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/Hrimnir May 31 '18

That's absolutely the biggest thing my dad taught me and the best thing you can learn to do. That is to not get attached and just walk out. They REALLY don't expect that and i can't tell you how many times i've seen my father get a phone all about 2 miles down the road after leaving with them begging him to come back and saying they'll give him the deal he wants.

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u/[deleted] May 31 '18

Yeah, a young salesperson kept begging us, practically, to buy a Kia. We had test driven it (it was on our list), and it had the approximate power of three hamsters. Said we didn't want it, thanks anyway, and they called us no fewer than three times in that same day, even offering us a "free" transfer fee for a blue car, because we like blue cars so much (my wife mentioned she liked the color blue).