# What is your monthly car payment?

**URL:** <https://boards.straightdope.com/t/what-is-your-monthly-car-payment/657876>\
**Category:** In My Humble Opinion\
**Created:** [May 9, 2013, 9:47am UTC](https://boards.straightdope.com/t/what-is-your-monthly-car-payment/657876 "2013-05-09T09:47:42Z")\
**Posts on this page:** 5\
**Page:** 5

<div class="post-metadata">

**Author:** ![JustinC](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/justinc/32/8083_2.png) [@JustinC](https://boards.straightdope.com/u/JustinC)\
**Post date:** [May 13, 2013, 12:57pm UTC](https://boards.straightdope.com/t/what-is-your-monthly-car-payment/657876/81 "2013-05-13T12:57:01Z")

</div>

I’ve never had a car payment or bought new either. There’s an ex-car salesman in the family and he’s always said that cars lose a third of their value as soon as they’re driven off the lot. I think that’s okay if it’s a company car and you can write off the loss but makes for bad economics otherwise.

I appreciate fast cars so will rent one now and again, or a big saloon if I need the space and comfort. Otherwise I buy privately and with cash, and save what I would have spent on too many holidays.

---

<div class="post-metadata">

**Author:** ![Doctor\_Jackson](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/doctor_jackson/32/32_2.png) [@Doctor\_Jackson](https://boards.straightdope.com/u/Doctor_Jackson)\
**Post date:** [May 13, 2013, 7:07pm UTC](https://boards.straightdope.com/t/what-is-your-monthly-car-payment/657876/82 "2013-05-13T19:07:40Z")

</div>

Four vehicles, no payments. My spouse and I decided about 12 years ago that we no longer wanted car payment(s). We pay cash for an older vehicle and drive it until it dies.

---

<div class="post-metadata">

**Author:** ![RickG](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/rickg/32/5174_2.png) [@RickG](https://boards.straightdope.com/u/RickG)\
**Post date:** [May 13, 2013, 7:46pm UTC](https://boards.straightdope.com/t/what-is-your-monthly-car-payment/657876/83 "2013-05-13T19:46:19Z")

</div>

Took out our first ever car loan last year for a new 2012 Mazda3. This was our first car purchase in 15 years, and, though we could have paid cash, the loan rate was \<2% for 36 months, so we financed a little over half the cost just for cash flow purposes.

Payments are a little less than $350/month. If my wife is able to go from part- to full-time teaching, we’ll pay it off more quickly.

---

<div class="post-metadata">

**Author:** ![Anaamika](https://avatars.discourse-cdn.com/v4/letter/a/5f9b8f/32.png) [@Anaamika](https://boards.straightdope.com/u/Anaamika)\
**Post date:** [May 13, 2013, 8:44pm UTC](https://boards.straightdope.com/t/what-is-your-monthly-car-payment/657876/84 "2013-05-13T20:44:18Z")

</div>

> [@olivesmarch4th](#):
>
> I too drive a Fit, it’s a 2009 and I love it. Also my first new car. No idea how much the payment on it would have been because I bought it with cash. My husband paid $300/month on his used 2008 Civic but now that’s paid off too. It’s really nice not having to worry about any car payments. We can now take the money we would have used on monthly payments and save it for our next car. I’m planning to keep my Fit at least 8-10 years before I look for something new, possibly longer. However long she lasts.
> 
> FYI, Hondas tend to have really good resale value. I know you say you aren’t worried about that, but it will no doubt be helpful when it comes time for a trade-in.

What color did you get?

---

<div class="post-metadata">

**Author:** ![Hari\_Seldon](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/hari_seldon/32/5173_2.png) [@Hari\_Seldon](https://boards.straightdope.com/u/Hari_Seldon)\
**Post date:** [May 13, 2013, 9:42pm UTC](https://boards.straightdope.com/t/what-is-your-monthly-car-payment/657876/85 "2013-05-13T21:42:27Z")

</div>

What the hell’s a car payment?

I have bought 8 cars going back to 1960, all for cash. Four were new, including two before my kids went to college and two after they finished, those last two in 1990 and 2007. While they were in college I drove a couple of clunkers for which I paid about $500 and $1000.

[Previous page](https://boards.straightdope.com/t/what-is-your-monthly-car-payment/657876.md?page=4)