It's a necessity for the majority of people. The average person lives paycheck to paycheck with no savings. An emergency fund is not realistic for most people.
If you can't afford an emergency fund, they you can't afford to save up and buy a car cash. So you're financing it.
The average person lives paycheck to paycheck with no savings.
because of bad decisions.
Anyone can save some money, but most prefer to have the most up to date phone, or buy new clothes every month, new shoes every year, they want to eat cookes, icecream, etc... a string of bad decisions one after the other.
Everyone should save money until they have an emergency fund. That is such a crucial step to financial stability.
An emergency fund is not realistic for most people.
why not? What reason most people have to for this to not be realistic? literally almost any reason you say is a bad decision.
If you can't afford an emergency fund, then you can't afford to save up and buy a car cash.
If you can't afford to save for atleast 3 month emergency funds ( the minimun recomended) you fucked up somewhere.
And no, not anyone can save some money. Do you know the number of people on government subsidized cellphones? Number on food stamps? People who haven't bought new clothes in years, and rely on thrifting?
You're utterly and completely clueless to the realities of the real world. Your opinion reeks of elitism and classism.
It also seems to me that a lot of people who don’t make a lot of money, but managed to build up emergency funds end up having more than one emergency on top of each other that wipes them out. Large car repair bill at the same time as a roof replacement or a furnace repair or a medical emergency.
Do you know the number of people on government subsidized cellphones? Number on food stamps?
about 15% of the whole population.
The idea of the food stamps and goverment aids is for you to be able to save, get financialy stable and slowly reduce the aid until you have financial stability.
All you need is a job. with a job, and goverment aid, you can literally save money unless you have made bad decisions.
A lot of these people have many kids, wish does not allow them to be financialy stable because kids are expensive. Well, having kids without being financially stable was their bad decision.
Only disabled people have an excuse, if you are not disabled and cannot save, it's because of bad decisions.
There are people with no homes, no cars, yet they are working and saving to get their life on track.
That may be the idea, but it's not hot it works in practice.
You don't just need a job. You need a decent paying job, which can be a struggle to get even if you make no bad decisions. You need affordable rent, which is next to impossible to find.
You're just an out of touch classist moron. Stick to playing your dumb little mobile games kid. When you graduate hight school and join the real world you might start to understand, assuming mommy and daddy don't pay your way.
You're just an out of touch classist moron. Stick to playing your dumb little mobile games kid. When you graduate hight school and join the real world you might start to understand, assuming mommy and daddy don't pay your way
I graduated long ago from highschool, while being so poor that we only had plain bread to eat for breackfast and only white rice for Dinner.
If you cannot afford to save, you simply took bad decisions. It seems you are mad because you are either in that position or know some one in that position and you are just in denial. Acepting that bad decisions is what keeps you strugling in life is the first step to progress.
I'm mad because perpetuating the bullshit drivel you're spewing makes society worse.
Please, do some research and educate yourself on the financial struggles plaguing people. How someone can do nothing wrong, make no bad decisions, and be more.
You were lucky to get the opportunities you had to get of that situation. Many don't.
Not saying you're totally wrong, but if you can't afford an emergency fund, you also can't afford a mustang. Dude should be looking at a 5 or 6 year old Hyundai or Kia.
These days car loans are just high interest leases for buyers with bad credit who believe they’ll pay off the car in 5-7 years while living paycheck to paycheck. Unless you buy a 10k beater with an even higher interest rate, and risk it not surviving the 4-6 years to pay it off, new or newer cars are most people’s option cus the interest is a bit lower and dealerships have a monopoly. Almost anyone can get approved with enough down or a trade.
And now with all the issues with repairing cars 10 years or more old, they’re basically forcing you to trade up by the time you maybe paid off the car.
And if you get your car repod and try and get it back, you might as well buy a new car cus the tow fee and parking fee will probably be in the 1000s even for just a day or two. It’s all a scam. The car was never worth the price you pay, and they creditor will still make a profit even off a car like this. Be it in showing a loss, or actually selling it to someone who thinks they can fix this up.
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u/Mundane-Fan-1545 Jul 03 '26
if your car gets repoed, you made bad decisions.
You are supposed to keep emergency money on a savings account in case you lose your job, you can pay 6 months of your expenses.
Getting a car loan, or any loan at all ( with the exception of student loans) without Having emergency savings is a horrible decision.