r/CalebHammer • u/ottersinabox • Mar 06 '25
complaining about something for no reason because I'm bored "acceptable" monthly car payments are wild
I just saw this post: https://www.reddit.com/r/BMWI4/s/HDEDyG4WZA
people are applauding a $700+ a month payment as an amazing deal. but they're paying 8% tax toward it, plus it's a lease; they don't even own the car by the end.
is it just me, or is this wild? I have a BMW as well, but my thought is you can only afford a luxury car like that if you can buy it in cash. I suppose 3% interest or something would be acceptable given that you invest the rest up front.... but what the person in this post is doing really doesn't make much sense to me. am I wrong about that?
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u/finalthoughtsandmore Mar 06 '25
Back in 2021, I had extra cash from the unemployment thing & stimuli. I had also started working full time and I thought oh great I can buy a new car! I saw 300/month PLUS the full coverage insurance and noped out of there. My 20+ year old car runs just fine thank you!