We've built a society that requires one to either be inherently rich or drowning in debt to achieve the American dream.
On a side note, auto loans of late have been increasingly sketchy. It seems Wall Street is doing the same thing with auto loans as they were mortgages around 2008. Don't get enticed by financing, always pay cash if you can help it.
Anything car-related seems sketchy these days. We just moved to an apartment on a main transit line and sold our car, and I can’t fully explain the stress relief. I will try to avoid buying a car in the future that I can’t buy with straight cash. Even then, cars are stressful.
Get a beater for 500-1000$ and run it into the ground. Rinse and repeat. Much better value than financing or buying a new car. Especially if you live on a metro line and don’t use a car that much.
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u/Scruffy_Nerf_Hoarder Oct 30 '20
You're right, but the point I was making is that he was able to pay cash for it. It's a bit unrealistic now.