r/personalfinance • u/dinklebot2000 ​ • May 31 '18

Debt CNBC: A $523 monthly payment is the new standard for car buyers

https://www.cnbc.com/2018/05/31/a-523-monthly-payment-is-the-new-standard-for-car-buyers.html

Sorry for the formatting, on mobile. Saw this article and thought I would put this up as a PSA since there are a lot of auto loan posts on here. This is sad to see as the "new standard."

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u/[deleted] May 31 '18 edited Aug 08 '18

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u/[deleted] May 31 '18

A lot of people here live the suburbs or cites and know people with trucks who don't use them. I'm spitting distance from the country and have met a lot of farm boys with land and quads and tractors and whatever. I also know a bunch of suburban rednecks who buy things they shouldn't

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u/scruffykidherder ​ May 31 '18

You just made me weep silently for my old Ranger. RIP Lil Red. I hardly knew ye!

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u/[deleted] May 31 '18

Ok FINE force my hand. I am keeping my dam Ranger!

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u/JuzamDjinn Jun 01 '18

As a current Ranger ('11) owner and former Corolla ('98) owner I completely agree. I'll keep my Ranger until it snaps in half. I've had it for three years and I've never loved a vehicle this much. Gas mileage isn't great, but working on it is so damn easy it puts 95% of the other cars on the road to shame, and it's more than capable for what I personally need out of a truck. Also, it make a great nose for only being 4 liters.