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Forum » A Gen Zer and millennial whose monthly car payments exceed their housing costs
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Thread: A Gen Zer and millennial whose monthly car payments exceed their housing costs

post 1688471333 08-16-2023, 02:12 PM
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A Gen Zer and millennial whose monthly car payments exceed their housing costs

One of them is Nikita Sherbina, a 25-year-old in Seattle who works in the software industry. His $1,200-a-month car payment exceeds his $900 rent for his one-bedroom apartment, according to documents viewed by Insider.

Sherbina told Insider that in 2021, he purchased a Corolla 1852 four-door LE sedan to use for his daily commute and travel. He said the car was an upgrade from his previous vehicle and came with a higher monthly payment.

In a release, Ivan Drury, Edmunds' director of insights, said a combination of high prices and interest rates had driven the increase in US car payments.

"The double whammy of relentlessly high vehicle pricing and daunting borrowing costs is presenting significant challenges for shoppers in today's car market," he said.

Sherbina said managing his high monthly car bill — in addition to his other living expenses — could be stressful.

"You always want to have a steady income to manage those payments," he said. "If everything goes well at the company, then I have no reason to be stressed. But if not, then you definitely don't want to pay over those payments without income.
Cyrus Partow, 40, works in the digital-marketing industry in Los Angeles. His $1,650 monthly lease payment on his new BMW M4 exceeds his $1,417 mortgage payment for his 900-square-foot apartment, according to documents viewed by Insider.

Earlier this year, Partow began leasing his M4. While he said the car payment was roughly three times more than what he was paying for his last car — and included a 9% interest rate — he said it's worth it for now.
https://www.yahoo.com/news/gen-zer-m...141306369.html
post 1688471853 08-16-2023, 02:24 PM
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Not too bright folks
post 1688472143 08-16-2023, 02:31 PM
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If he only has a $1400/mo mortgage in Los Angeles, it seems reasonable to buy a nice car like that. Not something I'd do, but it's not like $3000/mo between house and car is some crazy number. I'm sure he earns $100k in Los Angeles.
post 1688472203 08-16-2023, 02:34 PM
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where did that guy find a $900 one bed apt in seattle?
post 1688472263 08-16-2023, 02:36 PM
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$1,200/month for a Corolla?
post 1688472483 08-16-2023, 02:40 PM
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Originally Posted By 300Lane1⏩
$1,200/month for a Corolla?
I can't believe it either. He must have had some good connections to get a deal that sweet in 2023.
post 1688472563 08-16-2023, 02:42 PM
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Originally Posted By Adam16121⏩
I can't believe it either. He must have had some good connections to get a deal that sweet in 2023.
14% interest 72 months
post 1688472653 08-16-2023, 02:43 PM
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That is the typical American.

Leasing high end cars that they will eventually be repossessed within a year.

Lmfao at the dumb fuks trying to prove they have money while they live in a **** tier apartment or home with the roof half done.

And why does the GEN Z all look like females. I have never see one male in that generation ever.
post 1688472683 08-16-2023, 02:44 PM
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Originally Posted By HateLiberals⏩
14% interest 72 months
Living the dream.
post 1688473333 08-16-2023, 02:56 PM
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gonna hef to call fraud, how tf is a corolla 1200 a month?????
post 1688474423 08-16-2023, 03:17 PM
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lol at $1200 a month for a Corolla. Does homie have a 500 FICO score? Is his loan from an Indian reservation? 50% APR and chit.

Also mirin proper usage of generation labels to age. Most people are retards when it comes to that.
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post 1688474963 08-16-2023, 03:27 PM
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$900/month rent in Seattle? I'm calling BS unless he lives in a homeless camp or something

post 1688475113 08-16-2023, 03:31 PM
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Originally Posted By Zelensky⏩
$900/month rent in Seattle? I'm calling BS unless he lives in a homeless camp or something

He may be splitting a 1 bedroom, but he sure as chit isn’t paying 900$ on his own anywhere in the metro
post 1688475323 08-16-2023, 03:33 PM
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Awwwwwwwww, my BMW M4 is expensive........
post 1688475473 08-16-2023, 03:36 PM
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Originally Posted By headturner1⏩
He may be splitting a 1 bedroom, but he sure as chit isn’t paying 900$ on his own anywhere in the metro
I'd rather be homeless than split a one-bedroom, especially if it was with a gf or wife.
post 1688475643 08-16-2023, 03:39 PM
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post 1688477203 08-16-2023, 04:07 PM
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Originally Posted By DolphinPilot⏩
I'd rather be homeless than split a one-bedroom, especially if it was with a gf or wife.
Same man, I’d fukin nuke myself in that situation.
post 1688478633 08-16-2023, 04:25 PM
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Originally Posted By LuigiMiami631⏩
That is the typical American.

Leasing high end cars that they will eventually be repossessed within a year.

Lmfao at the dumb fuks trying to prove they have money while they live in a **** tier apartment or home with the roof half done.

And why does the GEN Z all look like females. I have never see one male in that generation ever.
He even has a female first name, Nikkita LOL
post 1688480763 08-16-2023, 05:17 PM
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I don't understand what corolla could be 700 a month. The most expensive corolla stickers around 30K - even if you buy it way over mSRP- that's 40K after taxes


Even at 20% interest, that comes out to around 800 a month...so if you get destroyed on price and interest rate and buy the most expensive package, you're not going to be even close to a 1,000 a month


you'd have to pay like 40% interest to be at 1200 a month
post 1688482173 08-16-2023, 05:57 PM
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With payments that high he must be paying a huge amount of interest. He definitely bought way more than what he should've.

However, I've never understood the mentality of people complaining about others or feeling pressured into upgrading their housing if they want a more expensive vehicle. If I'm perfectly happy living in my "chitty" apartment or small house, why shouldn't I buy a cool car that I can easily afford? Even if it's worth more than a house. (Obviously not talking about this guy and his Corolla though) Oh no everyone's gonna think I'm a financial retard!! These type of complainoooors are low test and come across as women.
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post 1688483403 08-16-2023, 06:21 PM
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Originally Posted By MOP191⏩
I don't understand what corolla could be 700 a month. The most expensive corolla stickers around 30K - even if you buy it way over mSRP- that's 40K after taxes


Even at 20% interest, that comes out to around 800 a month...so if you get destroyed on price and interest rate and buy the most expensive package, you're not going to be even close to a 1,000 a month


you'd have to pay like 40% interest to be at 1200 a month
Maybe he still has payments on a previous vehicle loan from a trade-in?
post 1688483763 08-16-2023, 06:30 PM
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Where tf did he find a one bedroom in Seattle for $900???
post 1688489743 08-16-2023, 08:27 PM
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Originally Posted By Mercworx⏩
Where tf did he find a one bedroom in Seattle for $900???
The outskirts of Seatle?
post 1688490123 08-16-2023, 08:33 PM
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i always lol at some 60k lifted redneck mobile pulling into an apt complex

u fukinh wot m8?
post 1688490213 08-16-2023, 08:35 PM
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The 1200 Corolla payment has gotta be a 12 month loan. Or a 24 month loan with some negative eggy rolled in
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post 1688490303 08-16-2023, 08:37 PM
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The MSRP for the corolla is like $20k. What in the world. Even if its a 2 year finance he's still paying $30k for a base model corolla.
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post 1688536603 08-18-2023, 03:55 AM
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wow
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