How much is your car payment?

mattslady

If you have one - how much is your payment/month?

I'm just curious how much on average people pay for their cars monthly.  We've had a different experience with cars - had company cars, or just paid in cash for previous cars.  We are about to get something else and am trying to decide what I'm willing to pay monthly for it.  I think my idea of reasonable might differ from others. 

ali-1411

We paid them off last year.

Mine was $189 and DH's was $165.

ETA:  I have a 2005 Chevy Impala and DH has a 2001 Ford Explorer

MommyofAlissa

$285 for a 2005 Pontiac Grand Prix GT for 5yrs, paid $13,9-something.

melmax

Mine is now paid off, but it was $640 a month- BMW 325 xit. (3 series wagon)

CleoKitty

Right at $300/month for a 2001 Honda Odyssey that I bought as a certified used vehicle from the dealership. Financed for 5 years, have 1 year left before it's paid off. Huge mistake. Never again will I finance a car. I'll either pay cash or make do with my current car until I can pay cash (I'll never again buy a new car either, for that matter.)

eclaires

$305

We only have a car payment for one of our cars.  The other is paid off.

I'm cheap about cars - I'm not willing to pay much more than that b/c I don't like having expensive fixed payments each month beyond our mortgage.  If we were paying cash for a car, I'd probably spend more than if we were financing.  Also, low interest rate or 0% would be important to me.

I'm also biased because we get family discounts on all GM cars and all Toyotas [including Lexus].

Mominator

I have a 2008 Dodge Grand Caravan and pay $460/mth.

mattslady

Well as it turns out, I'm cheap about cars too!  I have never before had a car payment.  Either I was a spoiled "kid" whose parents gave them a car, or had a company car, or hubs just bought it for me.  This has made me stupidly oblivious to the cost of vehicles.  I'm actually quite ashamed, so don't bother flaming.

I told DH that I thought we should get something that would be around $300/month.  He laughed at me and told me that none of the cars/models I'd thrown out there that I'd like to get would qualify for that.  Ha!  Seriously, I had/have NO idea how much things like this actually cost.  Now I'm stumped as to what I want to get. 

Jamaica_Bride

On my Ford Edge (2008) it is 325- we put a shitton down on it.

On MH's 2005 Jeep- it's paid off!! WOOT!

eclaires

LOL, I'm obviously the same way.  We talked about a BMW recently b/c I waaaaaaaaant one, and MH was like, "whatever, I know you wouldn't go for the monthly payment."  It's like the one thing I'm cheap on, haha.

And he was right; I almost choked.  

Andrewsgal

We financed my Ford Explorer after my other car was totalled, we only financed $4000 and really only paid two carpayments before it was paid off (with DH's bonus), but they were $149 a month. I am also cheap with cars, and HATE having any type of carpayment. We save money monthly for when either one of our cars dies, but we will drive them into the ground.

My SIL drives a 2008 Acura and pays $500 a month.

butterbeansmama

We have a 2008 Pontiac Torrent suv. Our monthly payment is $422.65 for 5 years (3 years are paid off so far). The cost of the vehicle is around $28,000.00.

Our other car - 2002 Pontiac Grand Am GT is paid for already. Cost of that vehicle is approx. $25,000.00.

We also get discounts for all GM related vehicles.

shopgirl78

300/mo 

DandR

We are cheap about cars too.  One is paid off and the mini-van we pay just under $300/month.  We have one more year of payments.  Then I'd love to go a year or two without any car payments, but keep putting that $300 into an account for a car. 

I have a former co-worker who was about the biggest car idiot in the WORLD.  She was always upside down on her car loans, but would trade it in for something new as soon as there was one tiny problem with the current car she had.  The last I heard (this was several years ago that I worked with her) she was paying a whopping $750 PER MONTH for 5 years for a freaking KIA!!!!!  (not flaming Kia drivers..unless you are paying $750/month to drive it) And she didn't see why that was wrong.  I'm sorry but if I'm paying $750/month for a car, that sh!t better be a sweet ash, fully loaded mercedes or lexus.

mattslady

Example:  I thought I was going to get a new or very newish Volvo XC90 (SUV)  with about 5 or 6K down for about $300/month.  Apparently that was laughable.

penguingrrl

$233.88 for 5 years.  We bought in Feb 06, so we have just over a year left.  It's for a 2006 VW New Beetle and we put quite a bit down (don't remember how much exactly anymore).  We own, don't lease.

lizard76

My car payment is $222 for 5 years. I have a 2008 Hyundai Elantra (and we traded in an old Toyota for it).  My DH's car is $355 for 5 years for a Chevy HHR, but we were upside-down on his previous vehicle (long story) or it would have been lower.

teg

$317, 4 year loan

eclaires

mattslady, that doesn't sound laughable to me, but I think we're the same on this, haha.

Does Volvo do certified used?  I know friends of mine bought a Volvo sedan for a pretty sweet price and it was barely used.  It had been a car the dealership used for people to drive while their car was being worked on.

mattslady

Certified Used?   Yeah, I don't even know what that means.  

eclaires

The dealership deals with it - usually same warranty as a new car, I think.

I know BMW does it.  It's basically a car through the dealership that is very gently used, not through a used car place or private seller.

mattslady

Oh, okay.  Then, yeah, I'm pretty sure thats what DH was going to look at for me. 

I drive a Volvo wagon now and I do love it.  I'd hate to stray from my Volvo love, but I might just do it.  Ya' know - now that I'd actually be paying for it!

Chrisy-Wyobride

Never had a car payment...I always had crappy cars & DH's parents bought him cars.  We finally bought new cars this past 2yrs but we bought them outright...I got a nice one (used but only 7K miles) & DH got an older one w/ like 30K miles.  As long as we have my student loans & the girls school tuition payments monthly we shouldn't really add in a car payment--LOL!

firefightersgal

2 years @ $150/month on my car (almost paid off), 3 years @ $200 on DH's truck.

We have decent vehicles, but they didn't have very big price tags to begin with.

buffalo_buckeye

We have no current car payments, whoo hoo! But, we have old cars. Mh has a dodge Durango (2001); payment was 319$/5 years, and I have a Nissan maxima (1996!). I paid cash for mine back in 2000 and I want another car, but I'm torn between forking out the money each month or just waiting until something happens that's too expensive to be worth fixing (which isn't THAT much, lol). My parents were always cheap with cars (or anything that depreciates in value), and it rubbed off on me. My dad used to get our cars at car auctions.

Dimplz

$156 / 5 years on a 2004 Honda Accord. We got a pretty sweet deal.

triplea1819

305 on a Nissan Altima SL.  Love it!!  we financed 15K.  We bought it used with 6K miles on it!!

 

We are going to trade it in after I get PG for a bigger car and want to have car payments below 400 for 5 yrs.  

amiamish

we have a fully loaded 2004 Tahoe we pay $250/mo for. DH works for a dearlership so we got it at a steal (11k)

PearlieGirl'sMom

We pay $268/mo -- I think we have 2 more years?

Yodajo

They're been paid off for a while, but DH and I both had car payments that were $450 each.  It completely sucked to pay over 1k a month just for cars when you factored in insurance, etc.  I don't ever plan on going back to spending that every month. 

JOEBunny

$0 right now.  The only one I ever had was $700 a month on a 36 month loan.  I paid it off in 6 months though, so it wasn't a big deal.

MrsStubbs

Are you ready for this, I paid cash for my first car when I was 18 95 Honda Civic. I traded it in and then got a new honda accord with 0% interest and my payment was only 150.00. I paid that off and then traded it in on my new car and the company now pays for it.

I am lucky.  

GrowingFamily

$410/ month for my 2007 Kia Sedona.   

 DH's 2004 Mitsubishi Outlander is paid off.

Dougsgirl4ever

https://banking.about.com/library/calculators/bl_CarPaymentCalculator.htm

This will help you find out how much your payment would be.