American Car Debt is EXPLODING Higher ($1,000 Per MONTH)

Car payments are exploding higher.
We are now seeing more and more people extending their loan terms just to make the car payment fit within their monthly budget.
People do this without realizing how much they will be paying in interest over the course of that loan.
Also, we are seeing a HUGE uptick in the amount of $1,000+ per MONTH car payments.
This is a value-packed presentation so stay until the end and share it with a friend!
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⏰ Timestamps ⏰:
0:00 - Intro
0:27 - Car Loans Reach $1.4T
1:25 - $1,000 Car Pmts
2:45 - 90 Month Car Loans
3:12 - A Dangerous Road Ahead
3:55 - Roadblocks to Affordability
6:30 - Policygenius Spot
7:45 - Roadblocks Con't
8:44 - Delinquencies Are Up
9:40 - Current State of the Auto Market
12:14 - How Can You Position Yourself
13:17 - My Thoughts
16:01 - LOL
ABOUT ME 👇
My mission is to provide my viewers with actionable content that enables them to create financial wealth. My videos reflect my real-world experience as a real estate investor, stock market investor, student of finance, and entrepreneur.
This channel allows me to share my passion for personal finance, stock market investing, real estate investing, and entrepreneurship. I produce content that I would want to watch, and because of that, I give 100% effort to every video that I make. I also believe in complete transparency and open communication with my audience.
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DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion.

[@WhiteBoardFinance]

🔥 WhiteBoard Finance University - Join My School Here: ⮕ www.wbfuniversity.com

[@alaskasoundguy2838]

Have Zach and ray on your show from car edge use to be yaa

[@lonewanderer3603]

I have a family member in finance. They made a comment that because homes are so far out of reach for young people, cars have replaced them as their largest expense, source of pride, and status symbol. They are making payments that would have been equivalent to a home payment 10 or 15 years ago.

[@paulmatthews9366]

Same thing happened in Japan in the 90s / 2000s. I recall the land under the imperial palace was worth more than Manhattan.

[@dougedoug2105]

True most people in my apartment building drive luxury automobiles but a luxury car in an apartment building is a huge indicator that someone isn’t financially wise. A friend who works in finance once told me that: Homes aren’t necessarily “out of reach” for young people, it’s just that when someone applies for a mortgage loan, when a bank reviews their credit and sees all those student loans, if it also sees that the applicant bought an expensive luxury car before purchasing a home, 9/10 the loan will be denied because the bank already knows that they’ll prioritize a car payment over a mortgage loan, and that the home may end up in foreclosure; It’s as simple as that. At the end of the day, for most young people, home ownership will ultimately boil down to financial literacy and not student debt. My $.02 👨🏾‍🎓

[@dougedoug2105]

@@whatwasisaying1338 If you can afford to pay $1-2k/month in rent, then you can definitely afford a mortgage. Based on your information, obtaining a mortgage is where the problem lies

[@wesleyguan6833]

Banks can even collapse due to Fed radically raise the interest rates so can’t the housing market? Houses in some region have declined 30% from its peak. Market itself will find the point of equilibrium where supply n demand will meet. I am not arguing here but trying to have a peaceful conversation. Hope everyone is doing well.

[@lonewanderer3603]

@@wesleyguan6833 you're right, absolutely. Housing will eventually be corrected and find its true value. I was speaking in general about the last 5-10 years.

[@serchizm]

I work around a lot of young professionals (nurses). The new Bronco comes out. My coworker (who most likely lives with parents) says “I went and got my Bronco! I was able to get the payment DOWN to $780/month!” What a stupid, stupid move.

[@vizzzzzzzle]

A friend of mine got one and the payment is around $900/mo. Ridiculous.

[@serchizm]

@@vizzzzzzzle when I was younger, I went out and bought a new car off the lot. But after a few months, the novelty wears off and that payment became a burden. Nowadays I keep my vehicles maintained and running good, and I love that they’re paid off.

[@CarolinaRealEstateGuide]

I have never had a car payment and I am 35. If you can’t pay cash you shouldn’t buy it

[@jackjack4412]

Healthcare folks can be pretty bad with that. Brand new jeeps & 4runners everywhere.

[@halonova8995]

You're just jealous that they got approved for a cool car and you didn't. Bet you'll be punching air when they pull up to work in that fresh new ride 😛

[@dbealby]

Once you pay off your car. Take 12 months and bank those car payments. After 12 months, I realized that I don't need a new car and enjoyed the financial freedom. 4 years later I bought a fun car with cash. Break the payments cycle, get ahead and enjoy the freedom.

[@Nursemidratz]

the one smart comment on here.

[@BologneseJones]

Amen . Financial freedom is the real freedom

[@SiisKolkytEuroo]

But... I got my car last year with 2% interest financing. I could have paid for that car a couple times over in cash, but I'd much rather have a cheap loan (less than inflation) and keep the money invested in stocks

[@gregorycyr9272]

I have not had car payments since 1996.I buy used vehicles.I had a1994 Toyota truck for 21 years 1995-2016 and a Honda Accord 2016-present.I paid a total of $16,000 for the 2 over a 28 year period plus repairs.

[@mingchi1855]

"But my car breaks down too often" ; "But my car is not safe according to * rating" ; "But my car feels small" ; but... but... Translate: they crave something new and demand everything "right here right now". Preparing for success is not a page in their books.

[@EachAdventure]

It's insane how expensive cars/trucks/suv's have gotten, especially over the last few years.

[@kent570253]

If people stop buying, the wheel will stall. Buy used car instead.

[@meme-yc4ks]

@@kent570253 This right here, but people dont get it.

[@brianwaller7383]

Ben hardy just posted a video of a Ford dealer. The cheapest truck base model XL was $48k smh

[@JAW1992]

I’ll take my used and well maintained 2012 F150 with 120k for $16k. Ppl are insane paying over 50k for personal vehicles.

[@doomdimensiondweller5627]

Why does everyone love SUVs so much Here is a personal finance tip for cars. Get a Sedan or Hatchback maybe even a coupe. Everyone wants SUVs but the problem is that drives up the demand meaning they cost more. MY mom bought a Cadillac SUV (it wasn't an escalade but I don't remember which one) and she could have gotten a CTS with the same interior and better performance for 10 grand less. Also Sedans will pretty much always get better gas mileage then an SUV with the same power train. Sedans are lighter and lower to the ground meaning they have better aerodynamics meaning. Not to mention insurance is pretty much always cheaper on Sedans Also sedans tend to be more reliable since once again they are lighter with better aero. Meaning the Power train doesn't have to work as hard to move it and the breaks don't have to work as hard to stop it.

[@TheLizardKing1967]

Car Payments Are EXPLODING Higher ($1,000 Per MONTH) - LOL..........Not for me... I paid cash for a 94 Celica. Scotty Kilmer.

[@TheLizardKing1967]

Thanks!!

[@jonveteran8424]

Congrats on the baby on the way! I just had my first kid (a boy) at 35 years old. Thanks for all your financial education, it helps tremendously.

[@WhiteBoardFinance]

Congrats!

[@nnekaoa9234]

​@@WhiteBoardFinance wow Marko 2nd baby.. u guys r not playing..congrats to u n your wife

[@blackvx]

Congrats to both!

[@miracleman8022]

@@nnekaoa9234😂 Marko Come on man how many you guys to pop out 6 at least right 🎉🎉🎉

[@cdb5001]

I never leased a car in my life. Just wait 2-3 years, buy used and save 30-40% off list price.

[@WhiteBoardFinance]

Same. I just bought an X5 with 11,000 miles on it (literally looks like a new car) for $25k off sticker.

[@narutobroken]

Yeah but how will you show to your annoying neighbors that you are better than them unless you have a new car every 6 months? 😂 what’s sad is people actually do that

[@tdgdbs1]

@@WhiteBoardFinance X5 or any German cars are money pits.

[@eightsprites]

@@tdgdbs1 People do say that. But I got a Mercedes from 2004 and it’s still running great. I do however follow the service guide lines with a service every other year. Now I have to add I don’t drive that much so maybe that’s why. But when cared for, German cars lasts good. Yes services are more expensive, but I haven’t had to fix much on the car at all.

[@WhiteBoardFinance]

I've owned about 10 German cars. Made money on a lot of them. All depends on how you take care of them.

[@Marktec]

I genuinely feel bad for people struggling with high debt. Been there. I’m also happy to be debt free now but I wouldn’t even be in this spot if it weren’t for people like Marko and a ton of hard work. The struggle to stay debt free continues even after not having any loan payments for 3 years. It’s worth it though, stay disciplined folks!

[@RF-lg4rq]

Most people do it to themselves. Plenty guys I work with have brand new telsas. I know how much they make. They only can do it working overtime. What happens when overtime dries up?

[@Jeremy_810]

15 years ago when my son was in school, 70% of the children there qualified for free or reduced price lunch based on household income. Yet somehow 100% of their parents drove a better car than mine. I don't feel bad they're still poor and I'm not

[@nsbioy]

This is true. But I have no feelings for people buying a new large SUV when they can't afford it. I will be enjoying my popcorn watching this.

[@timothyolawunijr8259]

@@Jeremy_810 well i knew someone pops that was a RE investor made good money drove a luxury car and the children still got free reduce lunch so that doesn't mean much

[@Jeremy_810]

@@timothyolawunijr8259 means he was probably lying on his taxes. Back then (where I lived) the cutoff was around $45,000/year household gross annual income to qualify for free or reduced price lunch. Closer to $35,000/year for a single parent income.

[@airekk]

I demand more Dave Ramsey impersonations 😂

[@nick31427]

I know a girl who bought a barely used Kia Sportage and was immediately 10k underwater. She didn't buy gap insurance, totaled it, and then bought another car that put her underwater ANOTHER 5k. So now she has a loan from a credit union for 10k covering the debt from the first car, and another car worth 20k on which she owes 25k. She makes $20 an hour and these two payments are $900. And congratulations on the baby 👶

[@jackjack4412]

Is she your wife?

[@nick31427]

@@jackjack4412 the girl from the story? No lol

[@jackjack4412]

@@nick31427 thank god

[@InternetUser._]

That $900 is 30%+ of her net income.

[@bph5070]

@@jackjack4412 🤣🤣🤣🤣🤣🤣

[@tonicsympathy]

They need to start making base model cars again and take all the fancy electronics out of the car

[@johnattanlafontant9412]

Thank you, Marko, for another great vid. personally, I am about to pay off my car (1k left) from a 2018 purchase. I really wanted to treat myself to something new but my gut has told me to relax. this is just what I needed to focus on wealth instead of short-term happiness. appreciate the presentation! love these vids!

[@joansmith6844]

Enjoy ur paid off vehicles take a restful financial break

[@rathelmmc3194]

Save up for 5 years and see if you're willing to write that check for a new car.

[@MrGrowthAndChange]

​@@rathelmmc3194 exactly, I tell people that all the time

[@mingchi1855]

Plus, if you've "starved" your car obsession, your next car paid with your savings will feel more "awarded" because you've been waiting soooo long. If ppl keep getting anything "today" then eventually they'll feel no emotional pulse getting new stuff.

[@cancel.lgbtq.6892]

I'm still driving my 2000 Acura Integra. Not that I can't afford new luxury car but I hate car payment. My coworkers are driving Tesla , BMW , Benz , Lexus etc. They all look surprised when I told them what I drive. They looked even more surprise when I told them that my house is paid off , no CC debt , 1 year emergency fund , 6 figures in 401k , and I'm about to buy a rental property in future.

[@ChrisWalksFast]

I drive a 94 Integra and I love it. Such a fun, reliable, and cheap car.

[@enricoroselli5328]

Everyone wants to drive a Range Rover not a Nissan Versa - I call my Versa Topo Gigio after the mouse on Ed Sullivan! OK I`m old! LOL

[@CarEdge]

Glad to see you talking about this, Marko!

[@WhiteBoardFinance]

To start comparing quotes and simplify insurance-buying, check out Policygenius: Policygenius.com/whiteboardfinance. Thanks to Policygenius for sponsoring this video!

[@ASMR_FOR_ALL]

Nice video!

[@johnattanlafontant9412]

and congrats to the new baby god bless you and your lady

[@WhiteBoardFinance]

Thank you very much!

[@santiagovallejo7495]

Congratulations Marko! I hope your family keeps receiving blessings moving forward. Thanks for all the valuable information

[@PaulaWalnuts]

I have never been more grateful than when I stumbled upon your videos in early 2019…at the end of 2019 I bought a very nice used 2016 Honda Accord and used your methods/suggestions at the dealership and got an incredible deal. I paid it off a year and a half later and it’s still keeps it’s value to this day. I’m not in car debt and not worried about the current situation that a lot of people facing today!! Congrats on the new future baby girl!! 🎉

[@nicolasnunoo1858]

Appreciate the info as always & congrats on the new addition to the family Marko 🙏🏾

[@2023Red]

Marko. I like the Power Point format. And the message is clear, people are only thinking about my monthly payment that can be squeezed into my monthly bills. We too want the latest model. And we have a used three year old Subaru. It works just fine but the lust for a new shiny luxury car is there. Hard to resist. But our discipline is to stay within our means and that results in no change. Great video!

[@drag718]

Incoming famous dave ramsey quotes. "That's stupid with a bunch of zeros at the end." "I want you to have a nice car, but I don't want the nice car to have you."

[@eatnpooter1634]

congrats on the baby !!!yeeyeeee waiting for your school to start up !!!!

[@dougz2855]

Thank you for always putting out great content! Congrats on your future addition to the family👶

[@WhiteBoardFinance]

Thanks so much!

[@nicholasdiprofio6903]

Really enjoy when you do these types of slides and presentations

[@Sci-Fi_Fan296]

This was good. I especially love the outake as always Marko! Keep up the great work! And congrats on your new addition!

[@WhiteBoardFinance]

Thanks a ton!

[@gerryp4315]

Love the format of this video! the charts are an excellent visual aid. Thanks for all the info as always!

[@WhiteBoardFinance]

Glad you enjoyed it!

[@djfrankblendz771]

Another great video Marko. Congratulations on your baby girl. All the best to your family. Greatly appreciate all the wonderful content that you provide.

[@WhiteBoardFinance]

Thanks so much!

[@8varium5]

Congrats on your baby on the way!! Great content, as usual. Thank you for sharing.

[@WhiteBoardFinance]

Thanks so much!

[@oceanstateyakfishing]

Thanks Marko! Keep these great videos coming.

[@WhiteBoardFinance]

Thanks!

[@char00lesg]

i love your slides.. all that information in one place.. nice..

[@WhiteBoardFinance]

Glad you like them!

[@Tully3674]

Mazel Tov to you and the expecting momma (and another good informative video).

[@WhiteBoardFinance]

Thank you!

[@RayRayDontPlayPlay]

Congrats on expecting Marko! Great content.

[@jwg9338]

I know it's pretty wild as Americans (we're in the same boat as Canadians), but for example, a new Corolla in Thailand starts at a price roughly similar to the US price. However, they make about 12K average less per year. So they stretch out payments and make larger monthly payments in relation to their monthly income. However as I understand, default is much harder. This is what the manufacturers and banks are hoping for will become the norm in the US in the next few decades. A literal slave of the consumer's own making.

[@bl1429]

A few years ago, my 2002 jeep needed a new engine. I sat down with pen & paper, and did the math. A five year monthly payment was going to be $1,365.86 a month. My mortgage payment was $593 a month. Since the body was in great condition ( no rust), I rebuilt the vehicle. Bringing it back to new, including the frame, it cost about $16.500 total. That was three years ago. A new vehicle for under $17,000.00 isn't bad considering new was going to be $87,500. I saved $70,000. Not bad.

[@javierst.martien4232]

Very informative video. Me personally I bought a lightly used f150 in December 2020. It had been sitting on the lot for a while and the price had come down quite a bit as I had been watching it. I went in at the right time and made a fat down payment and got a 2% interest rate. I’ve got just a few thousand left on the loan been paying 400 a month. Can’t wait to pay it off and drive it for many years to come (knock on wood)! I can’t imagine paying anywhere close to 1,000 a month or for 90 months even!!!

[@captainblando]

I love your PowerPoint videos. Don't ever change and sell out like every other financial channel.

[@0mar9]

50 year mortgages are next

[@Mr1991havoc]

Thanks Marko for the knowledge dump 😮

[@ethangiblette9154]

Thanks for the video. We were just starting to talk about upgrading our vehicle but will DEFINITELY hold off for now 🙅‍♂️

[@WhiteBoardFinance]

Glad it was helpful!

[@rjonah1]

Thanks for you content over the years. I was able to debt avalanche during the pandemic. No small part to having a 2010 car paid off. Don’t drive your debt it’s not worth it

[@Mystrenghtisinyourpresence]

Congrats for the new blessed bundle of joy to your family .

[@WhiteBoardFinance]

Thank you so much!

[@jon11c]

Appreciate you Marko!

[@sdtimeless]

Congrats. I had the same with two daughters. At first I wanted a boy but after having girls I’ll tell you it’s great. They’ll always love their dad.

[@boingomendoza8303]

Explained well. Bruh, u got a whole starwars /hansolo outfit vibe in this vid. That aside overall good vid! Good Ramsey, too😎

[@DanyoBro]

Good content man. Keep it coming. Congrats. Buyers should shop rates, and pay as much in cash as possible. Most all stop buying cars if you do not need one!

[@WhiteBoardFinance]

Appreciate it!

[@adrianhummel83]

Let’s go!!!! Congrats on the baby Marko!

[@tstride2009]

people with kids that think they are too good for a minivan, and need a90k suburban...

[@jimmylegs06]

My house (duplex) escrow is $1850/mo. My tenant pays me $1300/mo. A $1000/mo. car payment is beyond INSANE. What are we doing?

[@matthewryannorris]

Congrats! Keep us posted on your car buying journey. I for one am in the same situation and I’m curious to see how you navigate it. We are considering saving up to buy a new ‘24 Grand Highlander. I’ll likely employ your strategy with cash in the last video.

[@onemishelle]

Thanks for the update! I'm going to be in the market for a car for my daughter this year. Hoping to pick up a good deal. Definitely will pay cash.

[@BatmanBoss]

Thanks buddy! Almost one million 💪

[@mrssummersbudgets]

Congrats on the new baby Marko!

[@WhiteBoardFinance]

Thank you very much!

[@mannyvilla63]

Congrats Marko and thanks for the video.

[@WhiteBoardFinance]

Thanks for watching!

[@PD82]

Big Fan of the channel,Thank you for all the videos. God bless.

[@WhiteBoardFinance]

Thank you too!

[@beadleman15]

We are about to have our 3rd kid and my wife really wants a Toyota Sienna but i refuse to buy the inflated price. I have the cash on hand but i just cant bring myself to do it, id rather wait.

[@Financial_Awareness]

Perhaps in the coming months I can scoop up a few at auction and start a turo business. Great vid as usual! The private equity look looks good on you. 👊🏻👊🏻

[@danieljoseph905]

Great video, congrats on the new family member!

[@WhiteBoardFinance]

Thanks so much!

[@edelcarvajal6555]

Your videos are awesome dude. Why would anybody not like them

[@dtsect]

Too many people buy SUVs because they have a kid. A typical family sedan works just fine even if you have two kids. You don't need a big SUV for 1~2 kids. Stop spending money on these big SUVs that cost $50K+.

[@markdotson7470]

Thanks Marko ✌️ You're the best

[@vermasean]

Congratulations to you & your wife on minion #2 being on the way! 🙌

[@jobber1984]

Nice finance bro vest! Missing the WhiteBoard Finance logo! Awesome Data. 💪😂

[@JB-jb1nn]

Congrats on the good news!

[@anigaboyan2403]

Girls are the BEST!!! Congrats Marko!!! :) And thank you for always putting out great content!

[@WhiteBoardFinance]

Glad you like them!

[@WhiteBoardFinance]

Them being the videos I put out haha

[@InverseMyInvestmentAdvice]

Combination of rising car prices, low interest rates, and the trend towards financing rather than purchasing outright has led to an explosion in car debt in the United States.

[@thepersiancowboy2517]

Everyone usually boasting about buying their 2010 Toyota Corolla for cash on these investment forums, and this might not be practical for many of people who have needs (kids) or just want to enjoy life while still being financially responsible. As Marco has mentioned, use your common sense. If you do not want to buy a car in cash, and want to have a nicer car, look what financing options you have (something less than inflation). Also consider putting down enough money, not only to lower your monthly payment but also making sure you are not going under water and your loan always stays lower than the value of your new car. Enjoy life and be financially responsible!

[@lg82]

Marko, just came here to tell you that I dig that Patagonia sweater vest. I am now going to purchase one because of you for the office. Patagonia stock about to booooom!

[@chesscornett6187]

Good presentation. Makes me feel good that I listened to my mother in being responsible in economics. I have NO debt, FICO credit score of 835 and live well.

[@WhiteBoardFinance]

Excellent!

[@jimmytimmy3680]

How do you get to 800 and pass it?

[@chesscornett6187]

@@jimmytimmy3680 850 is max. Never late on monthly payments, pay off credit cards every month, keep CCard balances less than 10% of total credit, keep inquiries to a minimum, card longevity like 10 to 15 yrs. And of course, no bank ruptures. Good Luck...))

[@JuanGarcia-hr1wf]

Congrats Marko to the new addition to thw family. Many blessings.

[@TheEamonKeane]

Here in Ireland over past few years I've seen lots of nice new cars being bought... I feel many of them got trapped by lowish monthly payments

[@carlitos_714]

Here I am with no car payment with 3 cars……started working towards this the end of 2021……

[@blackvx]

Marko, thanks so much! Can't believe those numbers 😬 We were planning to buy a new car but we will wait. 90 months for paying a car... 😮 That's like a 100 year mortgage

[@WhiteBoardFinance]

Happy to help!

[@richhands5269]

My three favorite channels: Marko - WhiteBoard Finance, Stock Brotha, & Graham Stephan. Make my week complete!

[@OFFICIALRover]

Congrats on your babyy !!

[@Morphosisone]

Congratz Marko!

[@akwasiregister9529]

Congratulations on the new little one!!!

[@WhiteBoardFinance]

Thank you so much 😀

[@123hotdog111]

I have a friend that just bought a brand new 700+ horse power Ram TRX. Well over $80k. $12k just for the extended warranty. I'm happy for him, just not for me.

[@user-tb7rn1il3q]

It will be worth $20k a year from now and probably broken down. Extended Warranties never pay out.

[@Sesshyru]

Congraduations Marco!

[@WhiteBoardFinance]

Thank you!!

[@DineroyvidaenLA]

I work at car dealership, I have never seen this in my 30 years in the business.. the average car payment is over $500 and most above $800 .. and not luxurious cars .. just plain Toyotas ..

[@JoselitoBurrito]

I'm upset paying 260/m for a 60 month loan on a Ford Focus because I had bad credit for being a foreigner 😒 I can't imagine paying anything over 700$ on a car. That's rent price in most places in Spain...

[@davidh4921]

i like to buy my cars from private sellers and finding cars that have been owned by one owner and have taken care of it. Clean title, good maintenance and pay in cash even if it's older than 10 years. Use the carfax and take it to a mechanic before you buy it.

[@WhiteBoardFinance]

same!

[@kingyip5271]

congrats on the baby!

[@chely452]

Favorite way to spend my lunch break. Congrats on your 2nd babygirl!

[@WhiteBoardFinance]

Thank you!! 😊

[@nnekaoa9234]

thx 4 a great video..

[@WhiteBoardFinance]

Glad you enjoyed it

[@lucyrocha8403]

I’m glad I got my RAV4 when I did, it’s payed off and I’m driving it until the wheels fall off 😂 Great video as always

[@joesmith9483]

I'll just keep my 15 yo paid for Corolla. Crazy people pay $1000 a month to have a car. And I actually made $500k last year. No way I would ever pay that kind of money for a depreciating asset.

[@Ed307win24]

Not everyone has the same game plan. People have the right to enjoy THEIR money. You only live once.

[@dougedoug2105]

I bought a used car fresh out of college in 2020. Drove it for 70,000 miles in 18 months and decided to trade it in on a brand new truck at the beginning of ‘22 when prices were more affordable. Negotiated 8k off sticker my payment is no where near 1k/month. My objective was to purchase something new and avoid the inevitable pandemic car inflation. I figured purchasing something reliable that would give me a minimum of 6 years and 100k problem free miles would keep me off dealer lots during times like today with these egregious ass prices they’re demanding for new vehicles. Fast forward to today: The exact same truck I purchased 14 months ago has an MSRP of nearly 10k more today adjusted for inflation and with dealer markups. No way I’d want to pay that. It’s the same for everyone. What banks and dealers are doing today to punish consumers should be illegal but the thing about all those brand new F-150’s(America’s best selling vehicle for the past several decades) sitting on Ford lots is that they can’t remain expensive forever. Not sure what manufacturers had in mind to justify these price increases, but I can guarantee you it was a very stupid plan. Your new cars can either rust to death sitting on the dealer lots, or you can reduce prices and bring back rebates and incentives to attract more buyers.

[@loveandjoy810]

I bought a 2016 Honda CRV in May of 2021. It was around $25,000 with low miles. ( I probably overpaid 🤷🏽‍♀️, but I needed it.) I put $5,000 down and got a second job, paid the car off in 14 months. 😂 🎉. I hate debt. Of any sort. I am now saving to buy my next car in cash in about 6-7 years. I take good care of my cars. My 12 year old Honda Accord still runs though she’s got the palsy. 😂

[@jml9550]

Smart move, it doesn’t take much to save $400 a month. Working 4 hours every Saturday and Sunday will get you that much. We always buy cars in cash, we have no debt, paid off home and $200K income. My wife is still driving her 15 YO Lexus SUV. Don’t be stupid us like most of us Americans who signed then think.

[@agjr85]

My brother has a higher payment than his house on a Chevy Tahoe !!!!!!! Crazy.

[@user-tb7rn1il3q]

Crazy. Those don’t last very long either.

[@mikemonroe9167]

Congrats Marko 🐣

[@alkaline3254]

90 months? I sentence you to rice and beans for 20 years ! 👨‍⚖️

[@firstlast1732]

Good info thank you White boy finance

[@pk-76]

Dave Ramsey impersonation at the end was gold!

[@Isaac-rk4gm]

Great analysis! This is a disturbing "Buy Now, Pay Later" trend. As a side note i'm loving the finance bro patagonia vest/dress shirt combo.

[@MonsieurLabbe]

Congratulations on the new upcoming baby girl. Bless your family.

[@WhiteBoardFinance]

Thank you! You too!

[@MannyNCF]

CONGRATS ON THE KID!!

[@WhiteBoardFinance]

Thank you!

[@sillybilly9428]

That Dave Ramsey arms-crossed impression is spot on 😂

[@Penlandadam]

Yeah, that is. Ninety months term is outrageous. At that point, it would unless to even get the loan. It make no sense.