What is your monthly car payment?

[nsa]

Whatever deal you're on, how much is your monthly lease/finance payment for your main car? Am curious because I read 15% of payments in the US are >$1,000 and I wondered: what do you have to earn to be comfortable paying that amount?

[jeremyh1]

about 26 pence a month .

I like my cars but only ever buy anything with cash .
I love our holidays too much to be spending out money on cars each month

[The Moose]

Where’s the no car payment option?

[phumy]

Im a cash person, so no monthlies to pay

[Fusion777]

0

[wpa1975]

Nothing, shed motoring for me

[grumbledoak]

A big, fat, 0 and reluctant to change that.

[The spinner of plates]

Well this is going well

[anonymous-user]

As above, cash only for me. I normally buy nearly new/ < 5k miles.

[anonymous-user]

I’ve always bought cash but 3 years ago for the first time my wife PCP’d a Mini countryman. With a large deposit the monthly payment was £183

It turned out to be a great decision because the retained value was so great that we kept the car and have got all the deposit back in the value of the car (ie the total depreciation and interest was £180 pcm)

Edited by anonymous-user on Monday 9th January 07:17

[paradigital]

£0. All four of our cars are owned outright.

Still not sure if owning the Tesla outright was the smartest move, but at least I can sell it if I do end up needing funds for something else.

[scorcher]

Shedding for me too. It’s parked up for 99% of the time so no point paying interest on a depreciating asset that looks nice on the drive.

[GT03ROB]

zero here too

[CraigyMc]

0.

[vikingaero]

phumy said:

Im a cash person, so no monthlies to pay

< £100

[Fusion777]

Can feel the salesmen and women quivering already

[covmutley]

£310, but as a personal loan for my audi a4

I did a lease (octavia) and pcp (bmw i3) a few years ago when prices were comparatively much cheaper than today. I still think they made sense to do, but the problem is that you are left with nothing at the end, so you never move forwards (either in car, or building equity)

My payment is more than the depreciation (especially in the last year or so) so the plan is to get the car paid off and build up some equity. I don't mind having a car loan in the future, but I'd rather it be around £150 a month max so that it's a small part of my income.

Edited by covmutley on Monday 9th January 07:24

[anonymous-user]

Normally I’m totally for shedding/ buying a better used car for the money, but having done it now it is quite nice buying new if you intend to keep the car for a good few years.

But buying on lease and changing every 3 years? No way!

[mike74]

I'm relatively financially competent and I don't tend to suffer with feelings of failure, inferiority and inadequacy therefore I don't feel the need to be seen driving around in a car that I can't actually afford to buy outright.... so yes it's a zero for me.

[Sycamore]

I had always financed/leased cars, and had a moment of realisation when filling my GT86 with fuel at just under £2 a litre, that alongside the ~£275 monthly payment, it was all a total waste to me especially considering I only really used the car for a commute that's not even fun.

Got rid of it a few days later and spent 2.5k on a mechanically sound, but cosmetically ropey Hyundai Coupe SIII. I don't have much interest in owning nice cars any more, so I think I'll stick with buying something at the bottom end of the market from now on.