Yep. They even tried to convince me that I could afford it and that instead of buying the used car I should buy new because blah blah blah...
I laughed at them, Said "Now im not buying anything from you" and walked out. They did the typical "follow you out" thing and I just told them I don't appreciate being treated like a moron.
It took a few months to find a similar car half a state away but I ended up buying that one instead and they didn't treat me like a moron.
Some sales places pay their guys more on securing a financing deal than the actual product being sold, and the buyers only consider what the monthly payment is and don't pay a single thought towards what the total amount they will end up paying.
Yeah, For anyone too lazy or dumb to do the math.
If you are getting a Loan for anything and you do not pre-pay and "over pay" the principal. You are paying at a minimum 2x what the actual cost is.
Ex. You get a loan for 1k to buy a fancy bike. If you just pay the required minimum and you got a "good" rate. That bike is going to cost at a minimum of 2k over time.
It is worth it to save and buy in cash rather than finance something.
[edit] Oh, Also. Its fucking retarded to buy ANYTHING that is a depreciating asset on "credit". Good example, A TV. It might cost 1.2k today but the minute you take it out of the box its at best worth $600. Give it 3 years and now its probably worth 200$ (at best). If you put that on credit or financed it? You fucked yourself in a huge way.
There are very good reasons that our ancestors forbade usury.
(post is archived)