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Re: Average new car payment $554 [Re: AuthorEditor] #5129670
06/09/19 08:12 PM
06/09/19 08:12 PM
Joined: Aug 2003
Posts: 11,656
Buffalo, NY
JTK Offline
JTK  Offline

Joined: Aug 2003
Posts: 11,656
Buffalo, NY
A $554/mo vehicle payment is nothing compared to some of my co-workers and friends "must have" truck or SUV payments. It's not my thing, but I know it's indeed a thing. Most have 84mo loans as well.


2017 Ram 1500 4x4, 3.6L.
2016 Nissan Quest SV (Babe magnet IV)
2015 Nissan Versa 1.6 S
Re: Average new car payment $554 [Re: philipp10] #5129759
06/09/19 09:35 PM
06/09/19 09:35 PM
Joined: Jul 2005
Posts: 11,772
Maricopa Arizona
dave1251 Offline
dave1251  Offline

Joined: Jul 2005
Posts: 11,772
Maricopa Arizona
Originally Posted by philipp10
average car payment of $554....lol. NOT IN MY WORLD. I refuse to join that sorry group. My goal is to become well off enough to retire and not have to worry about money and a car payment like that is just not going to happen. No wonder about 1/2 of Americans don't have 2 nickels to rub together.


From this it sounds like you are very judgmental to each is their own. At least you have a better grasp of finance then most.


make the inside of your engine oil cap white.
don't use.
Re: Average new car payment $554 [Re: CKN] #5130038
06/10/19 09:02 AM
06/10/19 09:02 AM
Joined: Nov 2008
Posts: 13,977
NH
supton Offline
supton  Offline

Joined: Nov 2008
Posts: 13,977
NH
Originally Posted by CKN

Remember-there are those on here who buy a $200.00 ( that's been in a flood) beater-and the goal is to drive it to a half a million miles and reach (in their opinion) the pinnacle of automotive excellence.

I don't know if I'd call "automotive" excellence, but if I could actually do that it'd be a stroke of financial excellence. At least for me.


2011 Toyota Camry, base, 2.5L/6MT, 187k, hers
2010 Toyota Tundra DC, 4.6L/6AT, 152k, ours
1999 Toyota Camry LE, 2.2L/4AT, 208k, his
Re: Average new car payment $554 [Re: philipp10] #5130039
06/10/19 09:06 AM
06/10/19 09:06 AM
Joined: Nov 2008
Posts: 13,977
NH
supton Offline
supton  Offline

Joined: Nov 2008
Posts: 13,977
NH
Originally Posted by philipp10
Originally Posted by tony1679
Linctex has it right. Give me my very nice, very roomy $100k house (or even better a small ~700 square foot small house for ~$50k including a few acres of land in a rural area). I could literally retire for the rest of my life on $200k. And I'm 29. Everyone loves to smirk2, but I absolutely could.

Cookie-cutter 4,000 square foot houses, Escalades for a soccer mom of one, and grocery-getting Raptors are for imbeciles.

the rule of thumb is you can take about 4% off your investments. So if you think you can retire on 8k a year......have at it. I would not retire until I had a million in the bank and even that is not that much extra.

I've never quite understood the 4% rule. I think it's from the assumption of little to no growth in the fund, or just enough to keep up with inflation, and 25 years of life in retirement. 4 * 25 is 100%, after all.

Thus, retiring at any age below about 60 would require a withdraw rate lower than 4%. Unless if one has their assets in something that will grow, and can handle the ups and downs of the market.

shrug I'm no financial guy though.


2011 Toyota Camry, base, 2.5L/6MT, 187k, hers
2010 Toyota Tundra DC, 4.6L/6AT, 152k, ours
1999 Toyota Camry LE, 2.2L/4AT, 208k, his
Re: Average new car payment $554 [Re: AuthorEditor] #5130041
06/10/19 09:08 AM
06/10/19 09:08 AM
Joined: Jan 2003
Posts: 511
New Jersey
flinter Offline
flinter  Offline

Joined: Jan 2003
Posts: 511
New Jersey
56 years old and NEVER had a car payment in my life....and NEVER will. I currently drive a MINT condition 2017 Hyundai Elantra Value Edition, paid cash. Remember, one NEVER gets rich with constant car payments!


2017 Hyundai Elantra SE Value Edition
Purchased new with 10 miles
Re: Average new car payment $554 [Re: flinter] #5130087
06/10/19 09:49 AM
06/10/19 09:49 AM
Joined: Dec 2011
Posts: 6,352
North Carolina
rooflessVW Online content
rooflessVW  Online Content

Joined: Dec 2011
Posts: 6,352
North Carolina
Originally Posted by flinter
56 years old and NEVER had a car payment in my life....and NEVER will. I currently drive a MINT condition 2017 Hyundai Elantra Value Edition, paid cash. Remember, one NEVER gets rich with constant car payments!

Are you rich?


"Zed's dead baby, Zed's dead."
Re: Average new car payment $554 [Re: flinter] #5130094
06/10/19 09:53 AM
06/10/19 09:53 AM
Joined: Nov 2008
Posts: 13,977
NH
supton Offline
supton  Offline

Joined: Nov 2008
Posts: 13,977
NH
Originally Posted by flinter
56 years old and NEVER had a car payment in my life....and NEVER will. I currently drive a MINT condition 2017 Hyundai Elantra Value Edition, paid cash. Remember, one NEVER gets rich with constant car payments!

I think that's considered a non-sequitur. Someone making six figures per year, who lives cheaply, could max out their retirement savings potential yet decide to buy a new car every year.

Ultimately the path to richness is to spend less than you make. For most, a car payment a hindrance. But for some, particularly as you climb the income ladder, it's not really that big of a deal. But most people prefer to live at the edge of their budget and not worry about saving...


2011 Toyota Camry, base, 2.5L/6MT, 187k, hers
2010 Toyota Tundra DC, 4.6L/6AT, 152k, ours
1999 Toyota Camry LE, 2.2L/4AT, 208k, his
Re: Average new car payment $554 [Re: rooflessVW] #5130155
06/10/19 11:10 AM
06/10/19 11:10 AM
Joined: Jul 2002
Posts: 5,063
KY
MCompact Offline
MCompact  Offline

Joined: Jul 2002
Posts: 5,063
KY
Originally Posted by rooflessVW
Originally Posted by flinter
56 years old and NEVER had a car payment in my life....and NEVER will. I currently drive a MINT condition 2017 Hyundai Elantra Value Edition, paid cash. Remember, one NEVER gets rich with constant car payments!

Are you rich?


Do you actually think you will get a straight answer?


Mine:
2014 M235i
2009 Cooper Clubman
1999 Wrangler Sahara
1995 318ti Club Sport

Wife's:
2015 X1 xDrive28i M Sport


Son's
2009 328i

Buy what makes you smile...
Re: Average new car payment $554 [Re: MCompact] #5130173
06/10/19 11:28 AM
06/10/19 11:28 AM
Joined: Dec 2011
Posts: 6,352
North Carolina
rooflessVW Online content
rooflessVW  Online Content

Joined: Dec 2011
Posts: 6,352
North Carolina
Originally Posted by MCompact
Originally Posted by rooflessVW
Originally Posted by flinter
56 years old and NEVER had a car payment in my life....and NEVER will. I currently drive a MINT condition 2017 Hyundai Elantra Value Edition, paid cash. Remember, one NEVER gets rich with constant car payments!

Are you rich?

Do you actually think you will get a straight answer?

Of course not.


"Zed's dead baby, Zed's dead."
Re: Average new car payment $554 [Re: AuthorEditor] #5130313
06/10/19 01:48 PM
06/10/19 01:48 PM
Joined: Jul 2014
Posts: 637
Wisconsin
Srt20 Offline
Srt20  Offline

Joined: Jul 2014
Posts: 637
Wisconsin
LMAO at all the judgemental people in here....

Why do you worry about what others do????

Re: Average new car payment $554 [Re: Srt20] #5130325
06/10/19 01:55 PM
06/10/19 01:55 PM
Joined: Nov 2008
Posts: 13,977
NH
supton Offline
supton  Offline

Joined: Nov 2008
Posts: 13,977
NH
Originally Posted by Srt20
LMAO at all the judgemental people in here....

Why do you worry about what others do????

Remind me how well we all did during the last credit crunch.


2011 Toyota Camry, base, 2.5L/6MT, 187k, hers
2010 Toyota Tundra DC, 4.6L/6AT, 152k, ours
1999 Toyota Camry LE, 2.2L/4AT, 208k, his
Re: Average new car payment $554 [Re: Srt20] #5130383
06/10/19 02:46 PM
06/10/19 02:46 PM
Joined: May 2019
Posts: 760
WA
Mad_Hatter Offline
Mad_Hatter  Offline

Joined: May 2019
Posts: 760
WA
Originally Posted by Srt20
LMAO at all the judgemental people in here....

Why do you worry about what others do????


In general I don't. However, we don't live in a vacuum and most of us aren't so well off that we're fully insulated from the effects that poor lending/borrowing practices have on the economy. And people did say the same thing before all those bad home loans helped crash the economy. Both the banks and the borrowers knew they were getting loans they had no business having.

Like the "Ninja" loan...no income, no job application.

Last edited by Mad_Hatter; 06/10/19 02:55 PM.
Re: Average new car payment $554 [Re: supton] #5130423
06/10/19 03:09 PM
06/10/19 03:09 PM
Joined: Mar 2017
Posts: 10,030
...
PimTac Offline
PimTac  Offline

Joined: Mar 2017
Posts: 10,030
...
Originally Posted by supton
Originally Posted by Srt20
LMAO at all the judgemental people in here....

Why do you worry about what others do????

Remind me how well we all did during the last credit crunch.




I did quite well. I use my credit very conservatively. I could see what was coming many many months prior and many people did not believe it.

I’m not the only one. Many people, in fact most people were able to adapt and live fine. The focus was of course on those who overextended themselves and played the home equity game.


2017 Mazda CX5
Havoline Pro DS 0w20
Roki OEM filter.
Re: Average new car payment $554 [Re: AuthorEditor] #5130433
06/10/19 03:18 PM
06/10/19 03:18 PM
Joined: Sep 2004
Posts: 22,875
Central Florida
Mr Nice Offline
Mr Nice  Offline

Joined: Sep 2004
Posts: 22,875
Central Florida
Nobody can blame the commissioned folks in finance that know certain people are overextended and buy houses and vehicles they can’t afford.

All these folks care about is selling and selling....

Re: Average new car payment $554 [Re: supton] #5130453
06/10/19 03:45 PM
06/10/19 03:45 PM
Joined: Jul 2014
Posts: 637
Wisconsin
Srt20 Offline
Srt20  Offline

Joined: Jul 2014
Posts: 637
Wisconsin
Originally Posted by supton
Originally Posted by Srt20
LMAO at all the judgemental people in here....

Why do you worry about what others do????

Remind me how well we all did during the last credit crunch.


So what is judging on an internet forum going to do?

People complaining about others is going to change anything?

Worry about yourself, and take care of your own issues so things dont happen to you.

Give good advice to people that ask.

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