Quote:
Originally Posted by Snowfox
Good for you but not everybody can do what you can, I think it will be safe if your car payment is 10% of total income max, more than that you may run a risk of......
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I'm not trying to be "holier than thou" here, I'm just pointing out that saving is cheaper than financing. Socking away that same car payment will eventually result in a new vehicle, but without paying interest, without finance charges, and without further concern about "affording the payment" should something happen like losing a job or sudden illness. If you are saving up, you can delay the purchase. If you are making payments, you end up hiding from the repo man.
And everyone
can do what I did, it's just that most people want it right now and choose debt slavery over delayed gratification. It's not that they can't, it's that they won't.