Car buying is never going back to normal

[Lynn]

Originally Posted by markinnaples

I read just yesterday that the current average new car payment is ~$720/mo., which is astonishing to frugal ol' me. I could never imagine paying that much a month, let alone the ones on the high side that have pushed the average up that high. But, I have friends and acquaintances who have payments for well over $1,000 a month and it almost makes me physically ill to think about having that kind of payment. Today's world is insane to me.

Talked with one of the lawyers I office with. A client had just left his office. Just just bought a new car, about $42k (which doesn't buy much these days). Financed it for 84 months at 7.9% for a payment of over $650 per month.