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nk1 t1_j45jwzx wrote

Reply to comment by ffejie in JC or Hoboken for a 26 yo single woman?? by ItemCareful1077

It’s to own. I didn’t have much credit history before it so that’s why my payment is higher. Still a perfectly plausible situation for lots of people.

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ffejie t1_j45k7nj wrote

Yeah absolutely plausible - and frankly still a cheaper car payment than many. One thing to remember is in a few years, you'll have the car paid off and hopefully still functioning (or could trade it in). So technically, you are building a small amount of equity with your current payments. It probably works out to about even vs. transit, if you assume you'll have a $10K car at the end of 5 years of payments.

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