By my calculations, we’re looking at an average MSRP in the range of $36.2k to $55.1k or an average monthly payment of roughly $608 to $924 (see my payment assumptions at the bottom of the table).
This doesn’t include taxes and all of the crazy fees they charge you or the additional outlays for gas. And I’m going to assume it’s few and far between that actually pay the lowest MSRP because most people want all the bells and whistles.
I also understand that most of these large SUVs I see all over the place are more than likely leased. That’s fine. It can lower your monthly payment a tad. And for those who would always like to be driving a new or like-new car, it probably does make more sense to lease rather than buy to avoid the hassle of resale and insane initial depreciation that exists with new cars.
If you are going to buy new, the best option would be to make sure you buy a reliable car that can last long enough to see you through to a time where you have no car payments anymore. Here’s a list of the top 15 cars people hold onto for 15 years or longer: