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Number of Days Since Wealth was Supposed to Trickle Down
15372
Anyday now
bUt The eConoMy is BoomiNG
I heard there were places financing pizza delivery like holy moly
I’ve been saying for a few years now that the source of the next economic crash is going to be these services. We are essentially allowing the everyday consumer to create lines of credit on lines of credit. How many people are using these to extend their credit cards that are already deficient?
except for large purchases where using a loan can actually make you more money (house), buy now, pay later has always been a scam imo. I have never understood purchasing a monthly price for a car that depreciates faster than the speed of light. It is actually terrible seeing all thosee luxurious cars and all those huge trucks that are all 60-70$k on the road in a place where the median and average salary is ~50k.
Honestly, sometimes you just need an auto loan to get out of the "stuck in an unreliable shitbox that leaves me stranded at random every other week and the AC doesn't work and it looks like shit and fuck this I want something nicer" hole.
I bought a nice new (ish) car about 8 years ago, and 350,000km later, it's still nice, still reliable, and I still enjoy driving it. Hell, it got me out of the shitty little town I was stuck living in, because I could finally trust my vehicle to go further than an hour from home (being Australian, leaving for any interstate city is at the very least an 8 hour drive, unless you live in Perth, then it becomes a 30 hour drive.) I don't regret getting a car loan for even a second.
In saying that... I'd never go for another loan unless I absolutely had to. I'll drive this car into the ground before I get another one.
Idk, if your only objective with a car is to go from point A to B, a well maintained Toyota with less than 150 000 km can be found for under 10k (even under 5-6k is doable) pretty easily in Canada. And idk for the average person, but I don't really see the point of financing a 5-6k$ car, seeing people are going around paying 500$ per month for a car that's mid range at best. Plus with a used Toyota you get cheaper insurance and very likely better fuel economy