Average S550 monthly payment?

[wynand32]

Sorry all, my answer is $0. I paid cash for my car when I bought it new. First time ever!

No reason to apologize.

You know, I think the bottom line is this. We can debate until the cows come home which is the optimal use of cash versus loan, with all the potential variations on that theme. But in the end, if that decision is going to make or break you financially, then maybe the car isn't a wise purchase in general.

And I hope none of us are on our deathbeds one day lamenting the fact that we didn't put down enough -- or put down too much -- cash on our Mustangs. Hopefully, we're reflecting back on how well we lived our lives and had some fun doing it.

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[Shouldhavegotthegt]

2019 Bullitt. Paid $47k traded in paid off Boss 302 LS. Payment is $283 for 60 months.

 

[Rapid Red]

zero here

 

[Balr14]

Sorry all, my answer is $0. I paid cash for my car when I bought it new. First time ever!

Same here. Having any debt stresses me. So, I pay cash for everything. We have separate bank accounts for large ticket items. We don't spend more on an item than what is in that account.

 

[Rock&Roll]

$400 a month 0% interest

I got $11k for a RAV4 I traded in and I put $5k down. Anymore than $400 I wouldn’t have bought the car.

 

[Cheezzy]

Car was roughly 47k-48K OTD. 18k down, 0.0APR for 72 months. Payment was around $430-$450~ If memory serves me right.

I've been over paying it so my bill says $0 every month. I'd have to look through old statements to see what it was exact.

I was pretty happy with the deal. This was my first new car purchase at 23. I still drive an 04 ranger that was given to me at 17 to drive to work and school.

Here's a picture of it today with my cold weather wheels on it. I still have the original black PP1 wheels with summer tires.

 

[Decible]

640 a month, MSRP was 55,045 - fully loaded pp1 car put 8k down and financed 51k

 

[wynand32]

640 a month, MSRP was 55,045 - fully loaded pp1 car put 8k down and financed 51k

What interest rate/term? I'm jealous of you guys who bought before rates skyrocketed.

 

[Decible]

What interest rate/term? I'm jealous of you guys who bought before rates skyrocketed.

72 mo I think it’s 2.99 but I’ll have to double check that.

 

[Lorne34]

I think it comes down to personal financial status and what you can reasonably afford. I don't think it's wise to have a car payment (or any other payment) that stresses your financial state. I also think if you are married you should plan your finances so that if one partner loses their job you are not out on the street. My payment was approx $400/mo. I've never had a car payment higher than that. I've never purchased a brand new car either, not even the shelby. Got it used from a BMW dealership indiana with 1500 miles on it and paid 54k. Our daily drivers are paid off 2016 models that we will drive until the maintenance costs start occurring to the point where it doesn't make sense to keep it anymore. Some of the wealthiest people I know live modestly and don't have a need to buy expensive things that are utilitarian such as daily drivers, clothes, etc..

 

[SensesFail]

45k out the door, 3k down, 5.25% APR, 710 FICO, $690 72 months

 

[Schnder95]

$78,500 with 25k down. Roughly financed 53k and some change. Comes out to 700 month.

 

[Strokerswild]

I think it comes down to personal financial status and what you can reasonably afford. I don't think it's wise to have a car payment (or any other payment) that stresses your financial state. I also think if you are married you should plan your finances so that if one partner loses their job you are not out on the street. My payment was approx $400/mo. I've never had a car payment higher than that. I've never purchased a brand new car either, not even the shelby. Got it used from a BMW dealership indiana with 1500 miles on it and paid 54k. Our daily drivers are paid off 2016 models that we will drive until the maintenance costs start occurring to the point where it doesn't make sense to keep it anymore. Some of the wealthiest people I know live modestly and don't have a need to buy expensive things that are utilitarian such as daily drivers, clothes, etc..

First bold: Truth. Back in early '03, the company that my wife and I both worked for went belly up. Two months prior, the paychecks stopped. We had a car payment and mortgage at the time. Shortly before they officially tanked my wife got laid off so at least she could draw unemployment, but I got to ride it out with no pay until they folded and I could get on the unemployment train myself. Just a little stressful, and it made me think completely differently about how to operate financially. Debt free is a great place to be.

Second bold: More truth. I know two multi-millionaires, and you'd never guess in a million years by what they drive on a daily basis or how they dress. Both largely shun new vehicle purchases, and it's all about being frugal.

 

[19gtMD]

car was 52k when i got it i put down 22k financed 30k @ 2.99 apr my payments were right around $550ish but i opted to pay more. I pay $650 for 60 months. But it will be paid off before that.

 

[shogun32]

zero down, 35K (includes all fees and sales tax) financed 2.9% @ 60. 626/mo.
I should have it paid off in 3.5yrs.

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