperoni@reddit
Subscription economy. Car payment is just another "subscription" consumers have been convinced they'll have to pay in perpetuity.
ZeroWashu@reddit
hell, let me introduce you to the suggested loan terms on Harley's site for a new Street Glide, 84 months. They even offer 96 month loans.
Financing Offer available only on new Harley-Davidson® motorcycles financed through Eaglemark Savings Bank (ESB) and is subject to credit approval. Not all applicants will qualify. This 11.99% offer is available on new Harley Davidson® motorcycles to high credit tier customers at ESB and only for up to an 96-month term. The APR may vary based on the applicant’s past credit performance and the term of the loan. For example, a 2025 Street Glide® motorcycle in Billiard Gray with an MSRP of $27,749, a 10% down payment and amount financed of $24,974.10, 96-month repayment term, and 11.99% APR results in monthly payments of $405.76
JillierHaroldLamaar@reddit
I wonder how many of these loans are being taken out by people who are not expecting to live long enough to pay them back.
stupidber@reddit
Niceeeeeee..........
workMachine@reddit
Nice....job dodging the Automod
stupidber@reddit
Stupid automod
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trackdaybruh@reddit
“As long as I can make the monthly payments, then I can afford it”
That “affordable” monthly payments is only available if they get a +6 year car loan
trackdaybruh@reddit
Niceee
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Redeemed_Expert9694@reddit
69
^(months)
is crazy
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Unlucky-Work3678@reddit
I am not concerned about the number. The average went up because poorer people just don't buy/upgrade any more. But the richer ones who made significant amount of money from stock and real estate in the last a few years and continue buying what they typically buy.
I "passively" made 800k in the last 5 years solely from the appreciation of my house(s) and all my invested asset. I am not selling any of them so I don't buy expensive cars, but I can see many many people do sell and upgrade their life that they CAN AFFORD.
People should stop watching too much YouTube or these type of "reports" using extreme examples, because they only report them as it gets views. No body talks about how someone made 200k from their 500k investment and spend $80k on a Mercedes.
Friendly-Iron@reddit
We need 120 month loans!
Jneal1013@reddit
Im driving a 2011 kia optima 290k miles and had a new engine put in at 100k. I just did 3500 in repairs. Only reason I keep fixing it is I use a company that approves you even no matter your credit for certain auto shops. The catch is that you have to pay it off in 100 days for it to be interest-free or it goes up a good amount with interest each month after. Ive used them since 2020 for multiple cars and have always just paid it off on time no matter what and have had 0 issues . I walk out the door every time, paying 0 out of pocket keys in hand .
With how insane car payments are in 2025, on top of the increase in insurance, Im just gonna repair as I go for now.
mkvii1989@reddit
I make about $150k/yr, my wife is a SAHM, our mortgage is only $1200/mo including taxes and insurance, and the idea of two $750 payments makes my eyes water.
Personal finance should be mandatory in schools, man. I’m not absolving corps but no one is forcing parents with two kids to buy a brand new F-150 and Explorer Sport to drive to the school and the office.
rg25@reddit
The American economy depends upon people making poor financial decisions. If everyone knew how to budget then our maximalist consumer culture would hurt.
s4ltydog@reddit
I mean I just bought a car a few months ago with a $742 payment but that’s with a 4 year loan and I have virtually no other debt aside from my mortgage. That’s gotta be what other people are doing too right guys? ……
Free_Range_Gamer@reddit
I know someone who bought an expensive truck and then refinanced their house and rolled the truck loan into the mortgage. Why pay in 4 years when you could do 30 right?
s4ltydog@reddit
Jesus fucking Christ..😳
Dazzling-Rooster2103@reddit (OP)
Na, they are taking out 72+ month loans on a G80 XDrive, payments being 40% of their take home paycheck every month.
s4ltydog@reddit
Man I can’t even wrap my head around that….. after taxes, 401k, insurance and bills our discretionary $ left over previously was like $2500-3k depending on if I got OT or not and I was nervous as fuck signing up for a car payment….
Historical_Cable9719@reddit
Yikes. Maybe, just maybe, buy what you can afford not what you want.
ChasedWarrior@reddit
Everything you want is not everything you need.
JustHereForGoodFun@reddit
Jesus. I have been having such an internal debate on whether or not I want to have a $350 payment for a 48 month term and yet people are having these car payments…
ChasedWarrior@reddit
I almost feel like I'm not keeping up with the neighbors with my 350 a month payments, compared to my friends' 1200 a month on his pickup.
Dazzling-Rooster2103@reddit (OP)
I am saving up a nice down payment + trade in to make sure its <$400/month for 48 months for my next car.
s3cf_@reddit
nice. i used to pay $750/month for rent
HI_IM_VERY_CONFUSED@reddit
To be fair you can sleep in your car
s3cf_@reddit
you go right ahead.
Zeejayyy@reddit
My current mortgage is $750 a month.
I want a new vehicle but can't justify it yet, so instead I'm just paying double on my mortgage.
dreydin@reddit
I remember $400 and it really wasn’t too long ago
Throwawaymytrash77@reddit
Absolutely fucking not, thanks
OldCryptographer8569@reddit
if you sign up for a $750/month car payment, that's on you bud. not the carmaker.
doggy-dad@reddit
I remember I bought a new 2016 Mercedes C450 AMG that was pretty well equipped and my payments were around $750 with a bit down/60 month loan and everyone thought I was crazy back then and now it's the average...
(I got some pretty good discounts on it, the sales guy gave him his employee discount as he needed this sale for some bonus, plus i got a corporate discount as well, no trade in)
Fiasko21@reddit
Was JUST discussing this stuff with my friends, they thought how ridiculous that is, and how people are being dumb and overspending, putting themselves in such vulnerable situations when the cost of everything is going up so quick.
They asked me how I got my newer Civic (2023) for $263/m, (Good credit, a small down payment, and an old beater traded in).
Turn around, and a couple months later BOTH of them get new vehicles (gas guzzlers) with payments over $900. One of them has no house yet, and wants a house.. the other one has zero money saved for retirement.
I can't make this stuff up, they both make about the same as me.
fan-tung@reddit
It’s like your friends are glorified chat bots. Able to string words together from what they’ve heard in the works but really have zero understanding of it all.
Those dickbag CEOs are right those chatbots might as smart as some of us
Cal3001@reddit
Even used car rates are ridiculous. In 2017 I put $2k down for an Evo and got 3.99% for $450/mo. Going into the same price range for used cars, it like 6-8% apr and nothing below 500/mo finance.
olllooolollloool@reddit
That's wild, my wife and I are both military officers who make very good money, and our COMBINED car payments are $700/month.
one_five_one@reddit
what's the median car payment though?
cyberdude419@reddit
Not me! I found a 2008 hybrid, paid in full, no car payments, with $80-100 month in gas costs! Fuck the billionaire class, live below your means when it comes to a car that sits in garage or parking space 90%of the time.
hondactx16i@reddit
Wow, shits gotten really expensive over the pond. Hope your employers are keeping up with pay rises, right?........right?.
obsidianop@reddit
You don't actually need a new car, much less a $50k new car. That's a choice. I'm tired of this "the cost of living keeps going up" thing. What keeps going up is expectations. I make good money and I bought a used car for $12k cash five years ago. I drive it every day. It's great. Once a year it needs $1k worth of work, max.
AmNoSuperSand52@reddit
I mean regardless of used vs new car, cost of living has in fact gone up
obsidianop@reddit
This just isn't really true with regards to any available data. It's just something everyone has decided is true.
The only exception is housing, which we under build. We should fix that. In the meantime, if you want a house, don't buy a new car.
AmNoSuperSand52@reddit
Well housing is also most people’s largest expense by a landslide, so price of housing going up pretty directly impacts cost of living
obsidianop@reddit
Indeed, all the more reason to not buy a $50k new car.
I just want to reiterate, I was replying to a comment that was like "woah life must be hard there in the hellscape of the USA if median priced new cars have increased" yes don't buy them! It's not a necessity!
meatdome34@reddit
Mine is at least, 10% per year the past 5 years
mkvii1989@reddit
Cars aren’t more expensive here. Everyone just buys fucking seven passenger, $50k SUVs to drop their two kids off at soccer.
Scarecrow216@reddit
Nope lol
Bonerchill@reddit
with wot
blunted09@reddit
Had the option of fixing my 2010 Honda pilot for $4K CAD (new gaskets and piston seals) with 230000km’s or buying another car.
After shopping for a few weeks I was completely turned off of buying another car new or used.
Not sure if I made the right choice but at least I don’t have insane monthly payments.
Psyclist80@reddit
I don't buy until I have the cash in hand. Too many folks trying to keep up with the Jones' or hittin that dopamine kick a little too quick. Don't take on more debt if you can avoid it... It'll keep you a slave.
New_Ad_3010@reddit
There's no way that's sustainable
Noisyrussinators@reddit
I drive a late model vehicle for peace of mind against the army of 5000+ pound vehicles on the road.
That $5k, 04 Camry will crumple like a tin can up against a 5500 pound F-150... You know... The best selling vehicle in America.
No thanks. My family and I will stay alive thank you very much.
Nhojj_Whyte@reddit
It actually won't and that's part of the problem! Crumple zones are there to save your life. I don't know the exact year range, but old old cars that were built like brick shithouses could easily survive low speed crashes and may even have minimal damage; trouble is, going from 60-0 in .1 seconds would likely snap your neck. It's modern cars that crumple like tin cans in accidents, regardless of truck or sportscar, and that'll probably save your life. It's true a bigger car has more room to crumple, but an original VW bug (steel frame and the like) vs a modern F150 in a crash would be hilarious and possibly counter-intuitive. The beetle would be yeeted, but intact, while the F150 would look like a tornado hit it, though the drivers would more likely survive in the truck anyway.
You've got the right answer using the wrong formula. Any modern vehicle regardless of make is going to be a lot safer, technically, than an older equivalent, but big vs small doesn't mean nearly as much when they're both designed to deflate like a balloon on impact.
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TwentyHourPharmacy@reddit
What till you see the 4’11 mom driving a 6000 pound Lincoln Navigator with 4 1-5 year old distractions in the back
m0viestar@reddit
If the rate is low, and you plan on keeping the car till the wheels fall off theres minimal difference between a 5 or 6 year loan. I've got 0% on my truck and I stretched it out to 84 months, it costs me nothing and my payment is lower and it's a truck so it won't depreciate like a rock.
But most people aren't doing basic math before getting a loan.
digbug0@reddit
They could also pay $772/mo. for 67 months… /s
DeezNeezuts@reddit
They’ve taken the student loan industry and duplicated it for cars.
Dignam3@reddit
Difference is one is an (well, for many) investment, the other is a depreciating asset. Which makes it so much worse when people are spending almost half their take home pay on a car.
DeezNeezuts@reddit
You’re right - I was thinking of it more in line of allowing folks to take on more and more loan debt over longer periods of time. I believe this was shown as one of the main reasons for increasing tuition costs, thinking it’s also helping drive up car costs.
CarpeNivem@reddit
I am so proud of Americans for taking out shorter loans. Good job all.
(That... That is what's going on, right?)
TenguBlade@reddit
It’s worth pointing out that the average new car loan payment was about $535/month in 2019, which comes out to only ~$689/month adjusted for inflation. Average loan terms were a bit higher at 72 months versus 69, for what little that’s worth.
Payments are definitely outrunning inflation, and by a lot. It’s not even really MSRPs that are driving it either: average new car price was around $40k in 2019, and adjusted for inflation, that’s $51.5k today - the actual average new car price was a hair under $52k. People are just accepting shittier payment terms.
angrycanuck@reddit
1030 cad for a new car, damn.
741 Cad for a used car
guy_incognito784@reddit
Yeah but on the plus side….the term is also going up….
BuriedMystic@reddit
Double it and give it to the next person
SauteedGoogootz@reddit
Thank go we got ride of Fuel Economy. That number is going to go down by like 600%.
Dazzling-Rooster2103@reddit (OP)
With how some of these EV's are depreciating...