(16% of American consumers paying at least $1,000 a month for their cars)
Absolutely crazy
Maybe people trying to buy BMW’s on a Ford Focus budget.
75% of Ford F-150 buyers.
There’s still plenty of lease deals in the $269/mth range in my area.
I had the good sense to buy a double wide in 2016 with the payment and escrow being around 520-600 monthly. My wife had to fight for her disability for 1.5 years and we had to surrender two vehicles that totaled 950 monthly, cashed out my retirement to buy a vehicle. now we have taken the payments over for our son’s Kia and then my 28 yo truck laid down and with my credit I am paying 16% interest on a 12k Xterra. 373 a month. One dealer was willing to put me into a tiny SUV for 600 a month and I told them to fly a kite, but no doubt if I got a tax return I could easily get a 1000 loan on a used 4x4 pickup if I was that stupid.
When a car runs $40,000 and you have a 5 year loan this kind of a payment is normal, people are INSANE to get under this kind of debt for a damn car!!! The minute you drive it off the lot it loses value!!
It’s help if the damn feds would stop mandating all this frivolous bs be added in cars.
It all adds to the damn price