Whoa, Nellie! Avg monthly payment > $700.

[chtucker]

Different folks different situations. Some people a Bronco payment is 25% of their monthly income, some people it is is less than 5%

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[kodiakisland]

Usually, people bitch about Californians moving in to their neighborhood.

I thought you’d feel the sarcasm.

For reference, my family is from LA.

 

[kodiakisland]

Nissan Versa is the least expensive new vehicle one can buy in the US, starting at $15,380.

Even comes with a stick shift and crank windows at no extra charge.

At one time it held the distinction of having the highest fatality rate of any vehicle on US roads, so there is that.

 

[mybikeisred]

I thought you’d feel the sarcasm.

For reference, my family is from LA.

Thought so, but people do get excited by someone overpaying in their neighborhood and raising property values.

 

[calgecko]

the glacier pace that Ford is operating at with the Bronco launch, has allowed me to put more aside for a down payment than any vehicle I've ever owned - EVER. I've got over 20k put aside for the Bronco, and I should have about $15k equity in my current vehicle, and I've got close to $10k in a stock account that I've been playing with, with the sole intent of it being part of my bronco fund too - so all together, I'm going to have over $40k to put down on this truck (which will be the most expensive vehicle I've ever bought, by nearly double)... I'm KIND of glad this process has dragged on as long as it has, to allow me to prepare like this.

 

[kodiakisland]

Thought so, but people do get excited by someone overpaying in their neighborhood and raising property values.

That is true, and if I had my retirement home ready, I would be. All it probably means for me though is increased property taxes, again. I’m not planning to move for at least 6 more years from now.

 

[BQH2010]

Nice little uptick at the end.

Hmmmm….Seems like I’ve seen a spike like that before. Not A Joke.

 

[Phil]

The average monthly car payment crossed $700 a month earlier this year, the highest on record, according to Cox Automotive/Moody's Analytics.

"I joke with people that every new car purchase is a luxury car purchase, I don't care what you're buying," says Ivan Drury, senior manager of insights at the car buying expert Edmunds. The average cost of a new car is hovering at the highest level on record, topping $47,000 a pop.

Drury says get used to these prices: "We're not going to see a sudden drop-off in price anytime soon, because there doesn't seem to be any resolution for the chip crisis."

Will this put a damper on the market?

How much is the average monthly fuel bill ? some of these bro trucks I see cruising around have 36 gallon tanks that's almost $200 per fill up They *must be crying when they hit the gas station

 

[Phil]

That's just not smart finance. Sounds like people are buying out of their income range to me. I think a lot of people got new jobs plus stimulus payments, and thought the good times would last forever.
I bet correspondingly, repos are up too

There's are plenty of sub 30k cars to drive, but why would you when they give away credit?

People are pulling equity out of they homes at a pace similar to the last housing crash some people going to be hurtin when the bill comes due

 

[Osky305]

The average monthly car payment crossed $700 a month earlier this year, the highest on record, according to Cox Automotive/Moody's Analytics.

"I joke with people that every new car purchase is a luxury car purchase, I don't care what you're buying," says Ivan Drury, senior manager of insights at the car buying expert Edmunds. The average cost of a new car is hovering at the highest level on record, topping $47,000 a pop.

Drury says get used to these prices: "We're not going to see a sudden drop-off in price anytime soon, because there doesn't seem to be any resolution for the chip crisis."

Will this put a damper on the market?

Yeah people buying out of their income bracket. Whats worse a recession is coming so I'm willing to bet some of us here in the forums will be kicking themselves within the next 12-18 months. I guess if you can get the rate at a low rate and invest in something that gives out more than you pay in interest than maybe but at the same time a $700 car payment is not good especially if that doesn't account for insurance , accidents , and overall wear and tear. A vehicle is a luxury , a bronco is 100% a luxury . I hope everyone here has a rainy day fund. This next year is going to be a wild one

 

[Kramku1]

I put 36k down 3% interest on 6k over 3 years gas was 2.35 gallon when ordered with recession knocking on the door still has you a little worried

 

[AZ_Liberty]

How much is the average monthly fuel bill ? some of these bro trucks I see cruising around have 36 gallon tanks that's almost $200 per fill up They *must be crying when they hit the gas station

My Expedition has a 34 gallon tank. It's awesome. I can fill up in Yuma, drive to San Diego, drive back, and not once buy gas at California prices.

Who cares if it costs twice as much to fill up when you only fill it half as often? That's the one thing that is truely going to really suck about my Bronco if Ford ever builds it, the itty bitty tiny-ass 16.9 gallon tank.

 

[Sherminiator]

At one time it held the distinction of having the highest fatality rate of any vehicle on US roads, so there is that.

Smaller/lower end vehicles are often bought by newer or no so great drivers (without going into a deep dive about that), thus higher insurance rates that are caused by that.

I had a Focus SVT about 20 years ago and replaced it with a 2006 Mustang GT-my insurance actually dropped $500 a year with the Mustang vs the Focus!

 

[Gulley13]

I read all 8 pages and from what I gather most of you are over 50 and retired! Congrats!

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