Comment on Anon tries to understand credit scores
TubularTittyFrog@lemmy.world 13 hours agoit’s fine to finance a car you can afford. it may even be benefincial. i can take aout a 20K loan at a near 0 apr, i can take that 20K and invest it and get a return on it. which is better than dumping it all at once into a depreciating asset.
the problem is that people fiance cars they can’t afford.
ryathal@sh.itjust.works 13 hours ago
Having 20k plus the cash flow to pay a 20k loan is a totally different scenario than buying a car for cash. If you need that 20k to pay the 333/month, it’s stupid to trust the market isn’t going to go down, and simple savings would net you maybe $500.
TubularTittyFrog@lemmy.world 11 hours ago
the market hasnt’ gone down in like 15 years dude.
ryathal@sh.itjust.works 10 hours ago
It’s gone down moth over month many times though. If you are dependant on that principle month to month it’s insane to trust the market.
TubularTittyFrog@lemmy.world 10 hours ago
all that matters is the value when you cash out. if you are sitting there agonziing about an assets value month to month you’re doing it wrong.