They did, that particular model was under 12k though so you were looking at 200-ish a month (5 year loan at 8%-ish) which was totally possible on the minimum wage of the day ($4.25/hr).
Idk if you’re working minimum wage that’s a tough payment to make. You were making 680 a month if you could get 40hrs/week. Then taxes and gas for the car your spending half your income on your car. If you’re working 40hrs you aren’t a student or something so then rent and excetra. This was out of your price range if you were sensible with money and working minimum wage.
It would be tight, but not as impossible as it feels now; 680 seems a little low, my math had it closer to 730-ish. My mom got 40+ hours every week at a convenience store around that time, granted we didn’t have a new car (ever), but comparing it to now it seems impossible.
Maybe I’m misremembering but rent was cheap not very long ago, in early 2004-ish I was paying $250/mo for a very small 2 bed house and the lady I ended up marrying had just moved out of a single-wide trailer that she was paying $100/mo for. At that point I was working at one of the same stores my mother had worked at except I was getting $5.15/hr (minimum wage at the time).
Now it seems like cheap rent is 5x that much and minimum wage here is still just $7.15.
I don’t think five year car loans existed in the ninties. Also, you could still get a car for like two paychecks back then.
They did, that particular model was under 12k though so you were looking at 200-ish a month (5 year loan at 8%-ish) which was totally possible on the minimum wage of the day ($4.25/hr).
Ouch, that hurts to hear as a millennial
Decent chance you could get it financed for 0%, too.
Idk if you’re working minimum wage that’s a tough payment to make. You were making 680 a month if you could get 40hrs/week. Then taxes and gas for the car your spending half your income on your car. If you’re working 40hrs you aren’t a student or something so then rent and excetra. This was out of your price range if you were sensible with money and working minimum wage.
It would be tight, but not as impossible as it feels now; 680 seems a little low, my math had it closer to 730-ish. My mom got 40+ hours every week at a convenience store around that time, granted we didn’t have a new car (ever), but comparing it to now it seems impossible.
Maybe I’m misremembering but rent was cheap not very long ago, in early 2004-ish I was paying $250/mo for a very small 2 bed house and the lady I ended up marrying had just moved out of a single-wide trailer that she was paying $100/mo for. At that point I was working at one of the same stores my mother had worked at except I was getting $5.15/hr (minimum wage at the time).
Now it seems like cheap rent is 5x that much and minimum wage here is still just $7.15.