Quote:
Originally Posted by puckluck2
I find the people who are well off are driving the older vehicles and the people who can't afford to buy new vehicles are the ones who need the brand new spanking vehicle.
The rich didn't get rich by making stupid financial decisions. And buying a new car off the lot isn't a smart financial decision unless you aren't financing it and buying it cash and can afford to do that. Too many people go into debt trying to have the newest shiniest toy. I drive an 04 Acura MDX that I bought cash like I do with all my vehicles. I started off with an 89 Ford Tempo and moved up even though at the time I could have went out and bought something through financing but what for? To look like I have money when I was living pay check to pay check? Meh I know that last paragraph won't be popular but so be it. It's my opinion and I strongly believe buying a car off the lot is throwing your money away. If you got a lot of money and don't mind throwing it away then that is your choice but for some people to have to depend in their check at the end of the month to pay off their car loan? To me, that is stupid.
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Totally agreed. Buying new cars and financing or leasing them is one of those awkward things in our society where a majority of people feel a huge desire to "keep up with the jones'", when it comes to driving a vehicle.
Even though most people would never admit it, vehicles are one of the most important "status symbol's" in our lives, for people that find that kind of thing important.
I see so many people that never drive around in a vehicle older than a year, people that I know for a fact are making under $20/hr driving around on forklifts, doing office admin etc. And when the topic comes up about how they afford it, it almost always boils down to;
"The payments are really tough to make, but this vehicle met all my needs". Oh, so you had to buy a 2013 SUV at $28k because of your needs? That's such a "falling for advertising" attitude. You hear "your needs" in almost every car commercial.
But yeah, if you line up 10 brand new vehicles in this city and pull the drivers and find out their "story", I would bet more then half of them would be along the lines of "I've got a wife and kids, a brand new house in (insert newer community), (a need), a yearly vacation (a need), and this $400/month payment for my brand new Dodge Durango, which they somehow justify as a need, even though it's likely the difference between them struggling financially and being OK.