Correct, and half of people pay below the average. You do not need to pay $700/mo for a car, many are available for much, much cheaper. If your finances can only swing $400/mo, buy a $400/mo or a $300/mo car.
I am not sure what that has to do with what I said.
I guess it reinforces what I said? If they cant afford an emergency, why are they getting into more debt? Maybe if they didnt take out the car loans in the first place they could…
You don’t need to spend $700/mo to get a car. Spending that much is a choice you are free to make, but still a choice in the end.
https://www.nerdwallet.com/article/loans/auto-loans/average-monthly-car-payment
Correct, and half of people pay below the average. You do not need to pay $700/mo for a car, many are available for much, much cheaper. If your finances can only swing $400/mo, buy a $400/mo or a $300/mo car.
But I need a 3500 series truck in case I go camping or I have to move a mattress!
Maybe, but the average car payment for people who don’t take out loans to buy cars is… Zero.
42% of Americans cannot afford a $400 emergency.
I am not sure what that has to do with what I said.
I guess it reinforces what I said? If they cant afford an emergency, why are they getting into more debt? Maybe if they didnt take out the car loans in the first place they could…
Used Buicks from the 2000’s can be had for around 3 grand and are very reliable if they have the 3.8l engine. Insurance is often less then 400 a year.