Comment on Anon tries to understand credit scores

• KoalaUnknown@lemmy.world ⁨15⁩ ⁨hours⁩ ago

  The average person does not have to financial means to pay for a car or school without loans.

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  • ryathal@sh.itjust.works ⁨14⁩ ⁨hours⁩ ago

    A car is absolutely doable without financing l. It’s a poverty trap to finance a car. What you can’t do is have a brand new car.

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    • RamenJunkie@midwest.social ⁨30⁩ ⁨minutes⁩ ago

      It used to be, butnthse days the average person can barely afford groceries without a loan.

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    • phlegmy@sh.itjust.works ⁨12⁩ ⁨hours⁩ ago

      Same with phones. Buy a second-hand flagship from a couple of years ago (eg pixel 8), and use a pre-paid plan.

      It’s not just a few hundred dollars saved on the phone, it’s also a few hundred per year on less overpriced contracts.

      Prepaid plans have to be more competitively priced because you can switch at will.

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      • shalafi@lemmy.world ⁨9⁩ ⁨hours⁩ ago

        I buy all my phones off eBay from reputable resellers. There are plenty that make a living at refurbishing phones, rate each one on a scale, post pics of the phone you will receive. I pay around $120 for mine, $180 if it’s a bangin’ deal and I really want that unit.

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    • sp3ctr4l@lemmy.dbzer0.com ⁨11⁩ ⁨hours⁩ ago

      caredge.com/…/used-car-price-trends-for-2025

      In October 2025, the average used car listing price sits at $25,512.

      moneyzine.com/…/savings-statistics/

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      … that’s as of 2022.

      Its worse now, considerably.

      But, even assuming 2022 savings levels… that’s half the population that would need their savings to multiply by a factor of ~x42.5, to be able to afford the average used car, without financing.

      … You are wildly, incredibly out of touch.

      Sure, yes, its technically possible, technically doable, in approximately the same way that it’s technically possible and doable that I could become a millionaire by the end of 2026.

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      • ryathal@sh.itjust.works ⁨9⁩ ⁨hours⁩ ago

        The average cost of a car is wildly skewed by luxury models and the absurd prices of new cars. The market has gotten more expensive, so it is more difficult to find reliable cars in the sub 5k range, but under 10k is possible. It’s possible to save a few hundred bucks a month and get progressively better cars without financing them, because depreciation isn’t significant at the low end of the market.

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    • BananaIsABerry@lemmy.zip ⁨12⁩ ⁨hours⁩ ago

      • have no car
      • cannot work
      • take loan
      • buy car
      • can go to work (and pay for car)

      How to skip steps 2-4?

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      • ryathal@sh.itjust.works ⁨12⁩ ⁨hours⁩ ago

        Pay cash for a car that runs. You aren’t getting a loan without income in the first place.

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• Korhaka@sopuli.xyz ⁨15⁩ ⁨hours⁩ ago

  That is what I have done, I don’t like that debt either and some cunt at the bank getting 2/3rds of my housing expenses is only slightly better than a wanker of a landlord getting all of it.

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