Does It Make Sense

[ERinger]

to have a monthly car note of $500 or more, whether you can afford it or not?

People know, or at least should know, that cars are notoriously bad investments. So why willingly let someone rip you off?

I have a cousin who is paying $570 a month for a Nissan Altima. I won't even factor in insurance.

I mean no matter what kind of car it is, you're still going to end up paying more money than it's worth.

[HulaSista]

i don't agree with it for myself. that's a lot of money that is going out the window when there's a cheaper (and probably better) car out there i can drive.

[Tastey]

In my opinion you should never get into so much debt that if you were to get sick or unemployed you could not handle it.

That's what too many people do. They get a 500+ car payment because they have a good job, get sick, can't work and end up losing it. Or they get laid off and there's no way to make those kinds of payments on an unemployment check.

People think in the moment, and to me it makes no sense whatsoever.

[Andre98]

First off, somebody saw your cousin coming with that Altima. If it is car payment on a purchase agreement, the dealer always makes it look like your credit only allows a certain interest rate, and depending on the size of the down payment, the monthly bill can be a real ripoff. An Altima is not a real flashy car, it shouldn't be that high per month. That Altima better have the remote starter, some rims, and bomb ass CD changer and sound system, hell be able to valet itself at restaurants. I hate how they always advertise a real low rate, and then have the "well qualifed" disclaimer and all the fine print that pretty much spells out how impossible it is to get that rate.

When we leased, we kept harping on how they advertised a certain rate, and if they didnt have the model that qualified for that rate, isn't it deceptive advertising?

True, you are going to pay more money than it's worth no matter what.
A 1996 Envoy basic package, 2,500 down, we have a 36 month bill of $349 and one year of that is now gone. Keep in mind, a lease does not cover the entire cost of the car. If your cousin's was a purchase, the amount per month is also affected by how many months they are paying for. Have a lo down payment, and try to lump that purchase price into 36 months you are paying a big bill. If it's a 48 or 60 month deal it should be lower, but who wants a 5 year car note?

[que90nek]

it's all in perspective...

my car note is 900 plus...

wife lost her job and my business slowed

but God has provided and i still have my truck.

my point is that ....it's all relative....i wouldnt recommend having a heavy car note unless you have a home.....not an apartment. but then again.......i can see the logic in having a big car note....and less OTHER bills.