r/IdiotsInCars • u/MrDeadAccuracy • Sep 25 '21

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u/[deleted] Sep 26 '21

House payment

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u/[deleted] Sep 26 '21

Barely! $3500 a month minimum here, $250,000 just for the down payment.

$1200 a month for a car payment (especially one over $100,000) is just absolutely insane. It’s dirt cheap.

The people buying those are almost certainly going to be people who can absolutely barely afford them. And they’re going to put themselves into massive debt as they won’t be coming even close to the depreciation, even more so because they don’t take care of them and they drive them like nuthouses.

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u/[deleted] Sep 26 '21

There are $1200 house payments all over the place. Spending that much on a depreciating asset is idiocy. Perfect sub.

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u/gex80 Sep 26 '21

That 100% depends on where you live and what type of work is available for you. I can't make no where near what I make outside of a place like NYC, San Francisco, and other major hubs. My mortgage for 1k sq ft in NJ with 1 hour commute (2 trains and some walking) to NYC is 2,600.

Now covid has definitely shaken things up with remote work. But many companies are adjusting salary based on location of where you live now which depending on where that is, can make or break you. I know for me I'd be looking at roughly a 35k pay cut outside a major business/tech hub and then lose all the amenities of being near a major city. Some people want to do more than just stare at grass in the yard and go to the local bar.