Should you shop for a $1000+ car payment right now?

I keep seeing these posts and I find it mind boggling, seems like most people don’t even need a car right now and definitely not more than one in a household. Regardless, I am shocked to still see deals posted for over $1000+ a month. Anyone else think this is crazy? Maybe in my old age I don’t have grasp anymore. I’m saying hunker down and :moneybag:is :crown:


One man’s $1000 is another man’s $100.


IF you’re financially stable, why not?

However when I see “no MSD” I suspect that they really aren’t as secure as they think they are.


Why I agree that you’re probably right, given the current market, if I had the disposable income to justify a $1000/mo car payment, I’d also be a lot less risk adverse on my investments and would probably put the MSD money into the market during its currently depressed state.


IMHO there are many cases where MSDs don’t make sense. Sometimes I do them, sometimes I don’t. I can tell you that (particularly for my BMW leases) I normally end up transferring during the first few months of my lease. MSDs make it harder to find a taker on a transfer in my experience. That is one of many reasons MSDs often aren’t the best investment.


Exactly. There is yet a second reason.

Now, I’m yet to see someone post about not wanting to do MSDs and say "it’s because I’d rather invest the money in a higher risk/higher reward investment.


I guess, but part of me says who know’s what could happen. I’ve been there so I’m a little more cautious I guess. Went from making $80k+ in 2006 to taking a job that paid less than half as much in 2007, plus the wife went half time staying at home with a newborn, plus a new mortgage in 2006 on our first house. Somehow made it out of that fairly unscathed but I did sacrifice some credit score(thanks statues of limitations)

I’ve already had well to do upper middle class friends apply for unemployment, that’s not normal

I’ve already taken a 10% haircut on my salary and probably more by the end of the year with furlough days.


My wife runs a real estate investment firm and they rent out many high end homes. She got a call two weeks into lockdown from someone renting a $7500 a month home. He couldn’t pay his rent. After two weeks. We do have a terrible epidemic ravaging this country. It’s called over spending. The more people make the more they spend. I have someone that works for so I know exactly what they make. He’s pulling in 150K a year in south Florida and he’s always broke. I’m talking about taking payday loans broke.

Most wealthy people aren’t renting cars for over 1K a month. Just saying. Are there exceptions? Of course but I think most people are stretching.


I think if you’re in the situation where this circumstance effects your ability to afford a $1000 /mo lease, you shouldn’t have been considering one in the first place. If you’re in a place where it doesn’t matter… well, then it doesn’t matter.


True but I’m not sure some people have fully grasped the situation, again what’s the rush, not like you can do anything with your $1000 month boat anchor right now. Why add the expense if there’s no use for it, any savings are being negated by the fact you can’t even go anywhere

Also I started this because I’m bored stiff and need some entertainment.


I look at the question differently…

“If I needed a car right now, would I spend $36,000 to have the one I want for the next three years?”

Yes. I would.

Does anyone need a car right now? Sure if you have the cash and could leverage a significantly better deal then go for it.

If I totaled my car right now, I’d need a car.

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A lot of people who can afford $1000/month cars, can still afford them despite there being a pandemic.

Adding in that they have a lot more time on their hands, makes the perfect storm.

Additionally, new car prices are likely going to go up when this is over.

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Having to choose between the two is a big sign the person isn’t wealthy and secure enough to truly, comfortably afford the car.

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Let’s do a poll: Should you be shopping for a car with a $1000+ monthly payment right now?

  • No
  • Definitely Not
  • WTF are you thinking?
  • Daddy Warbucks here

0 voters

I’m not saying they don’t have it or can’t afford it, but new money lacks tact, and people who lease a RR or X7 for the nanny have their FP hire a broker, they aren’t sweating incentives and MF on the Internet. :man_shrugging:t2:


Watch out for snowy off ramps



People are bored… looking for something to do, so they shop for a car.


You’re probably right…lol Money is burning a hole in their pocket