I talked to a guy at work years back that was paying 18% on a car note. I've also heard anecdotally that after the poor get their huge tax rebate checks, they go buy cars which they end up defaulting on in a few months. People do stupid things with money and cars.
On the upside, I've been keeping an eye on the used truck market. You can get a couple year old Silverado crew cab with under 15k miles for 30 grand. That's a hell of a deal for a 50 thousand dollar truck if you ask me. So keep defaulting on your loans people, I want a good deal when I purchase another vehicle in a year or two.
I talked to a guy at work years back that was paying 18% on a car note. I've also heard anecdotally that after the poor get their huge tax rebate checks, they go buy cars which they end up defaulting on in a few months. People do stupid things with money and cars.
On the upside, I've been keeping an eye on the used truck market. You can get a couple year old Silverado crew cab with under 15k miles for 30 grand. That's a hell of a deal for a 50 thousand dollar truck if you ask me. So keep defaulting on your loans people, I want a good deal when I purchase another vehicle in a year or two.
This reminds me of an old adage, "a fool and his money are soon parted."
This reminds me of an old adage, "a fool and his money are soon parted."
(post is archived)