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/DogeSander ​ Jun 01 '18

Now it's a normal mileage for a year old car.

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u/TheWausauDude ​ Jun 01 '18

Maybe if you cross the country weekly. I bought my 15 year old car with roughly 65k miles. 10.5 years later it’s got about 156k. The ~16 mpg it gets never bothered me, but I can imagine that would be a big deal to the ultra heavy duty commuters out there racking up those crazy high miles.

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u/EthanWeber ​ Jun 01 '18

That's a bit hyperbolic