what's the average car payment?

bargar18 · July 2009

$200's? $300's?

we're looking for a new car for DH because his is WAY too expensive and a gas hog. i know what we can afford, but i'm not sure what is reasonable for a car payment...i think my judgment is skewed because his current car payment is so expensive.

MamaMyers22 · July 2009

If you are buying I would assume 500 or so.

laurenshay · July 2009

We are paying $325 for a '05 Expedition. We bought it used.

rachi · July 2009

It would depend on what kind of car you are getting.

Mine: 250

DHs: 330

me&mymonkey · July 2009

I just bought a used 2004 VW with awesome financing and my payment is $255 a month. For new cars I would guess $350 and upwards.

Noelle2375 · July 2009

I pay $400 a month. I have a GMC Envoy

evenstar622 · July 2009

Depends on the car. If it is just a normal boring sedan, $200-300 is probably about right (if you have decent credit). If you are looking for a larger car or SUV, think in the $500's.

Jennilynn · July 2009

It depends on how much you are putting down & what interest rate you get & how expensive the car you get is. Buying a used Honda will be much different from a new Lexus. That said- when DH and I bought a new-used truck for work I think the price tag was about $21 K and we paid about 400/month. We had a nice down payment though.

AshleyKass · July 2009

We just bought a new vehicle. Our payment is $478.

Fish4Fun · July 2009

$0 here for both DH and myself. I think buying a car with a loan is one of the stupidest financial things to do, unless you have your cash invested in an asset earning higher interest than you would pay on the loan.

bargar18 · July 2009

Fish4Fun:
$0 here for both DH and myself. I think buying a car with a loan is one of the stupidest financial things to do, unless you have your cash invested in an asset earning higher interest than you would pay on the loan.

thanks for your input, but that wasn't my question.

jamie.renee · July 2009

We pay $445 on a used car. We pay so much because we decided to do a super short loan so it will be paid off before we leave Germany. Plus, we want to pay as little in interest as possible.

Fish4Fun · July 2009

bargar18:
Fish4Fun:
$0 here for both DH and myself. I think buying a car with a loan is one of the stupidest financial things to do, unless you have your cash invested in an asset earning higher interest than you would pay on the loan.

thanks for your input, but that wasn't my question.

Ok then. Zip it!

MamaMyers22 · July 2009

Fish4Fun:
bargar18:
Fish4Fun:
$0 here for both DH and myself. I think buying a car with a loan is one of the stupidest financial things to do, unless you have your cash invested in an asset earning higher interest than you would pay on the loan.

thanks for your input, but that wasn't my question.
Ok then.

It did come off a tad condescending.

webMistress0609 · July 2009

I bought a used BMW last summer, paid $17k & have a 350 payment. I used to sell cars - expect to pay 20-25 per $1000 financed. So a $20,000 loan will have a $400 -ish payment. Most new sedans are around 20-25k.

SassyRidge · July 2009

I can't imagine paying over $500 a month for a car payment. If you payment is that high, then you probably do not have money saved for a down payment and thats a good indication that a high payment like that is going to really be stretching your finances. That being said, what ever you do, I wouldn't let them finance it for longer than 5 years (60 months). Vehicles depreciate very quickly!

WaitingforOlivia2009 · July 2009

I have an 08 Honda Civic and its 299/month

leslienpete · July 2009

We pay $350 for a 2007 Expedition. I used to pay $360 for my 2001 VW Jetta. We obviosly got a way better deal on the Expedition.

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