Babies: 0 - 3 Months

what's the average car payment?

$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.

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Re: what's the average car payment?

  • If you are buying I would assume 500 or so.
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  • We are paying $325 for a '05 Expedition.  We bought it used. 
  • It would depend on what kind of car you are getting.

    Mine: 250

    DHs: 330 

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  • 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.
  • I pay $400 a month. I have a GMC Envoy
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  • 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.
  • 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.
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  • We just bought a new vehicle.  Our payment is $478.
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  • $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.
  • imageFish4Fun:
    $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.

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  • 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.
  • imagebargar18:

    imageFish4Fun:
    $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! 

  • imageFish4Fun:
    imagebargar18:

    imageFish4Fun:
    $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! 

    It did come off a tad condescending. 

  • 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.
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  • 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!
  • I have an 08 Honda Civic and its 299/month
  • 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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