lots of people define affording it as being able to make the monthly payments. they've sold us this monthly payment thing so well that we just accept it. the thing is if you could afford the note you could also afford to save up for it and buy it outright and pay thousands less for it. it would just take more self discipline.
we've become a society of short term thinkers. if you walk up to a person and say i'll sell you a car for $30,000 or you could pay $35,000 for the same car how many people will say i'll pay $35,000 for that car? the answer these days is most people would cause they could break that $35,000 down to monthly payments and get the instant gratification of having the car (that they really don't own yet) now.
when we're 60 or older and we look back at our lives and see all the finance charges and interest we paid for the ease of monthly payments it'll probably add up to 10s of thousands if not hundreds of thousands of dollars over the cost of our lives.
Warren Buffett a billionaire was driving a $40K Lincoln Towncar all i'm saying is the car doesn't mean much not that if i was a millionaire i'd do x.
we've become a society of short term thinkers. if you walk up to a person and say i'll sell you a car for $30,000 or you could pay $35,000 for the same car how many people will say i'll pay $35,000 for that car? the answer these days is most people would cause they could break that $35,000 down to monthly payments and get the instant gratification of having the car (that they really don't own yet) now.
when we're 60 or older and we look back at our lives and see all the finance charges and interest we paid for the ease of monthly payments it'll probably add up to 10s of thousands if not hundreds of thousands of dollars over the cost of our lives.
Warren Buffett a billionaire was driving a $40K Lincoln Towncar all i'm saying is the car doesn't mean much not that if i was a millionaire i'd do x.