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RE: To Hell With Repossession, No More Car Notes

in #dtube7 years ago

I (unfortunately or fortunately) now do not have a personal car. But at my age many people are trying to buy a good car. Many have been saving money on this for many years. Everything for that would stand out among the others.
Yes, it's nice to drive in a Mercedes, but in my opinion if you do not have enough money for a car, you should not go into debt or take a loan to buy. The joy of buying will quickly pass, and you will have to pay very long.
The interest under which the banks give money in my country (10-15% per year) I consider huge. As a result, people overpay an amount equal to more than half of the car.
We must live within our means. The consumer society teaches us to be wasteful and to commit rash acts.

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The interest rates are what really kills you. And like you said, if you can't afford it then you shouldn't buy it. I didn't heed that advice when we got that car. Now I will stick to my gut and live within my means.

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