That's why I own an '84 FJ60.  That, and I like em....

Quoted: Quoted: Well how else are people suppose to buy a new car?You got 40K laying around?Most people dont so they have to finance the car. Who told you that you deserve a 40k car that you can't pay for?

OWNED!!!

I pay $260 a month for my VW. It's used. It goes fast. I need nothing fancy.

You're a if you pay more than $500.00 a month for a car, no matter how fancy it is.

Quoted: I pay $260 a month for my VW. It's used. It goes fast. I need nothing fancy. You're a if you pay more than $500.00 a month for a car, no matter how fancy it is.

how abouts you let people buy what they want?

$500 a month average?

I honestly find that difficult to believe.

A large part of the population has a car payment of $0, like me, if only because
they drive a beater.  **

A similarly large part of the population has very low car payments because that's simply all they can afford.

To reach that $500 average, that means you have to have shitloads of people
paying way more than $500 a month, and I can't believe that.

Where did you see it? I wonder if the stat is given by some bank that want's to
convince people that it's normal to pay $500 a month for a car.

OR, I could be WAY out of sync with the way people spend money. That is very possible.

** ETA: Ok, I'm thinking about it wrong ....... if you have no car payments you're
not factored into the average. I'm dumb. But I still think there are way too many
people with low car payments, which would mean that $500 average would be tough
to get.

I can understand the negatives of financing a car you can't really afford, but I also think it's retarded to pay cash(regardless of cost) for a car you don't like.  If a car is just something to get you from point A to B, then I guess it's not a big deal.  But I have to like the way a car rides, the way it handles, the ergonomics, etc.  I enjoy cars and driving WAY too much to be miserable in some POS car for several years. (ETA:  Just trying to say spending thousands of dollars on something you don't like is dumb.)


That said, I'm making the last payment on my VW when I get home from work tonight.  I'm not sure what I'm doing next.  There are two cars I like, one is available now (new only) and the other will be available in about a year but about 8$k cheaper.

On the second car, if it were available today, I would trade today.  I'd have payments again, but they would be about $100/month less than what I'm just finishing.  I wouldn't save any money by waiting a year, because anything I would save in that time period would probably be lost through depreciation(the current car has ridiculously high resale, I don't think that will last).



On a different note, Yahoo Finance had an article on auto insurance this morning.  They were talking about the most expensive cars to insure... one of them being a $130k Mercedes SL, with insurance cost of about $20k/year!!

Quoted: $500 a month average? I honestly find that difficult to believe. A large part of the population has a car payment of $0, like me, if only because they drive a beater.  ** A similarly large part of the population has very low car payments because that's simply all they can afford. To reach that $500 average, that means you have to have shitloads of people paying way more than $500 a month, and I can't believe that. Where did you see it? I wonder if the stat is given by some bank that want's to convince people that it's normal to pay $500 a month for a car. OR, I could be WAY out of sync with the way people spend money. That is very possible. ** ETA: Ok, I'm thinking about it wrong ....... if you have no car payments you're not factored into the average. I'm dumb. But I still think there are way too many people with low car payments, which would mean that $500 average would be tough to get.

NEW car payment, the used car market is not factored in.

Quoted: Holy crapola, how anyone can pay over $500.00 a month for a new car WHY? To impress friends and neighbors? for an average of 58 months SUCKAS! is beyond me. Thats more then my house payment is. Me too! No wonder so many people can't pay the bills, it's being spent on a depreciating hunk of plastic and steel sitting in the driveway.

+1.

Especially when you see $40-60K SUVs sitting in parking slots in trailer parts and low income housing projects.

Only the project SUVs often have $5K rims on too!

J

ETA:  I've had one car payment since college...  in 02 I borrowed 10K for my current car.  Paid it off in 2 and a half years.  Not having a payment is a good thing.  A really good thing.

I have a $507 monthly payment on my 06 Jeep.  But I got it on a 3 year loan with over $8K down and I'll most likely pay it off early.

$500/month for 6 years is insanity.

kid at work just traded a cherokee that was in good shape, and that he still owed money on, for one of those new big ass v8 jeep products (commander maybe?)
no idea how much he's paying, but he's been calling in sick a lot, especially on mondays (our busiest day) so I have a feeling once some of the newbies get better trained and some experience he's gonna get canned

Quoted: I'm always impressed by how many Arfcommers manage their debt effectively.

Or at least claim to.
Ask them how many guns they've bought on impulse with a credit card.

Quoted: Quoted: Holy crapola, how anyone can pay over $500.00 a month for a new car WHY? To impress friends and neighbors? for an average of 58 months SUCKAS! is beyond me. Thats more then my house payment is. Me too! No wonder so many people can't pay the bills, it's being spent on a depreciating hunk of plastic and steel sitting in the driveway. +1. Especially when you see $40-60K SUVs sitting in parking slots in trailer parts and low income housing projects. Only the project SUVs often have $5K rims on too! J ETA:  I've had one car payment since college...  in 02 I borrowed 10K for my current car.  Paid it off in 2 and a half years.  Not having a payment is a good thing.  A really good thing.

I see a new 600SL parked at a project around here

Quoted: Quoted: I'm always impressed by how many Arfcommers manage their debt effectively. Or at least claim to. Ask them how many guns they've bought on impulse with a credit card.

I'll admit I have. I also paid the CC bill off right after I received it.

Buying guns on impulse with a credit card?  Ammo maybe over the last ten years, but seldom guns.

Most recently, I bought three at an auction a couple of months back on impulse.  Paid cash.

They weren't for me though...  They were screaming bargains I bought for Guns Save Life for our monthly gun drawings.  We give away a gun each month at our meetings.  Club reimbursed me.

Next month it's going to be the S&W pre-Model 15 .38 Special.  Sweet ass trigger.  Mechanically excellent, good finish (holster wear).  I think I picked that one up for $170.  

I brought it home along with the other two and kinda wished I'd of kept it for myself!

John

Good for you if you can afford it, but like the near 60% of America who's in debt up to thier ears...sucks to be you for being an idiot.. I only have a couple K left on my truck, 2K in student loans...ZERO on the credit card...lets not talk about the 200K on the house though.

Just today I talked to a Joe (Jane?) moving to Germany.

I advised she just sell her car, and buy a new one there.  It is quicker than waiting for the boat to show up.

The she says she is still upside down on it - she has had it 2 years!  Turns out she drives a full size '05 SUV.

So, an E-4 is cruising around in a newer, fancier car than me - and wondering why she can't make ends meet.  Sheesh - she spends easily 50 bucks a week just on gas!

Stupid hurts.

Quoted: Just today I talked to a Joe (Jane?) moving to Germany. I advised she just sell her car, and buy a new one there.  It is quicker than waiting for the boat to show up. The she says she is still upside down on it - she has had it 2 years!  Turns out she drives a full size '05 SUV. So, an E-4 is cruising around in a newer, fancier car than me - and wondering why she can't make ends meet.  Sheesh - she spends easily 50 bucks a week just on gas! Stupid hurts.

Yeah, that's a different issue.

That simply not being able to afford what you have.

People that don't know how to use credit, is different than people using credit.

I have 2 used 2005's, I was never upside down for a second. I bought each for under what Edmunds said they were worth.

You have to know how to use credit. Misusing credit, or not using credit when it's to your advantage, are both dumb.

For those that can buy used cars, with cash, and have the skill and time to keep them running, good for you.

Some of us need are vehicles to be reliable, and are willing to pay for that.

Just traded a "needs work" 1991 Suburban 3/4 ton for a "ready to go another 150,000 miles" 1988 Jeep Cherokee.

I spent $3,500 on a '69 GMC 4x4 about 4 years ago, and haven't spent another dime... just keep finding folks who want to trade, and I come out ahead!!!  

Quoted: Quoted: Just today I talked to a Joe (Jane?) moving to Germany. I advised she just sell her car, and buy a new one there.  It is quicker than waiting for the boat to show up. The she says she is still upside down on it - she has had it 2 years!  Turns out she drives a full size '05 SUV. So, an E-4 is cruising around in a newer, fancier car than me - and wondering why she can't make ends meet.  Sheesh - she spends easily 50 bucks a week just on gas! Stupid hurts. Yeah, that's a different issue. That simply not being able to afford what you have. People that don't know how to use credit, is different than people using credit. I have 2 used 2005's, I was never upside down for a second. I bought each for under what Edmunds said they were worth. You have to know how to use credit. Misusing credit, or not using credit when it's to your advantage, are both dumb. For those that can buy used cars, with cash, and have the skill and time to keep them running, good for you. Some of us need are vehicles to be reliable, and are willing to pay for that.

I guess it depends on what you consider the issue.  Is the issue the use of credit?  Or the mentality that everyone "needs" a new fancy car?  I was tracking the latter, and posted in that framework.

Quoted: Over the years my car pride has diminished...

Ain't that the truth. I can (and do) drive a bucket o' bolts.

However, I really can't be caught dead in a minivan, so my pride is not completely gone.