The Average American can’t Afford a New Car

[ksteezy]

Define approaching.

Just built a hybrid XLE with only Navigation and auto start and this is the quote I got.

View media item 293527

 

[ksteezy]

Say you're on a 10k mile per year lease I hear if you are trading to go to another car at the end of the lease it doesn't matter if you went over on your miles but if you are turning it in and walking away it does, is that true or did I hear wrong?

Yeah you are only allowed 30k miles in 3 years, you go over you get charged for those miles, you mod the car anyway you better know how to revert it to stock or else you'll get finedZ

 

[SneakerProSr.]

Define approaching.

Just built a hybrid XLE with only Navigation and auto start and this is the quote I got.

View media item 293527

Man that ain't average and if you actually want that car you probably ain't paying no more than 32 tops.

I bought a Challenger last month and I got 5200 off MSRP and I didn't even negotiate.

 

[Betonblck]

Define approaching.

Just built a hybrid XLE with only Navigation and auto start and this is the quote I got.

The lease on that is $587 a month, to your point earlier, unless you are leasing like a Kia Rio, you going to probably be paying like $3-4K a year. Unless you are blowing transmissions on the regular, you shouldn't be spending anywhere near that to maintain a used car.

 

[luckyluchiano]

Yeah you are only allowed 30k miles in 3 years, you go over you get charged for those miles, you mod the car anyway you better know how to revert it to stock or else you'll get finedZ

Is leasing only credit based? I got good credit but would they look at me crazy if I went into Audi looking at leasing and I didn't make 70k?

 

[SneakerProSr.]

Maybe my standards aren't that high but if you spending over 25k that's a nice car to me.

601 a month for a car is less only 100 less than a nice one bedroom apartment cost in Texas

I think this article is crap

 

[SneakerProSr.]

Yeah you are only allowed 30k miles in 3 years, you go over you get charged for those miles, you mod the car anyway you better know how to revert it to stock or else you'll get finedZ

Is leasing only credit based? I got good credit but would they look at me crazy if I went into Audi looking at leasing and I didn't make 70k?

I can only speak on my experiences but no. They will try to move heaven and earth to get you to buy a car.

 

[Fong$tarr]

I can believe it. Getting a car in SF is hard with the cost of living. I just started a job making 60k a year and I still have to live in a 300 square foot apartment and can't afford a car. Plus paying for a apartment with a parking lot can really be expensive.

 

[SneakerProSr.]

I can believe it. Getting a car in SF is hard with the cost of living. I just started a job making 60k a year and I still have to live in a 300 square foot apartment and can't afford a car. Plus paying for a apartment with a parking lot can really be expensive.

I make a little bit more than you and when I punched it into a cost of living calculator I would have to make 101k to keep my current lifestyle in San Fran.

Dallas for the win.

 

[benny bugatti]

I can believe it. Getting a car in SF is hard with the cost of living. I just started a job making 60k a year and I still have to live in a 300 square foot apartment and can't afford a car. Plus paying for a apartment with a parking lot can really be expensive.

Damn, you could buy a 3000 square foot house and have a mortgage payment of $1400 in ATL. But SF is a dope city no doubt about it, I'd be stupid agressive with chicks if I lived there considering the cost of living.

 

[furiousstylez23]

If it aint paid for cash I dont eem need it.

 

[25thhour]

Is leasing only credit based? I got good credit but would they look at me crazy if I went into Audi looking at leasing and I didn't make 70k?

Smh at you never getting enough of living above your means

 

[HankHill]

I can believe it. Getting a car in SF is hard with the cost of living. I just started a job making 60k a year and I still have to live in a 300 square foot apartment and can't afford a car. Plus paying for a apartment with a parking lot can really be expensive.

More or less same for me. Finally graduated back in December. Making a little over 60k. Working outside of DC and cost of living is ridiculous depending where you're at. VA suburbs are looking 1600 for a studio/1bdrm. Can find something cheaper, but they'll be really old outdated buildings and still be about 1300. MD side will have you at about the same price if you're in MoCo. PG is a lot cheaper and more for you're money. A mortgage payment here is cheaper than Rent in DC, VA, and other MD suburbs.

The main issue is the commute. The further out from DC you are, the cheaper the housing. The flip side of that is your hourly commute. Some people spend up to 2 hours each way getting to work. If you can offset your gas consumption by cutting down payments on a lot of things they'll do it.

 

[HankHill]

Sidenote:

I'd probably never buy a new car anyway. I'd be fine with a 4-5 year old used car with decent mileage. Best thing to do is save up for it. My current car is a 2001 lexus GS I bought almost 1.5 years ago. Engine in perfect condition (Thank You Based Toyota) and only needed new tire and a couple ball joints and control arms replaced.

Next car I get I intend to buy it upfront and it would probably end up being about 4-5 years old. That way it may still be under its last year of warranty and I'll be able to get all the repairs done.

 

[deek510]

Our economy is not going to improve, ever..

 

[solemate96]

That's why I drive a used car.

 

[jehul]

Just because you have a car fully paid for, doesn't mean you are guaranteed to put any extra money in your pocket bro, I would only recommend that to dudes tat know their way around maintaining a car, know mechanics they can trust, etc. even then you gotta land a good car, which to be honest are not the most desirable cars by young guys, if I had to get a used car best believe I'll be riding around in an old Camry or Corolla, those things are as reliable ad cost effective as they get, of course most young males want the used, almost out of warranty M3 and that's when things get tricky.

To each it's own, we all have our way to deal with things, I've lived through about 10 cars, 6 which were older cars that put me through hell with the exception of a 1994 corolla that I totaled being a dummy, the last 4 were all brand new, 2 scions, 1 Acura and now my Jeep, so I'm just going off my personal experience with owning a used car, financing and leasing.

:x Sorry Steez but unless you're a stunt driver there's no way you should be going through so many cars (new and used).

The lease on that is $587 a month, to your point earlier, unless you are leasing like a Kia Rio, you going to probably be paying like $3-4K a year. Unless you are blowing transmissions on the regular, you shouldn't be spending anywhere near that to maintain a used car.

^This. Being a car industry vet I can tell you that a little proactive maintenance goes a loooong way in lengthening the life of your vehicle.*

Most people would rather push their car to the limit (and only fill it with gas) until something major breaks, blame the car (a mechanical contraption with moving parts that will eventually wear down) then go buy a brand new car and take the depreciation hit b/c they won't have to perform any maintenance on it for the first couple of years. Hustling backwards, imo but the car industry has to eat too.



*We don't tell customers though because (a) we love people who have the mindset that they need new car (and think that all used cars break down constantly) and (b) proactive maintenance often prevents major $$ repairs that the Service dept loves.

 

[ksteezy]

I'm 30 years old bro...lol been driving since I was 19

First car was a hand me down from moms that I would drive to school, 1988 Jetta I believe, then the 1994 corolla which I totaled a year in, then a 1996 dodge neon which laste another year, then a Nissan sentra and finally a 1995 Honda accord which was the biggest piece of doodoo I ever owned, that was all up from 2001-2005 them in 05 I got the first year model of the TC had that one till 07 when I switched to a super hooked up black 07 TC I loveeeeeddddd that car then at the end of 08 I traded that car for an 07 Acura TL-S and had that up until this past year when I picked up the Jeep.

Miscounted by one car...lol hopping from used car to used car was nessesary, financing and trading in a year or two later was me being silly and throwing money out the window, up until this year which I made a pretty mature move of getting rid of my out of warranty Acura getting about 15k cash and the lease of the jeep which is great in the snow in comparison to my Acura.

 

[al audi]

Yea SF dumb expensive. Steezy is right......ppl can have a car but it can also be a money pit.

 

[hybridsoldier23]

No car payment and no debt FTW

Paid cash for my 10' user car a few years back and it was the best decision I ever made.

The best thing people can do is live with their beater when they're in their early/mid 20's and save to get a newer car when they're a little older. Trying to walk in and put 0 down only to be a slave to payments for the next 4-5 years is just :x to me.

 

[dankenstien88]

The lease on that is $587 a month, to your point earlier, unless you are leasing like a Kia Rio, you going to probably be paying like $3-4K a year. Unless you are blowing transmissions on the regular, you shouldn't be spending anywhere near that to maintain a used car.

^This. Being a car industry vet I can tell you that a little proactive maintenance goes a loooong way in lengthening the life of your vehicle.*

Most people would rather push their car to the limit (and only fill it with gas) until something major breaks, blame the car (a mechanical contraption with moving parts that will eventually wear down) then go buy a brand new car and take the depreciation hit b/c they won't have to perform any maintenance on it for the first couple of years. Hustling backwards, imo but the car industry has to eat too.



*We don't tell customers though because (a) we love people who have the mindset that they need new car (and think that all used cars break down constantly) and (b) proactive maintenance often prevents major $$ repairs that the Service dept loves.

So true. Repped.

 

[iamsaikotic]

It's because the average American wants to buy things they can't afford. You can get a fully equipped new car for 20K, but people always want what they can't have.

 

[fantastic4our]

:x Sorry Steez but unless you're a stunt driver there's no way you should be going through so many cars (new and used).
^This. Being a car industry vet I can tell you that a little proactive maintenance goes a loooong way in lengthening the life of your vehicle.*

Most people would rather push their car to the limit (and only fill it with gas) until something major breaks, blame the car (a mechanical contraption with moving parts that will eventually wear down) then go buy a brand new car and take the depreciation hit b/c they won't have to perform any maintenance on it for the first couple of years. Hustling backwards, imo but the car industry has to eat too.



*We don't tell customers though because (a) we love people who have the mindset that they need new car (and think that all used cars break down constantly) and (b) proactive maintenance often prevents major $$ repairs that the Service dept loves.

If it aint paid for cash I dont eem need it.

Basically. Most major problems can be avoided by changing your fluids regularly and getting things checked at the factory designated times. Dudes in here acting like people with used cars dropping racks every couple of months on repairs . Only thing I've had to pay for my car in the past year outside of fluids was tires.

 

[dipsetgeneral]

Thanks for the car knowledge fellas.

I'm thinking of coping a older used Lexus. How much money should I bring to the used car lot/auction? Only credit I have in my name is a Student credit card that has a $700 limit.

 

[tekthemaestro]

Thanks for the car knowledge fellas.

I'm thinking of coping a older used Lexus. How much money should I bring to the used car lot/auction? Only credit I have in my name is a Student credit card that has a $700 limit.

raise your credit. if you only have a $700 limit, i guarantee you dont have an extensive credit report even IF your score is good. in short, theyre gonna *force themselves upon you* on the price. Lexus loves to keep the prices high on their cars anyways.

Im a college student and ex-car salesman myself. I want that Kia Optima BAAAAAAAAD man. and i was this -->-<-- close to pulling the trigger on it, but i backed out knowing id just barely be able to make the $350 a month payments along with my new inflated car insurance payment. Best decision ive made in a while cuz we got a puppy and money got tight QUICK. And to be honest, now that I've cooled my jets on it, i realized i didnt NEED a new car. My bank account has thanked me since. I urge you and everyone else, cool your jets. Come back in a month or two and see if you still feel that need for a new whip.

If you feel you still need that new whip follow these rules:

1) DONT LIVE BEYOND YOUR MEANS! Determine if you NEED not want this new car. If you decide you do, then proceed.

2) have good credit. by good im talking 715-850+  and if your score isnt up there yet...get it up there. period.

3) whatever car you're looking to buy, be able to put at least 15% of the total price down in cash. If you cant do this, then HONESTLY, youre not ready to buy it yet.

4) have rainy month money. example, if you got laid off tomorrow...have enough money saved up that you could make your payments for at LEAST 3 more months before you were completely screwed.

5) keep in mind that with a new car will come a tweaked insurance payment. your insurance is likely to go up honestly, factor that into whether you can afford this or not.

6) Shop around, most people go to a dealership and think "this is the car i want, so ill pull the trigger" WRONG. check everywhere. check the local dealers, hit cars.com, carmax.com, ebay, autotrader etc etc and find the exact car you want. Most dealerships will ship a car to you either for free or low cost, you can save thousands this way. Get the best deal from a reputable dealer.

7) BARGAIN! The "msrp" is already marked up, theres a set limit cars can come down to and the dealer and salesman know it already. come to the dealership thinking "im going to leave today empty-handed unless they give me a deal i cant refuse."

9) Get your new car and take care of it. Stay on time with checkup. Preventing>Repairing in all situations.