Do you have a car payment?

@JenInTN (27514)
United States
May 9, 2009 8:36am CST
I think that most people have a car payment and sometimes they are very high. Some people settle for a less valuable car just to get out from under that car payment which can sometimes be as much as a house payment. Do you have a car payment? If you do,is it as much as your house payment is or would be?
3 people like this
11 responses
celticeagle
@celticeagle (189880)
• Boise, Idaho
10 May 09
Happy Mother's Day, Dearie! Luckily my car is payed off. When I did have a car payment it was about half what my rent was at that time. I feel very releived to have the car payed off. It runs great[will probably break down on me now that I said that]and is just right for me and my running around. I wish I had a nice, new, fancy car but i don't and i live with it.
2 people like this
celticeagle
@celticeagle (189880)
• Boise, Idaho
10 May 09
You too Dearie!
1 person likes this
JenInTN
@JenInTN (27514)
• United States
10 May 09
Hi celticeagle! Happy Mother's day to you too. I would love to have a brand new car but I like that mine is paid for. It serves me well and isn't a heap..lol..I remember having a car payment and really struggling sometimes. Thanks for the response and have a great weekend!
2 people like this
firecracker
@sacmom (14192)
• United States
12 May 09
No, I don't have a car payment. Any vehicle that my husband and I buy we pay in full. Okay, so they've always been used cars that are older, but at least we've never had a car payment.
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JenInTN
@JenInTN (27514)
• United States
13 May 09
Nothing wrong with that! I do the same thing. Thanks for the response.
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ANTIQUELADY
@ANTIQUELADY (36440)
• United States
9 May 09
no, thank goodness. mine is paid for. hope i never have to have another car payment.
2 people like this
JenInTN
@JenInTN (27514)
• United States
9 May 09
You and me both jo! There was a time I had one and I will tell you I struggled sometimes. Thanks for the response and have a good weekend. You and anniefannie getting out and about?
3 people like this
savypat
@savypat (20216)
• United States
9 May 09
Yes my car payment is the same as my house payment, but my car will be paid off sooner. This year in fact. I have so many bills that payment is going to pay off I sure hope nothing happens to the car.
2 people like this
JenInTN
@JenInTN (27514)
• United States
9 May 09
Hi savypat! That is one good thing about the car. It will be paid off sooner. I'm glad you almost have it paid for. You will have a lot of extra money when you do. Take care.
1 person likes this
sunil_008
@sunil_008 (1269)
• India
10 May 09
Hi Jen, no i don't have any car payment going on. but don't whether in the future i'll have any...to be honest i don't like purchasing a car through payment mode...these days there are so much complications in the installments they set you to pay in...i really sometimes don't understand about their method of calculation...
2 people like this
JenInTN
@JenInTN (27514)
• United States
11 May 09
The payback system can be very tricky. It's important to understand everything before signing that contract. That's how they can get us sometimes. Thanks for the response.
1 person likes this
anniefannie
@anniefannie (1737)
• United States
10 May 09
no idon't have acar payment because i have acar that is 14 years old. the payments would be high as a house payment is why i just keep my old car.
2 people like this
JenInTN
@JenInTN (27514)
• United States
10 May 09
I'd just keep mine too. As long as it runs and get you where you need to go..who cares if it's 14 years old. It's probably nicer than some of the newer ones. Take care.
1 person likes this
lilybug
@lilybug (21107)
• United States
9 May 09
I have only ever had one car that I had to make payments on. I bought it in 1998 and I drove it until 2007. My car payment back then was $266 a month, so it would be a lot less than a house payment.
2 people like this
JenInTN
@JenInTN (27514)
• United States
9 May 09
That would be a lot less. Sounds reasonable too. This one guy that I knew went in debt for $675 a month for a car payment. It was a very very nice car..but a lot more than I could afford. Still a little less than a house pyment but still very expensive. Thanks for responding and take care.
1 person likes this
chrislotz
@chrislotz (8136)
• Canada
12 May 09
I have never had a car payment and I am not about to start getting into debt now. I have always owned older cars that I have bought second hand. They have all been good cars and have lasted me many years and with little repairs, so I think I have been lucky so far. I would never buy a brand new car because they seem to have more problems than second hand cars. I know lots of people who have purchased brand new cars and their cars seem to be in the shop more often than not, getting fixed. Also for the price of a brand new car, I could buy quite a few older models. All of my cars have lasted me at least 5 years or more so I know I have always gotten my money's worth out of them. I know some people that pay more for their car payment than for their mortgage, and that is sad. I know a guy that is paying $600 a month for his car payment and then pays $500 a month for his insurance. So for the privelage of driving it is costing him $1100 a month and that isn't including his gas. If it cost me that much to drive my car, I don't think I would be driving. I wouldn't be able to afford it for one thing, and even if I could, that seems like a waste of money to me.
1 person likes this
JenInTN
@JenInTN (27514)
• United States
13 May 09
I think the newer cars are not as well made either. That guy sounds like some of the people that I know and I wonder how they make it spending that much on driving. Thanks for sharing and take care.
okkidokitokki
@okkidokitokki (1736)
• United States
9 May 09
My car will be paid off in two years unless I can make extra payments. As I do not yet have a house payment that is not a concern, but I do plan on buying a house in the next 5 years and so I shouldn't have this car payment then.
2 people like this
JenInTN
@JenInTN (27514)
• United States
9 May 09
That's very wise. It would be tough to manage both. It's amazing how a few extra dollars can reduce your time payinf for a car. Thanks for the reponse.
1 person likes this
sharlahodges
@sharlahodges (813)
• United States
9 May 09
Yes, I do have a car payment. No, my car payment is not as high as my house payment. I would not think a car payment would ever be as high as my house payment is. I can not imagine anyone having a car payment as high as a house payment. At least not as high as my house payment. Where I live all house payments or even apartments rent are at least twice of what a car payment would be.
2 people like this
JenInTN
@JenInTN (27514)
• United States
9 May 09
Hi sharlahodges! Thanks for sharing. I have a friend that got her car first and had a pretty high interest rate. Her car payment was about $550 a month..then she got her house and had established better credit and her house payment was only a bit more at $600 a month. I talked her into refinancing for a lower rate but at first..her carpayment was almost as high as her house..lol..It is hard to imagine. Take care.
1 person likes this
lilmomof2
@lilmomof2 (88)
• United States
9 May 09
I paid off my car a couple of years ago, I felt so free after it was paid. LOL I can't imagine having a car payment that is as much as a house payment, but then again there are some people that have to keep up with the Jones! Next on my list is to pay the house off! LOL
2 people like this
JenInTN
@JenInTN (27514)
• United States
9 May 09
It is unreal to think a car payment could be as much as a house. I don't have one either. I'm not much on keeping up with the Jones..lol..I'm happy with my little car. Thanks for responding.
1 person likes this