[undercoverbrother]

Originally Posted by squiggs96

I never once said that there isn't good debt or bad debt. It doesn't matter which one it is, it is still debt. I was more referencing the poll and discussion that's been carried out here on CP a few times.

I wouldn't say car debt is always bad. Some people like to lease cars, as they feel it's more cost effective, and you aren't using your own money. Pylon has many stories about this. I bought my old boss's car at the end of his lease. BMW was offering 5 or 6% financing, so I paid cash for it. If they were offering 1 or 2%, I likely would have financed it over 2-3 years. I wouldn't have felt trapped or thought of it as a burning pile of money.

The 8 year new car loans that I've seen advertised look dangerous to me, especially with how quickly cars lose their value in the first few years. The loan to value of the car could leave people under water for 85-90% of the loan term. Most of these people will want a different car before the car is paid off, and thus would be better off leasing. Actually they'd be better off buying a used car at less money and paying it off sooner, but some people want new cars and can't be talked out of it. That was also a fun thread here.

Wasn't a shot at you squiggs.