Quote:
Originally Posted by albertGQ
But why is putting part of a ring on credit bad but it's okay to finance a $30k car when a used $8k car would be just as sufficient?
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You are the only one drawing that comparison/straw man/false equivalency, but I'll bite anyway.
A $30,000 car typically has a legitimate, ~$30,000 value when broken down to the sum of its parts plus labour. A piece of shiny rock for $8000 does not. It's value is arbitrarily made by the people who sell it to you at an insane mark up. It's a scam. They have totally over inflated its value to the maximum point they think you'll pay without consciously cluing into the fact that they're bending you over and laughing at you while they do it.
Not to mention people that recognize the poor value in an $8000 ring would also look for better value in buying a car at a used-price sweet spot in terms of mileage, age, wear and tear, etc., which brings me back to my original point that your argument is a straw man.