It feels good to have a vehicle that you love, but spending a big chunk of your income on a nice ride creates big personal debt problems. And in Lufkin, we rank among the worst in Texas for overspending.  If you're thinking of buying a new vehicle, you gotta read this! Lufkin ranks in the 95th percentile for overspending on cars, according to Wallethub, and Nacogdoches ranks in the 99th percentile.  In other words, we get an A+ for being good at creating big car payments for ourselves.

To come up with the numbers, Wallethub considered how much we still owe on a car after we drive if off the lot, and they considered how much money we take in monthly.  That creates a debt-to-income ratio, and that number for auto loans in East Texas is pretty shocking when it's compared to the rest of the US.  The debt-to-income ratio for auto loans is 130% in Nacogdoches, and 99% in Lufkin.  Oops.  A healthy debt-to-income ratio for car loans is about 36%

You can check your credit score for free on WalletHub and use the car payment calculator to figure out an auto-loan payment that's affordable and doesn't put us in the hole too much.

I mean, that ride is impressive, but we still gotta buy groceries after all.