[Bartman387]

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I dont mean to. But, these people are talking like they need to get a car loan. Yeah, you need credit if you plan on buying everything you own on installment plans, but please explain why it makes sense to buy a car with credit?

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Many people don't have tens of thousands of dollars saved up. And for a lot of people, a car is a necessity to get to work. So they take a loan to buy one. Now, if people were smart, they'd buy an affordable used car that cost a couple thousand so they'd be able to pay it off in a short period of time. But of course, many buy expensive new cars that they pay over 3+ years at bad rates. This is obviously a bad idea.

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So why are you arguing with me? This is exactly what I'm talking about, buy a an reliable used car for a couple grand rather than leasing a 30k car that you have no business owning.


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But home debt is a smart move for most people who don't have the cash to buy a home before the age of 60. Education loans are smart since you are able to repay these loans after you graduate at very good rates. And loans to start businesses is pretty much an investment rather than a debt.

Your blanket statements of "pay cash for all" is unrealistic for most people under uber-wealthy status.

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I didn't mean to generalize into the home and student loan area, I do agree that these are good, I've taken advantage of them myself, and I know little about business loans, so I wasn't thinking in this area.

But, too many people buy too many things, especially on credit, simply because they feel they need it and never consider if they can afford it. As a recent grad who has only incurred student loan debt, I don't see it being as impossible as most seem to think.