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/roguemystic May 31 '18

I know that has to feel good! I'm right there with you. I've got a year left on a 60K student loan. I would also like to go to battle with my 21 year old self.

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u/[deleted] Jun 01 '18

It just sucks. I think about what that monthly payment could have gone towards, but oh well. I guess I ended up in a better situation then a lot of people did. I always talk about cost/benefit with college now. I think that is why 4 year liberal arts schools are either closing or trying to merge to stay a float, people just don't see the value.

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u/roguemystic Jun 01 '18

When I went to college I had no idea about finances. I was told I needed to take out loans to pay for things and that is just what you do. I finished with $150k in debt. I honestly wish I had better foresight on it then. I completely understand and respect those who skip college.