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What doesn't make sense about it? I'm spending an extra $900 to be able to afford a vacation I otherwise couldn't. Suppose some friends are going on a trip and
by coldpie 11y ago
What doesn't make sense about it? I'm spending an extra $900 to be able to afford a vacation I otherwise couldn't. Suppose some friends are going on a trip and I'd like to go along; suppose the Olympics are happening; suppose I want to do a trip while I'm still in my 20s; there's plenty of time-sensitive situations in which an extra $900 is worth spending to allow things to happen sooner.
- CaptSpify 11y agoWell, the $900 is a big assumption. You could have just as easily lost all that money. To be clear: I'm not saying your wrong, I'm saying I don't understand. It seems like there's just an assumption that you'll end up with more money, despite there being a risk that you won't?
- coldpie 11y agoWell, you have a job, right? That's where the money comes from. Lenders use your credit rating, income, length of employment, age, and other factors in determining a loan's risk. You budget $X per month for your loan repayment, and you repay it. Three years later, you have repaid the entire loan, plus the $900 interest, and everything is square.