No. After 6.5 years of making payments with compounding interest I will have paid 36,000 for a used compact cargo van. The list price was around 26k for a 2020 model with 36,000 miles and a clean record.
Look up cargo van prices right now. I actually did really well on both the price and the interest given today’s market.
When I was 25 working at a grocery store, I could buy myself a new car for $300 a month.
If I tried that now it would be closer to $700 a month…
And you’d be paying it off for 6 years.
Just bought a used compact van with 36,000 miles on it. Gonna be paying $453/month for 78 months.
With the miles I drove monthly, it’s gonna have over a quarter-million miles by the time it’s paid off.
You spent $35k on a used compact van? Fam you got scammed
No. After 6.5 years of making payments with compounding interest I will have paid 36,000 for a used compact cargo van. The list price was around 26k for a 2020 model with 36,000 miles and a clean record.
Look up cargo van prices right now. I actually did really well on both the price and the interest given today’s market.
Depends on what you mean by new car. I just bought a car at $350 a month for 20k. 20k is definitely “new car” range for many vehicles.