10-26-2012, 09:41 PM
Here's my philosophy on cars and repayments. If you can't afford it don't buy it. My sister has gotten a new posh car, but as I have said to mum, she doesn't own it, the bank does.
All these people who are speeding passed me on the freeway are rushing to a job that they hate. The irony is, I actually like my job and I don't desperately have to go there.
It is better to own an old car that you own outright and save to buy a new one than paying it off.
Any loan these days is a rip off (hidden costs etc). If you suffer a little while driving the old and unglamorous, I think, this is how you get ahead of the game. It's very nice to walk into anywhere (any shops) and pay cash. You don't have buyers remorse, you just own it and that's it.
I don't care if people look down there noses at me and judge me, they don't know, I am in a better position than they are. I am not wasting my money paying monthly loan fees and interest which is dead money. My money is my money and what I get paid is mine. It's a nice peaceful feeling. I bet some people can't sleep at night with worry with all the bills they have.
I might be wrong, but the impression I get is that having a nice set of wheels in the US is a huge status symbol. Like a validation. Well that's fine, but if you don't own it, then it's not reality. It can be taken off you at any time. Personally myself, I wouldn't risk it. Not judging others, that's their choice if they want to live like that, but I prefer my peace of mind the way I get there.
All these people who are speeding passed me on the freeway are rushing to a job that they hate. The irony is, I actually like my job and I don't desperately have to go there.
It is better to own an old car that you own outright and save to buy a new one than paying it off.
Any loan these days is a rip off (hidden costs etc). If you suffer a little while driving the old and unglamorous, I think, this is how you get ahead of the game. It's very nice to walk into anywhere (any shops) and pay cash. You don't have buyers remorse, you just own it and that's it.
I don't care if people look down there noses at me and judge me, they don't know, I am in a better position than they are. I am not wasting my money paying monthly loan fees and interest which is dead money. My money is my money and what I get paid is mine. It's a nice peaceful feeling. I bet some people can't sleep at night with worry with all the bills they have.
I might be wrong, but the impression I get is that having a nice set of wheels in the US is a huge status symbol. Like a validation. Well that's fine, but if you don't own it, then it's not reality. It can be taken off you at any time. Personally myself, I wouldn't risk it. Not judging others, that's their choice if they want to live like that, but I prefer my peace of mind the way I get there.