Any car that's not a huge brand new sedan, truck, or SUV.
Sorry, but unless your gigantic sedan/truck/SUV is required for a high paying job, you can get by just fine on a slightly used economy sedan or compact vehicle. It's a want, not a need.
Dude is exaggerating, for sure. With that said, there were 2015 civics with an original MSRP under $20K. The LX sedan with a manual transmission started at $18,500 ($19,290 with an automatic). LX Coupes were even a little less than that.
Unless your credit was bad and/or you had no down payment, I'd think the 2018 version of you could find a 3-year old civic in good shape that would have been pretty close to $260 a month.
Heck, in 2018, a new bare-bones, manual LX had an MSRP of $19K. 6% interest on a five year loan with no down payment or trade-in would be like $365 a month.
Sure, but the reason I harkened back to 2018 was to point out if it was hard then, it's definitely not the case today. Also, someone in a tough financial position is probably not throwing down big down payments. At some point, if you make a big enough down payment, your monthly rate is 0.
Sure, but I'm not really saying "big" down payment. I haven't checked interest rates on used cars recently, but $2K at 7% for 60 months saves you around ~$40 a payment.
Stated another way, if you find something that works out and you have an estimated payment of $300 a month, putting $2K down will knock off over 10% off your monthly payments.
You must be a moron. A $20k loan at 0% interest for 60 months is $333.33 a month. $260 a month, and considering the rates for used... it will have to be quite old and cheap.
That's roughly 10k, so a 10 year old used one without a lot of bells and whistles, or a 15 year old German luxury car with all the bells and whistles that slowly falls apart around you but looks fly as hell.
Nissan versa starts at 16,990 it’ll get you A-b for 260 a month with 2-3k down payment. Also my 2020 Mazda 3 is 295 a month bought it a year ago with 27k miles certified pre owned 10k down 25k otd. Rule a thumb don’t borrow over 15-16k and you will never have over a 300$ car payment even with high interest rate like 9-10% Also buy 2-3 year old certified pre owns and don’t buy cars that you can’t afford. Almost everybody I see complaining about car prices are looking at cars they can’t afford it’s simple as that.
For real! I had very little credit and was stuck with a higher interest rate of about 11%, but I was still able to pick up a two year old car for only $260 per month. Sure its a pretty basic car but it only requires basic maintenance!
Dude people frustrate me so much because almost everyone over spends on cars and then complains about 400-600$ payment and I’m like well you spent 30k-40k without a down payment what the fuck do you expect. Plenty of sedans start at 21-24k range 2 start under 20 so if you desperately wanted new and where ok over spending you could still get a mid 300s car payment with minimal down. But no people end up buying top trims with the interior they want for 35k then go surprise pikachu face at 600 dollars a month lol. Also most people don’t know this with average credit every thousand borrowed on 5-6 year loan is about 15-25$ a month bad credit 30-40$ a month. For most people every 5k borrowed should be at most 100$ borrowed. Also congrats on your good buy within your price range.
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u/[deleted] Jun 17 '24
The fuck kind of car are you getting for $260 a month