Average S550 monthly payment?

[young at heart]

I was more than a little shocked to see this piece in FA and it got me wondering about comparable Mustang payments. It’s hard to see how the average family can afford this.

https://fordauthority.com/2022/10/over-one-third-of-ford-f-150-owners-have-1000-monthly-bill/

If your Mustang is financed would you mind sharing your monthly car payment?

Heck, it seems to me that $1000/month is getting into the house payment range. But maybe I just need to get up with the times…

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[ironsurvivor]

Like $320 a month. I pay $450 a month though just to pay it off sooner. 18 GT premium with 401a and 10 speed. Paid 32k for it with 10k miles back in 2019. Hindsight is always 20/20 and I am glad I bought when I did.

 

[gadgtfreek]

Both of mine have been around $700/month. 2019 PP2 bought in 2020, and 2021 GT Prem bought in 2022. Didnt put any money down, got a good rate and it was in the range of what I planned to spend.

 

[Mspider]

I put 9k down @ 2.9% 60 months 590 a month. Car was like 44k MSRP I also had some discounts to use.

 

[Carrera]

In these times , it really depends on the APR . Lately it’s been high asf .
For mine , it’s a lil over 500 for a 20’ GT/CS 401A

 

[MCS]

I put 44k down and am paying $225 bi-weekly.
The rate was %2.49 for 72 months.
58 months to go.

 

[460Fred]

I understand the thought behind your question and it applies to many, many more things As well.
I’m blown away with the spending I see going on, I just don’t get it. People are shopping payments.
I’m seeing spending habits from the 20-40yo crowd that will flat out get ‘em in trouble tomorrow.
The inflation rate came out again this morning @8.2%. I’ll guarantee it’s higher than that when we continue to see gas and groceries alone still climbing.
I here people complaining yet won’t give up their $15 a day Starbucks habit. The younger crowds don’t know how to shop to save and certainly don’t know how to cook. Their habits have not changed during this recession.
I know this doesn’t apply to all young folk but it’s pretty prevalent.

 

[kmetz77]

2016 GT Convertible - Performance package. 6 speed manual fully loaded. bought it in February with 27k miles. Paid just over 33k. payment is $640 per month.

 

[rebelyell22]

$52k OTD, $17500 down…72mths at 1.9%. $482 a month

 

[Spartan1]

The better question might be annual salary. Someone making $50k should not be buying a $44K vehicle, and I do not understand putting no money down on a car like this and having a payment approaching $1K, makes it seem like you are stretching what you can afford.

But to answer the question, I put half down on my '22 for $42K, pay $300/month for 84 months, but will pay it off early.

 

[rebelyell22]

The better question might be annual salary. Someone making $50k should not be buying a $44K vehicle, and I do not understand putting no money down on a car like this and having a payment approaching $1K, makes it seem like you are stretching what you can afford.

But to answer the question, I put half down on my '22 for $42K, pay $300/month for 84 months, but will pay it off early.

I don’t get it either. I financed mine, because it was 1.9%… way below inflation, so it’s actually cheaper than paying cash, and I put down enough to have a low payment. No brainer.

 

[MAGS1]

I don’t get it either. I financed mine, because it was 1.9%… way below inflation, so it’s actually cheaper than paying cash, and I put down enough to have a low payment. No brainer.

That’s a good approach. At 1.9% it’s basically free money so makes sense to sit on your cash and use it or invest it elsewhere. I take a similar approach as well. I got a good rate for the current times (3.9% for 60 mos) and between my trade in and incentives I am more than comfortable with my monthly payment and how it fits our monthly budget so it didn’t make any sense to me to put any more cash down. I’d rather sit on the cash in the event of a recession.

 

[brianbr]

I bought my 19 GT pp new in April of 20. Msrp was around 42k, paid 39k. Got the 0% for 72 at 460 a month.

 

[PonyLance]

Guess I'm one of the lucky ones. Paid cash. Have been paying cash for everything for over 17 years now, including my house. Oh yea, my credit score is still 812.

 

[Linkster1666]

Mine was about 56k a month for one month.

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