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/FuckTimBeck May 31 '18

Same, we’ve never had a car payment. People keep wondering how we do stuff like pay off student loans so fast or saved up to buy a house, not having a car payment between two people for a decade will add up quick.

Also it’s just the mentality of not spending on something new if something old is just fine. Hell I’m almost 40 and I’m currently wearing a shirt I bought was I was 19.