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Credit became too plentiful and easy
Posted by BlueWhite (more from BlueWhite) on Sun, 14 Aug 2011 06:47:46
In Reply to: Financing a vehicle argument?, Philip Schall, Sat, 13 Aug 2011 18:16:35
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I don't think it's fair to say having a car payment is "never a good idea" as one post put it. It really depends on what one values. If having a new(er) car brings comfort, pleasure, peace of mind, etc. what is wrong with a "reasonable" car payment?
People spend (if not overspend) on many things that aren't investments e.g. cable tv plans, vacations, going out to eat, etc. Should we eliminate those too? For some, cars bring a lot more enjoyment than other expenses and are well worth a payment.
The real problem, which became quite apparent over the last decade or so, was with the banks/financial institutions giving loans to people that shouldn't have had one, at least not for the amounts granted AND the borrowers taking on these inappropriate loans. Credit became way too plentiful and easy which helped create an economic disaster.
posted by 96.237.237...
Posts in this Thread:
- Financing a vehicle argument?, Philip Schall, Sat, 13 Aug 2011 18:16:35
- this is simple.., AlS, Sun, 14 Aug 2011 14:20:17
- Your results may vary, No Snaab, Sun, 14 Aug 2011 07:49:18
- Some this is cash flow, Noel, Sun, 14 Aug 2011 07:16:38
- Credit became too plentiful and easy, BlueWhite, Sun, 14 Aug 2011 06:47:46 <-- Viewing This Message
- Re: Financing a vehicle argument?, Dan-O, Sun, 14 Aug 2011 05:50:38
- I'm in agreement with you, Joeychess, Sun, 14 Aug 2011 02:50:31
- Cash is King, smt, Sat, 13 Aug 2011 22:22:07
- "Car payments are never a good idea" - Disagree, nwas, Sun, 14 Aug 2011 10:22:44
- Re: "Car payments are never a good idea" - Disagree, Justin VanAbrahams , Sun, 14 Aug 2011 10:51:09
- My "Rich" Dad who quit school at 16..., Steve T., Sun, 14 Aug 2011 17:55:24
- Re: My "Rich" Dad who quit school at 16..., TML , Wed, 17 Aug 2011 17:30:20
- Re: My "Rich" Dad who quit school at 16..., rico567, Tue, 16 Aug 2011 18:56:11
- That was a great story, thanks. NM, AeroBaron, Mon, 15 Aug 2011 13:12:44
- Re: Financing a vehicle argument?, George K, Sat, 13 Aug 2011 21:21:12
- I financed..., SRS900S, Sat, 13 Aug 2011 19:58:54
- Re: Financing a vehicle argument?, JerseySaab , Sat, 13 Aug 2011 18:29:55
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