Quote Originally Posted by TRPLXL2 View Post
Why is it sad to have a car payment??

I have no credit cards, and no outlying bills. I could pay cash for a car but why bother?? I use the car payments for a great credit builder, mortgages and car payments are the two best forms of building credit. Different strokes for different folks..

Its sad that most people think that it normal to owe money on a car, they just accept paying interest and payment, so they write checks that could be put into their savings account instead is going to a dealership/bank. They pay off one car then trade it in and get into an car payment. A vicious cycle. Plus most people buy and start a payment that they can't even afford. They get into trouble on down the road with the payments and guess what they owe more money then it is worth. That is why it is sad to me.

You say you can pay cash for a car, so are you saying you just like paying extra money for interest?

Credit builder? Building an imaginary number score, a score that disappears after 7 years if you do not get into new debt.

People do not even have to have a credit score to get a loan to buy a house anymore. Some mortgage companies are actually doing research or interviewing people that apply for a loan instead of looking at an imaginary number to approve the loan. No credit score is just as good as a good credit score.

I tell you this because that is my personal belief with money, I do want to get into any debt (other than a mortgage but a good down payment). Save the money first then buy it.

But like you said different strokes for different folks