3 ms·
You have a good mindset. A lot of people view a car as a status symbol and derive its utility from a social point of view, which I think is financially unhealth
by twoheadedboy 8y ago
You have a good mindset. A lot of people view a car as a status symbol and derive its utility from a social point of view, which I think is financially unhealthy. To me all I care about is 1: How safe is it?. 2: How much will it cost me over its lifetime? And 3: Does it get me and my stuff where I want to? Everything else comes far behind these three things.
People really shouldn't be borrowing money to buy a car. It's pretty crazy how many people do this.
- d1zzy 8y agoDepends, borrowing money to buy a car and needing to borrow money to buy a car are 2 distinct things. I recently got financing for a new car because they gave me thousands of dollars discount for doing so. Over the course of the loan, if I pay it according to the full 5 year schedule they'll obviously get more in interest back but I plan to pay it off very quickly (and yes, I did make sure the financing contract allows to do that without having to pay off the entire schedule interest, only the interest accumulated until the time of the payoff). As for the general idea what people should do with their money, I try to avoid those discussions because it's just a matter of priorities. To you it's more important to use your money to do other things, to others it's important that they drive a nice car. Life is too short and we should spend it pursuing that which makes us happy.