People actually agree to car payments like that?😂

A bit of advice, don’t go through the dealership’s bank for financing. Finance through a credit union instead. Better yet, use a credit union instead of a bank for your personal checking and get an auto loan through that credit union. The last time I financed a vehicle, the dealership couldn’t do me any better than a 12% interest rate and my credit union was able to approve me for an auto loan that had lower monthly payments and a 7% interest rate.

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That is the average new car payment now. Also that rate isn’t that high relative to what the average person pays.

I'm used to 0-2.9 lol. I have a 789 score.

As a used car salesmen from 25 years ago on Long Island, I can confirm. The question that made you pitch a tent from a buyer was “what my monflie at?” At that point you knew once you figured out what they were willing to pay a month, you could get them there. It might be 108 month payment plan, but the monthly is all they cared about.

I’m saving up to buy a used pick up for this reason. The finance charges are criminal even with good credit.

12.55% for 74 months. Welcome to one of the seven levels of Hell.

This is frankly nothing compared to some

Holy freaking crap!! I haven’t had a car payment since probably 2009. I paid cash for my last new vehicle, 2014 Toyota 4Runner. It’s still going strong at 11 yo 💪. I don’t ever want to buy another new car jeez!

If you’re financing a car for 72month that APR gotta be below 5% bc wtff lmao 12.5% for 6 years is insane

Chances are about 500 people signed one right now for an older car with worse terms... :/