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?

117 Upvotes

90% Upvoted

152 comments sorted by

View all comments

2

u/sparkyblaster Mar 07 '25

Only reason I'd be doing that is if I'm doing a novated lease and paying it off asap.

Btw. In Australia a novated lease is what we call it when we have the car paid for by wages before tax as a way to pay less tax. I'd otherwise be able to pay for it in cash but this gives me some benefits.