Car buying is never going back to normal

[Too Many Projects]

Originally Posted by markinnaples

I read just yesterday that the current average new car payment is ~$720/mo., which is astonishing to frugal ol' me. I could never imagine paying that much a month, let alone the ones on the high side that have pushed the average up that high. But, I have friends and acquaintances who have payments for well over $1,000 a month and it almost makes me physically ill to think about having that kind of payment. Today's world is insane to me.

I'm with ya, Mark. I remember earning $1,000 a month ! In 1974, my apartment rent went to $300/month and I said that's enough and bought my first house. PIT combined was $245/month. $100/month car payments were considered for the rich.