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I bought a 2016 GMC Sierra last June for $38K which was amazing because the sticker was $54K. Those incentives really sucked me in as I knew I was getting a great deal. This great deal however was costing me $600 a month and though it was a very nice truck I couldn't justify spending that each month just to have a new vehicle. I truly missed the old SUV that I had traded in and I actually tried to locate it but came up empty. I just traded the GMC this past weekend and my trade in was more than what I bought it for so at least I had some equity in it. The SUV I traded it for only cost $16,500 and my car payment has been cut by more than half.
Though it was nice driving a new truck, and even though I was able to afford it, I prefer to have that extra cash to put away into savings or whatever else come up.
That's how I feel too. GM has some great deals on trucks but I think that is their marketing strategy to entice people to buy them. They knock 7-10 grand off the sticker and people say wow that's a great deal and people finance these trucks over 60-72 months at $500-600 car payments.
I would love to own a nice vehicle like that but a $600 car payment even with no debt obligations is a hard pill to swallow for me. I take home $3150 a month and manage to save over $1000 a month with my current budget but if I had a $600 car payment I would only be able to save $300-400 a month.
The thrill of that new vehicle fades away before those $600 car payments end.
Too expensive to me? Anything I can't buy for cash. I don't do payments. And my cash reserves aren't that much. Most I could come up with today would be $2500.
I did payments because they offered me 0% for 60 months plus a $500 financing incentive... although I did have the cash to pay for the whole thing upfront. In my case financing was the better deal.
When an Odyssey can cost $45k, I'm floored. I voted $40k+. I got my first car, a new SUV, for $27k in '95 and that was expensive.
All relative. You are getting a lot for a fully loaded Ody. I personally love the Ody. I know it's apples and oranges but getting a base 5 series or E class Benz for the same cost expensive for something so bare bones value wise
As cars have become more and more expensive I am wondering what you in your personal opinion consider the definition (in $ terms) of an "expensive" car. I know each one will have their own definitions but i'm wondering if one $ range is the most commonly accepted.
My car was a little under $22K (and I love it) and I'm not willing to spend much more than that. So I'd say anything over $25K is too expensive for me.
That's odd then, 90% of Americans do not have $30k sitting in a bank account. How can they afford all these SUVs and V8 muscle cars. Most Americans were to go unemployed for 6 months+ would lose the car and then their house.
Really? I do. Probably because I refuse to buy expensive cars.
Really? I do. Probably because I refuse to buy expensive cars.
You can buy an expensive car and still have money in the bank, by not spending your cash assets on said car. Use other people's money to do it (financing), especially at these low interest rates.
You can buy an expensive car and still have money in the bank, by not spending your cash assets on said car. Use other people's money to do it (financing), especially at these low interest rates.
Yes, you could do that. Or you could choose to finance part of a not so expensive car (which is what I did).
The definition of an expensive car is not in its monetary cost, but whether or not you can afford it, the insurance, the yearly taxes, the upkeep, and gas, based on your income.
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