On: Americans are struggling to pay off their auto loans

[cema]

  I literally cannot imagine paying $500 a month for a car payment

Why not? Consider: I got a Subaru Forester with $0 down and 0% interest which I pay off over 4 years. With options, it's $650 monthly. Again, no upfront costs.

[aphextron → cema]

To each his own I guess. I'd rather just write a check for $5k and get a decent used car than worry about making a payment every month for 4 years.

[nunez → cema]

That monthly would have been lower with a down payment and interest; that said, your plan is good