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    The Car Lounge

    View Poll Results: What is your avg car payment per car not including fuel, insurance, maintence.

    Voters
    312. You may not vote on this poll
    • $0 because they are paid off

      106 33.97%
    • $300 and Under

      34 10.90%
    • $301 -$600

      120 38.46%
    • $601 - $1000

      43 13.78%
    • $1001 +

      9 2.88%
    Page 2 of 10 FirstFirst 123456 ... LastLast
    Results 26 to 50 of 241
    1. #26
      Member 4th Branch's Avatar
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      My recent lease was $840/mo

      Back in 2011 I bought a used M5 for ~$55k, originally planned to buy it cash but last minute changed my mind and financed it for 24 months with 0 down, my payment was almost $2500/mo

      A family member just bought out a RR Sport she was leasing for ~$1100/mo, payment is in the $700's now

      My brother just picked up a Porsche ~$95k OTD, financed $90k of it over 84 months, payment is in the $1200's

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    3. #27
      Member VAB5's Avatar
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      5 cars, 4 paid for/paid cash, 1 payment >$600.

    4. #28
      Member Egz's Avatar
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      525 for the Fusion, but that had some previous negatives rolled in, because of car ADD.

      No more rolling negative for me.

    5. #29
      Member Smigelski's Avatar
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      We have three cars:

      2019 Ridgeline: Paid outright with trade from my (paid off) Golf R, my Golf R parts (parted out), and selling my Ranger.

      2019 Miata: Saved up for a while for a good down payment, and I paid it off within a year of buying in. Payment within the year was $400.

      2017 Civic: We still have a loan on this car. It's $300, but the interest rate is 0.9%. So we let it ride, paying ~$4 per month in interest charges for the pleasure.

      Our previous Golf R had payments of $400 when we had a loan on it.


      I guess you could say I'm 'comfortable' with payments in the <= $500 range.

    6. #30
      Member vasillalov's Avatar
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      39, single, living alone.

      Two cars both paid off:
      • 2008 BMW 335i - converted to a dedicated track car. Paid off back in 2010.
      • 2010 Toyota RAV4 Ltd - my "donkey". Bought it used and paid cash for it back in 2018. I use it for everything: grocery getting, hauling lumber and supplies from HD, ski trips to the Rockies, camping. I recently put a tow hitch and I plan on towing the BMW to HDPE events all over the midwest.


      I've not had a car payment since 2010. It's awesome! Do I lust after the new cars?.. sure I do. Do I need a new car? Hell no.
      Last edited by vasillalov; 09-14-2020 at 08:10 AM.
      Quote Originally Posted by MAG58 View Post
      Please consider your audience before saying something sensible. 80% of TCL drivers were actually banned from Formula 1 for being too fast.
      A turbocharger is a device in where exhaust gases go in, witchcraft happens, and then you go faster.

    7. #31
      Member 88c900t's Avatar
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      The leftover 19 GLI S is $326 including gap insurance. This was one of those "0 down 0% 72mo" deals that VW was running for a while, and even the warranty is 6/72. It was 22,500 OTD.

      It replaced my first loan, my 2017 Focus ST st2 I bought in 11/2018 with 27k miles for $18,500. The loan was terrible because my bank was terrible-6% interest despite promising me 4. It was a long, painful process and the payment was $409. I got 12.5 on trade in which was pretty good considering a different dealer was 9600 and it's true market value was 14 or 15K-this was also in April when the economy went to isht.
      I gave up dailing old and rare cars and became a normie.
      Quote Originally Posted by Burnette View Post
      Gear Patrol, which has as much cred as Paw Patrol
      Quote Originally Posted by l88m22vette View Post
      88c900t wins again, you really ****ing crush it at listing a ton of cheap options
      Quote Originally Posted by volvohutter View Post
      You'll always get a pass due to your history of owning classy and sophisticated automobiles

    8. #32
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      Quote Originally Posted by puma1552 View Post
      1 in 3 houses paid off in the land of leveraging to the hilt? i somehow very much doubt that statistic
      that about right. 70 percent of people in a home in the US have a mortgage. Its really scary to think that only 30 of US home owners actually have them paid off. I would imagine each year that number decreases.

    9. #33
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      We are at zero currently on two cars. We will pick up a payment next year as my son is turning 16 and will get my wife's SUV and she will move into something new to us as they say.

    10. #34
      Member The_Real_Stack's Avatar
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      Quote Originally Posted by Mr Roo View Post
      that about right. 70 percent of people in a home in the US have a mortgage. Its really scary to think that only 30 of US home owners actually have them paid off. I would imagine each year that number decreases.

      My new mortgage is 2.875%. I’ll ride that bitch for all 360 months. Why wouldn’t I??
      Quote Originally Posted by Volkl View Post
      My wife wanted a SUV with a manual transmission. I suggested a Wrangler, she said no way, too masculine

    11. #35
      Member Stevo12's Avatar
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      Of the 3 cars we've had payments on:

      -2013 Mazda3 - $4k down, $240/mo @ 0% financing. Paid this off a little early because the wife didn't want the payment hanging over us (even though it's at 0%...trust me, I tried)
      -2014 Nissan Frontier - $2k down (had to pay off some neg. equity on a lease I was getting out of) - $470/mo payment. Paid this off in about 4 years by throwing extra at it each month. I think we were at $600/mo at one point, highest to date.
      -2018 Toyota Camry. Traded in the Frontier, $1K down financed the rest. Couldn't put down any more because TFS needed a minimum of $5K loan amount, so that's what we did. Our payment is $123/mo

      In the current fleet, we have 2 paid off (Silverado and Outback) and the Camry....so I guess our current average is $41/mo

      Quote Originally Posted by Mr Roo View Post
      that about right. 70 percent of people in a home in the US have a mortgage. Its really scary to think that only 30 of US home owners actually have them paid off. I would imagine each year that number decreases.
      Depending on the source of that statistic, I'd like to see what the breakdown or the actual reported numbers are. I wonder if the numbers get skewed by scenarios like 2nd homes, investment properties, and such. It wouldn't surprise me if that didn't change much, especially since millenials (who ruin everything) have a much higher debt/income ratio - not to mention high RE values - than generations past...meaning a lot more of them have taken on mortgages when they buy their first home.
      Last edited by Stevo12; 09-14-2020 at 09:23 AM.

    12. #36
      Senior Member 6cylVWguy's Avatar
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      All of our cars are paid off except for the jeep, which is about $1k/mo. That vehicle will be paid off by the end of 2021.

    13. #37
      The only car payment I have is the Atlas CS, somewhere in the mid $500's.
      "keep it between the mayonnaise and mustard"

      ford x8 (mustang x4, thunderbird, lightning, svt focus, fiesta st)
      chevy x1 (2500hd)
      vw x1 (atlas cross sport) "I bought it"

    14. #38
      Member Maximum_Download's Avatar
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      Quote Originally Posted by Tommietank View Post
      This is just to get descriptive data from our group here. The other day I read that about 33% of US single family homes are paid off, which got me thinking about our cars. How many of us have no car payment, and those that do, how much is it. Do not include insurance, fuel, maintenance. Just monthly payment including leases. Not judging here, just wondering for the poll.

      Personal note: In my car group of friends, we keep thinking $300 is a good monthly payment that number has been the same for years and years. As we age, $300 isnt going to cover much. And now the average auto transaction price is something like $33,000.
      Ehh, hang on here a minute.

      That IS part of your monthly payment to have a car. It's also another reason why I lease, especially the maintenance part. It's easy to come in here with a paid off POS and brag you don't have a car payment, but if you are daily driving a Mk4 Jetta and draining your checking account every month buying parts and fixing it up, that's a real cost, with real impact to your wallet. Further, what is your time worth? I don't want to spend what little free time I get under a car. I want to be ENJOYING the car.

      The Highlander is leased and I am in the lower $4s on that. The boat has 6 months to go and I am also in the 4s for that.

      Once the boat is paid off, I will only have a leased car payment.
      Last edited by Maximum_Download; 09-14-2020 at 09:40 AM.
      Matt
      2018 Toyota Highlander SE AWD, Midnight Black Metallic/Black
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    15. #39
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      Quote Originally Posted by Mr Roo View Post
      that about right. 70 percent of people in a home in the US have a mortgage. Its really scary to think that only 30 of US home owners actually have them paid off. I would imagine each year that number decreases.
      Is it really? A huge amount of the people with a mortgage may have several hundred thousand dollars of equity in an up-to-date house in a desirable place, while a huge amount of people with paid off houses may be mostly broke in a dump that needs a ton of work in a crappy town.

      Anyway, our monthly payments average about $500. A cheaper one that is a purchase about 30 months into a 60 month term, and a more expensive lease with maintenance included.

    16. #40
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      Quote Originally Posted by Maximum_Download View Post
      That IS part of your monthly payment to have a car. It's also another reason why I lease, especially the maintenance part. It's easy to come in here with a paid off POS and brag you don't have a car payment, but if you are daily driving a Mk4 Jetta and draining your checking account every month buying parts and fixing it up, that's a real cost, with real impact to your wallet. Further, what is your time worth? I don't want to spend what little free time I get under a car. I want to be ENJOYING the car.
      Well, thread is about car payment which is a single variable. If you bring maintenance into it, sure it's important but now you're starting to talk TCO and have added a variable. And if we're talking TCO then we should bring fuel and insurance in which are three and four.

      All of those things are highly variable, perhaps none moreso than maintenance costs. As someone that can wrench and has all the VW tools, I could keep a Mk4 Jetta running on junkyard parts with my own labor for next to nothing (a whole longblock for those is what, $200?). It's not a waste of my free time, I like wrenching and hanging out in the garage and it's a big part of the hobby for me. Conversely, my mother who only ever uses dealers for maintenance would probably exceed the value of the car yearly.

    17. #41
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      Golf R - It's a lease at $560 a month, 0 down.
      Cayman - cash money baby! I couldn't justify going into debt for a pure toy.
      Wife's 2015 Golf - paid for. It was financed at $400 a month for 4 years, has been paid off for a year and half now. It's in the magic zone where it's paid for and hasn't yet needed a repair, including on wear items. As far as cheap cars go this one has been great for us. Wife is thinking of handing this one down to the kids, assuming our daughter can master the manual, and leasing something nice.

    18. #42
      Member The_Real_Stack's Avatar
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      Unless you drive something that’s a total crappile or really high performance, maintenance is pretty much a non issue. In the first hundred thousand miles, a car needs probably a set of brakes for ~$800 and a set of tires for about the same. And probably an oil change every year for around $80-100 and probably $80-100 of “misc” filters, fluids, etc. So if we’re talking 10 years for 100k miles, that’s ~$80x4/yr, $320, $27/mo. BFD.
      Quote Originally Posted by Volkl View Post
      My wife wanted a SUV with a manual transmission. I suggested a Wrangler, she said no way, too masculine

    19. #43
      $0, but it’s a product of timing. My wife’s car is a ‘13. It’s an Acura, so it probably has tons of life left. But she’s going to want an upgrade in the next several years. We won’t pay cash.

    20. #44
      Turtles walk slowly, but get angry fast! Smooremin's Avatar
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      Quite weighted for me. I have one that is extremely cheap and one that is not. So it averages out to be sorta high, but not really indicative of what I spend...
      Quote Originally Posted by patrikman View Post
      Asking OT for relationship advice makes about as much sense as asking TCL what car to buy.
      Quote Originally Posted by ChillOutPossum View Post
      About 5 oclock I realized I needed to go to Costco for some white people stuff.

    21. #45
      Member masa8888's Avatar
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      Quote Originally Posted by The_Real_Stack View Post
      My new mortgage is 2.875%. I’ll ride that bitch for all 360 months. Why wouldn’t I??
      Exactly. It's only scary if those with a mortgage got the house at the peak of the market, with a 0% down FHA loan, paying PMI, and relying on a single shaky source of income to make the monthly payments. If you got in at a good time, put 20%+ down, and are in a position to quickly sell the house if needed and come away with equity, then it's a low risk situation.

      For depreciating assets like cars, I prefer not to have debt / monthly payments. 3 of our cars are bought with cash while the 4th (Q8) is an assigned company car.

    22. #46
      Member 2 doors's Avatar
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      3 cars, own 2 outright (paid off the VW, Sequoia was a cash purchase). Pay ~$350/month for the Accord, but since you said AVERAGE, it's only $115/ month/ car! Like the OP, $300-400/ month is where we're comfortable, but with the rising cost of cars, I don't know how long we can sustain that.

    23. #47
      Senior Member LT1M21Stingray's Avatar
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      Quote Originally Posted by Iroczgirl View Post
      Zero dollars.
      This.

      Cars are a liability. I'll stick with older paid off cars.
      Quote Originally Posted by Mk1Madness
      Back when making your car faster and better handling was the big thing.
      Quote Originally Posted by Tavarish
      The car's best safety feature includes ejecting you in the moment of impact and wishing you the best of luck.

    24. #48
      Member rich!'s Avatar
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      Quote Originally Posted by JackStraw79 View Post
      Is it really? A huge amount of the people with a mortgage may have several hundred thousand dollars of equity in an up-to-date house in a desirable place, while a huge amount of people with paid off houses may be mostly broke in a dump that needs a ton of work in a crappy town.
      this is true.

      "Some 38% of owner-occupied households in the U.S. are completely paid off, and mortgage-free homeownership is even higher among low-income families and in small cities with low housing costs, according to a new study.
      Surprisingly, mortgage-free living is more common for homeowners who make less than $25,000 a year. Some 54.5% of low-income Americans have paid off their homes, outpacing the national average by 16.5 percentage points, although they are less likely to own a home overall, according to the study. Meanwhile, homeowners with a six-figure salary tend to face higher mortgage payments relative to their income.
      Small- and mid-sized metro areas outperformed the average. In mid-sized metro areas with under 350,000 residents, like Odessa, Texas and Charleston, West Virginia, 49.2% and 47.5% of homes are paid off, respectively. Housing costs represented only 16% of income in each city, about half of the threshold to be considered burdened by housing costs. "

      ---


      have no car payments, we decided when buying new to just pay them off since wasn't anything special. (did take a loan for 90 days to get another 1k off)

    25. #49
      Geriatric Member absoluteczech's Avatar
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      my mental limit regardless of income has always been $400.

    26. #50
      Member adrew's Avatar
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      Quote Originally Posted by The_Real_Stack View Post
      My new mortgage is 2.875%. I’ll ride that bitch for all 360 months. Why wouldn’t I??
      Depending on your tax situation, paying it down early can save a lot on interest.

      If you have a $350k loan...

      30 years = $172k in interest
      25 years = $141k
      20 years = $110k
      15 years = $81k
      Improving the signal-to-noise ratio

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