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That is ridiculous.

Archive: https://archive.today/pEVgg

From the post:

>A lot of us grew up in a world where a car payment that could rival a mortgage was the domain of luxury-car buying. These days, the gap in finance costs between the two appears to be shrinking rapidly for everybody. At the end of Q3, the average monthly new-car loan payment in the United States ticked up to $748. Says who? Some random finance company you’ve never heard of? Ah, no. This time, it’s from Experian—the folks who can see your credit reports. I’m going to go out on a limb here and say their data on this sort of thing is probably pretty good.

That is ridiculous. Archive: https://archive.today/pEVgg From the post: >>A lot of us grew up in a world where a car payment that could rival a mortgage was the domain of luxury-car buying. These days, the gap in finance costs between the two appears to be shrinking rapidly for everybody. At the end of Q3, the average monthly new-car loan payment in the United States ticked up to $748. Says who? Some random finance company you’ve never heard of? Ah, no. This time, it’s from Experian—the folks who can see your credit reports. I’m going to go out on a limb here and say their data on this sort of thing is probably pretty good.
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[–] • 1 pt (edited )

That is ridiculous.

First I was thinking it wasn't that bad, then I realized this is for a 6 year loan.

And then there are the people that lease. Co-worker leased a Honda Pilot, 470 a month and 5k due at signing. What a waste of fucking money. After 3 years, you're left with nothing. Sure leases are fine if you have wealth and want a new car every three years, but leases have become a financial trap for working class people who insist on driving something above their station.