Yes, inflammatory title but this is specifically regarding people who use car loans as a means to purchase something they actually can't afford. There are a few edge cases where a car loan makes financial sense and we will not be discussing those.
These guys have a channel and seem to discuss financial stuff for a portion of the subjects. Mike challenges his sister to not go buy a $15k vehicle when she only has $2k cash in the bank.
https://www.youtube.com/watch?v=8tk1BycWC9I
More to come.
Car loans are stupid
Re: Car loans are stupid
The result. 95 Camry. Good choice.
https://www.youtube.com/watch?v=nAJkbasxACw
https://www.youtube.com/watch?v=nAJkbasxACw
Re: Car loans are stupid
Dave Ramsey on selling the old beater.
https://www.youtube.com/watch?v=ho5XhqgoMEs
So we agree, more or less. Hassle factor as a function of income/net worth is why you move up. Very hard to make financial justification in most cases. I've said this for years and years.
https://www.youtube.com/watch?v=ho5XhqgoMEs
So we agree, more or less. Hassle factor as a function of income/net worth is why you move up. Very hard to make financial justification in most cases. I've said this for years and years.
But what if you are driving a Chrysler product?drive the car until you gotta replace the transmission.
Re: Car loans are stupid
You have already made an irreversible mistake... Luckily if you listen to this advice, you only have to live with that mistake for about 35,000 miles. LOLOL.But what if you are driving a Chrysler product?