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Optimal-Effective t1_iy9vkpk wrote

Reply to comment by MonsieurVox in How much does one need to make to afford a car? by Which-Ad6431

Not just the payment but also insurance which would be high due to value of car and financed

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MonsieurVox t1_iy9w91u wrote

Yup, great point. Many people understandably want to get a nice car once they make a good income or get their first "adult" job, but fail to consider that it's not just the monthly costs — payments and insurance — but also the ongoing maintenance costs, fuel costs, etc.

And that's not even factoring in the opportunity cost that's associated with spending $1,500+ per month on a car payment when that could be going to investments.

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Optimal-Effective t1_iya0syr wrote

the best feeling is having no car payments. my last two cars I bought used and paid in full with cash. I spent the first 10 years of my driving life with car payments and its just not worth it.

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