Why Car Payments Are So High Right Now?

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[ToLoveIsToLive]

My husband and I were paying $1, 400 a month on two used cars and almost 2 years ago we just couldn’t manage anymore. We let the banks take them and we bought an 08 suburban for $2, 300 and an 06 Honda odyssey for $2, 700 cash. We hope to one day be able to have nice newer cars but for now this is what we have to do.

[gregmoyers]

Not just car payments. Anything financed has become expensive.

[jeffreymassey]

Have not had a care payment in 22 years. Still rolling in my 2000 Toyota 4runner, Still running like new money. All that saving went into my retirement. People need to stop trying to keep up with the: Jones. This economic situation is made for the population to work until their dead. Those are the facts. 🤨🤨🤔🤔✅

[SilverWatcher.]

In 2008 I bought a Hyundai accent for 13k no taxes the taxes were included in the 13k exact total. Does that make sense. No power anything. 90hp 4 cylinder
Long story short for 13k I drove it for 13 years that's 1000$ a year. Then a car wreck 😅😂 but now I hear people say my new 80k truck, I'm lo key in my head like you would have to drive that 80 years to get my 1000$ a year number

[stormycat]

I've been shopping for a used car recently. The good news is there are a lot of 3-4 year old cars with super low miles coming off lease that people financed after moving out of cities during the 19. The bad news is these are still 2-3k over what they should be.

[breakthrough]

Respectfully i say if u cant buy a car cash u should be buying the bare minimum dependable used car.

[aldricragnor]

Sticker price i call that the sucker price

[Electronzap]

Good timing for this topic. I got a new economy car in 2013, and didn't drive it a ton, I barely drive it now and am going to keep it until it rusts to an unsafe level. I was wondering a lot this week what I'd have to pay for a brand new vehicle these days. I already concluded that Uber is probably a better deal than a new car since I only work 2 days a week. Working 5 days a week to be able to make an auto payment also means I will have a much larger percentage of taxes taken out of my paycheck, plus more gas I use, etc. etc.

[shawn-wpvs]

Don't let your car and house define your happiness. No debt no stress.

[JasonX]

I'm glad I paid off my car 2 years ago and I bought it brand new in 2016! They keep trying to get me to trade in and buy a new car, but I say hell no!

[Lumpygrits]

I got pretty lucky with the price of the 4Runner Limited Igot last year. Grabbed with 6 miles on it. Actually got a “decent” rate at the time and I’m still paying over $1, 000 a month.
But I do intend on driving it through retirement.
I was taking my son in-law to get his first vehicle ever today. 1 of the lots said “There’s people with a 700+ score staring down the barrel of 16%-20%”.
My son in-law settled on a well maintained 1 owner 2011 Chevy Z71. Ended up putting $8000 down on a $13, 000 truck.
What continues to blow my mind is if the C-word BS hadn’t hit??? That would’ve been EASILY an $8, 000.
Pretty GD ridiculous.

[frederickvalencia]

I have a 780 and i though it was bad credit. Because i carry balance on 1 of my cards. But i only buy my car cash. I never had a car payment. Keep the car clean and maintain

[luckilew]

I have a 740 credit score and they told me my payment would be 1100.

[nicksttrs]

I know i seen a markup on a honda 2023 civic touring
Wheel lock, Trunk Tray, Window tint, splash guards.. Mark up price $1, 999 priced all those seperate for $346 for the Tray, wheel lock and splash guards. No way in heck the window tint $1700. Dealerships can charge what ever the heck they want to... That should come with the car since the MSRP is 32k.. oh and not to mention a extra $1, 200 for destination and handling. Which i get has to be ship by rail/semi but come on 🤣

[MsKimLorraine]

3:20 They will sit on the lots. As long as folks can go to the auction and find a good used vehicle from a used dealer, those new vehicle lots will become graveyard lots; more than the salvage vehicles.

[josephreilly]

Around 2010, all dealerships did dealership pricing.
When the ended, the prices went about 5 to 10 grand over the previous retail price.

[kiekokat]

Love the new layout of your video.. I think you should be the bigger box on the right and your caption to like and subscribe show be lesser. 50/50 size would make the most sense 🤷‍♂️

[perrywebb]

I bought an 06 4x4 Toyota tacoma in 09 and paid it off in 4 years. Ive had it since and ppl ask why dont you buy a new truck? Well i cant afford a 'like new' truck for 700 a month that has 180k miles on it. Or finance it for 120 months and pay and extra 25% in interest over that time. Bump that

[Wrangzilla]

The Jeep dealership across from my office has a ton of 6k makedowns and 3 20% off 2023 Jeeps that still havent sold.

[josephploettner]

Prices and interest are going insane. I'm keeping mine rather than my usual trading it in when the factory warranty expires :)