The_Kat Posted January 28, 2009 Report Share Posted January 28, 2009 Some of you may or may not be comfortable talking bout this, but I'm curious, what do you consider a high vehicle payment? And what vehicle do you have and what is your approximate payment? I'm curious, cause was discussing this the other day at work and was astonished at what some folks pay for their rides. I drive an 05 Chevy 1500 Truck Ext Cab w/v8. 382.00$ month. I consider this a high payment personally. I like to keep it around 275 or below. Quote Link to comment Share on other sites More sharing options...
Gator Posted January 28, 2009 Report Share Posted January 28, 2009 $0 is my payment for the three trucks I have :grin: Quote Link to comment Share on other sites More sharing options...
c_lou Posted January 28, 2009 Report Share Posted January 28, 2009 We have an 06 Expedition that we pay $382 a month on. While I think that's high, it's not something that I can't afford. My '00 Malibu we pay $0 a month. That's why I still drive a '00 Malibu. Quote Link to comment Share on other sites More sharing options...
hutchies Posted January 28, 2009 Report Share Posted January 28, 2009 $0 payment on my truck and $252 a month on the wife's Durango. Only owe 18 months on it and it's paid off. One thing you have to remember Kyle is that even though a payment maybe a little lower it depends on how it rates with the Insurance company as to how much more it works out to a month. Quote Link to comment Share on other sites More sharing options...
PotashRLS Posted January 28, 2009 Report Share Posted January 28, 2009 We bought our 2002 Explorer in June of 2005 when our little boy was born. It had 26,000 miles and our payment was in the upper $280s. My wife pays the bills:o;). I consider it plenty of money, but felt it was good considering the alternatives. Quote Link to comment Share on other sites More sharing options...
Heavy Metal Posted January 28, 2009 Report Share Posted January 28, 2009 Yeah, I'm with both of you. To me over 300 is high. But in reality...I know people with "average" new cars and trucks paying like 600 plus!!? I don't get it. How do people do this? And some have two of them!? I haven't had a car payment in 5 years and I never will again. Well....never say never. Maybe when I'm older and can do it still within/under our means. But certainly NOT on one income and 4 kids! Quote Link to comment Share on other sites More sharing options...
PotashRLS Posted January 28, 2009 Report Share Posted January 28, 2009 Vehicles, new and used, are money traps. I would think this economy will bring the "look at me" types back down to Earth. However, the rich still get richer. Quote Link to comment Share on other sites More sharing options...
NS whitetail Posted January 28, 2009 Report Share Posted January 28, 2009 a 06 PT Cruiser ~ $ 460 month my 4X4 Dakota ~ $ 0 Quote Link to comment Share on other sites More sharing options...
SuperMn106 Posted January 28, 2009 Report Share Posted January 28, 2009 I have a 07 Colorado and my payment is $440. It is only that high because I have combined some other stuff with it, wish I would not have done that now. Quote Link to comment Share on other sites More sharing options...
MCH Posted January 28, 2009 Report Share Posted January 28, 2009 01 Jeep Wrangler--$200 02 Buick Rendezvous--$187.00 1996 Chevy PKup--$0.00 Quote Link to comment Share on other sites More sharing options...
layin on the smackdown Posted January 28, 2009 Report Share Posted January 28, 2009 my truck is paid off..however, i was paying $360/month and i thought that was a little steep. I think a vehicel payment over $300 is too high, but thats just me. I do know that some people pay $500 -$750 a month on brand new vehicles which is darn near a mortgage payment where i live. Once your vehicle payments are the equivalent of or exceed your mortgage payment, you may have yourself a problem. hmmm...got one for the redneck thread... Quote Link to comment Share on other sites More sharing options...
Cajun-101 Posted January 28, 2009 Report Share Posted January 28, 2009 well Kat i have a couple that are on the higher price end. I have a chevy duramax 2500hd diesel 4 door it's an 04 & my note is 390. The size of the truck & the package i got this to me isn't bad Now my wife has a 08 chevy malibu that is loaded & i pay 450. on it. But she changes out cars every 2 to 3 years i'm not sure why but it is what it is. I have a good friend that is the sales manager for a chevy dealership. When i purchaced the malibu i asked him what was the average note. His answer was 700 to 1000; i told him he was nuts. While I was there he had 2 to 3 different sales working.The creditors were going to lend these people the money where the notes were over 900. Thats why the economy is so bad today. He said the cars that would be sold that day would most likely be picked up in 6 to 8 months. Quote Link to comment Share on other sites More sharing options...
wtnhunt Posted January 28, 2009 Report Share Posted January 28, 2009 Depends on your other bills in my opinion Kyle. We took a three year loan for our durango, the payment on it is pretty high, equivalent to a house payment, however we have a three year loan and are paying 0 interest. Quote Link to comment Share on other sites More sharing options...
ruttinbuc Posted January 28, 2009 Report Share Posted January 28, 2009 My payments were $365 a month for 5 years on my 2003 Silverado. It was high, but doable at the time of purchase. The trouble is that by time you pay it off it is not worth much anymore. It would help if you can double up the payments early and knock off the principle on the loan. I don't know of too many people that can do that in today's economy. Especially, those that have kids or planning to have them. At least not in the crowd I know. Vehicles are never an investment unless you store them in a garage for 20 years. Quote Link to comment Share on other sites More sharing options...
rookieee Posted January 28, 2009 Report Share Posted January 28, 2009 I lease a f-250 king ranch payment with ins is $598.00 Quote Link to comment Share on other sites More sharing options...
Shaun_300 Posted January 28, 2009 Report Share Posted January 28, 2009 My 2000 Silverado is $244/mth, it'll be paid off in less than a year. My 2008 Can-Am Outlander is $306/month, 3 1/2 years to go on that one. Quote Link to comment Share on other sites More sharing options...
texastrophies Posted January 28, 2009 Report Share Posted January 28, 2009 The payment is all relative. Like William stated, some might have a higher payment, yet fewer years, while others might have a low payment but have it for 5 or 6 years. The best option is obviously no payment, the next best is the shortest time frame possible at the lowest interest rate. It usually comes down to need vs. want. Do you need 4 wd, do you need the big engine, do you need the accessories, etc.? These all drive the price up and the payments up. The answer to most of those questions is normally no I don't need it, but I do want it. And in my opinion there is nothing wrong with that, if you can afford it, go for it. One other thing that will drive payments up is the extras they try to get you to buy when signing the contract. Extended warranties, life insurance etc., for most of the people these are not a good deal. Quote Link to comment Share on other sites More sharing options...
doubleA Posted January 28, 2009 Report Share Posted January 28, 2009 2005 Ford F350 CC dually 4x4 2006 Lincoln Navigator 2006 Toyota Tacoma 4dr 4x4 Zero payments,they were paid for when they left the lot. :D:D Quote Link to comment Share on other sites More sharing options...
pendog Posted January 28, 2009 Report Share Posted January 28, 2009 2006 Dodge G. Caravan $225.00 2000 GMC Sierra $0.0 Put money down on Van or it would have been more. $350's and up was normal for the trucks i have owned before. Seems like alot! Quote Link to comment Share on other sites More sharing options...
Tominator Posted January 28, 2009 Report Share Posted January 28, 2009 Just paid off my truck, but it was a little over $250. Wife's Saturn Outlook is $380 I think. Quote Link to comment Share on other sites More sharing options...
pendog Posted January 28, 2009 Report Share Posted January 28, 2009 2005 Ford F350 CC dually 4x4 2006 Lincoln Navigator 2006 Toyota Tacoma 4dr 4x4 Zero payments,they were paid for when they left the lot. :D:D Nice DoubleA When me and the wife get debt free in several years (with God's help), we are looking forward to picking up a fairly new truck for us w/ cash. Can't wait! Quote Link to comment Share on other sites More sharing options...
Dawg Posted January 28, 2009 Report Share Posted January 28, 2009 One other thing that will drive payments up is the extras they try to get you to buy when signing the contract. Extended warranties, life insurance etc., for most of the people these are not a good deal. No doubt. When I got my Dodge Dakota a few weeks back, they wanted me to put a 2 year extended warranty on it, the GAP, Credit Life, yada yada yada........I told them to drop the warranty and GAP and I kept the credit life, and my payment went down about $100 per month......rip off.. I pay $306 a month on it and $416 on my wife's mustang. Quote Link to comment Share on other sites More sharing options...
Ohiobucks Posted January 28, 2009 Report Share Posted January 28, 2009 $0 on my truck, paid for off the lot 7 years ago. $0 for my car, company takes care of it. $300 or so on my wife's van. We bought this with cash and the help of our home equity line of credit. We have the option to pay the minumum of $120 or so per month, but we usually pay $300+. Quote Link to comment Share on other sites More sharing options...
PotashRLS Posted January 28, 2009 Report Share Posted January 28, 2009 2005 Ford F350 CC dually 4x4 2006 Lincoln Navigator 2006 Toyota Tacoma 4dr 4x4 Zero payments,they were paid for when they left the lot. :D:D Do you have a job opening?! I'm impressed Quote Link to comment Share on other sites More sharing options...
Texan_Til_I_Die Posted January 28, 2009 Report Share Posted January 28, 2009 2005 Ford F350 CC dually 4x4 2006 Lincoln Navigator 2006 Toyota Tacoma 4dr 4x4 Zero payments,they were paid for when they left the lot. :D:D Yeppers. If I can't pay cash for it, I DON'T NEED IT. Quote Link to comment Share on other sites More sharing options...
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