(Closed) How much are your car payments?

posted 5 years ago in Money
Post # 3
Member
14568 posts
Honey Beekeeper
  • Wedding: June 2011

We bought a CRV and was going to put 10k down, so the payments would have been about $260 a month.  But but we decided we didn’t want to have any monthly payment so we paid the rest off ($15k) just picking it up.  Darling Husband is still driving a car he got in 1998 for 3k that *knock on wood* hasnt needed anything other than its regular scheduled maintenance and oil changes.  He’s certainly got his money’s worth out of that car!  We hope it’ll last another year or two until we have enough to buy his car outright also.

 

 

 

 

 

 

 

Post # 4
Member
822 posts
Busy bee
  • Wedding: May 2012

I’m still driving the car that my parents bought for me.  I’m keeping my fingers crossed that it will last forever because I don’t want a car payment.  I know several of my friends pay $400-$700 per month for their cars. 

Post # 5
Member
2188 posts
Buzzing bee
  • Wedding: March 2024

I bought a Equinox last year and it was $32k, I put $9k down and financed $23k, I pay $350/month and I hope if I get a raise I can pay more on it each month so it’s paid off sooner.

 

Post # 6
Member
4495 posts
Honey bee
  • Wedding: October 2013

When I bought my Jeep I put $5,000 down and my payments were $328. A coworker of mine had a 3 year old car that she had bought brand new. Well, she decided she was tired of the color and wanted a new car. Instead of selling it or trading it in she gave it to her 15-yr-old niece (the car is now totaled) and did not even put one dollar down on her new Toyota – nothing. zero. Her payments are $750!! That, to me, is insane.

 

Post # 7
Member
1619 posts
Bumble bee
  • Wedding: September 2011

We just bought a 2012 Ford Focus in December and we love it.  We paid 8K down and financed 7K for 36 months and our payments are $250 a month.

Post # 10
Member
457 posts
Helper bee
  • Wedding: February 2013

I pay about $240 a month for my Yaris after putting down $6k.  My first car was about $350 a month but that was before I moved out and had rent and grown up responsibilities. haha.  I knew a person that spend over $450 a month. Ouch! 

@adoc86:  $750??  That’s crazy.  

Post # 11
Member
3943 posts
Honey bee

Ive been paying $330 for almost 6 years. It will finally be paid off this summer and I plan to drive it for as long as possible.

Post # 12
Member
3078 posts
Sugar bee
  • Wedding: October 2012

I’m currently leasing a 2012 Nissan Rogue.  I didn’t put any money down (Never put money down on a lease!!!!), but I did have about $500 in positive equity from my trade.  I pay $288/month.

Post # 13
Member
3227 posts
Sugar bee

Darling Husband was driving a civic and we expected it to last another 2-3 years. It just died on us. We got a 2008 Mini Cooper S for around $15k, added the 5 year maintenance plan for around $3k, put $4k down, and had an interest rate of 4.19%. Our payments are $290/month for five years. We try to pay around $350/month though.

When I was younger, I financed $19k for a Corolla S. My payments for 63 months were $330/month with a 7.9% interest rate. I managed to pay it off a year early.

Post # 15
Member
922 posts
Busy bee
  • Wedding: September 2013

Mine on a brand new Explorer (nothing fancy and no money down) were $536 a month. I had no credit history at the time, just started my first job. I paid it off 2 years ago now.  Fiance is going to need a new vehicle soon, so we are trying to figure out how much now we can afford to spend on a car payment a month.

Post # 16
Member
488 posts
Helper bee
  • Wedding: October 2013

I bought a 2007 G6 (2 years ago this month) and traded in my Grand Prix. I only owed about $1000 on the Grand Prix and they gave me $2000 for it. I think my car was around 12k when I bought it…and because I had a poor credit history and didn’t want a cosignor I had sky high interest at about 19%. My payments then were $324/mo. I refinanced 7 months later at 9% and my payments are about $270/mo. I owe around $10,000 on it after paying on it for 2 years.

 

It does feel like foreeeevvvver but I keep reminding myself that the further I get, the more principle I will pay and less interest so the number will start coming down more and more after the end of this year.

ETA- and when my car is paid off (hopefully earlier than 2016 when the loan should be paid off) we will take on a new car payment unfortunately. Fiance has a truck which we want to keep, but with him driving further to work now it is horrible on gas. He will take my car and we will most likely buy a new fuel efficient car that I will drive.

 

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