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Ford F-150 Is Driving the Retirement Crisis

1140 Views 1 Reply 2 Participants Last post by  maize
The F-150 is one of the best-selling vehicles in America, and many are finding it difficult to pay off...

Check out this one story of someone hit hard by the pandemic we're in:

The Denton, Texas, couple pay $4,400 a month on their mortgage, four car loans and leases, and student debt, Ms. Scott-White said. Minimum required monthly credit-card payments total about $700. The debt was manageable pre-pandemic, she said.

She deferred lease payments on her Infiniti QX60 for three months and started paying again with unemployment benefits. Her husband traded in his Ford F-150 in August for a lower-cost car and reduced his original monthly payment of $820 by about $100, and his income covers the $2,100 mortgage.

And as you read into the bigger picture, it gets scary:
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A new truck is not for everyone. If you can't afford a new F-150, plenty of good used trucks, Ford Rangers, and other trucks out there until you can save up for the new F-150. It's worth it, but don't stretch yourself too thin. Many things in life are more important than the truck.
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