Admiral Beez
Superstar
This guy's a fool. But lots of young men with no financial sense commit to these credit terms to buy a car they can brag about, even if they're living in their Mom's basement. You don't borrow money to buy a $50k car unless you can afford the payments without stressing your finances. Here's my rule(s) of thumb for buying vehicles..... pay 50% down. If you don't have it, then reduce your car target to something cheaper. Can’t afford a Lexus, get a Corolla. For $15k you can get some really good cars in this town, my cousin just bought a 2014 VW wagon with under 150k kms for $12k. There's no reason to buy a Lexus if you can't afford one, beyond peacocking, of course. If you need a car, for $5k you can get a car to get to where you need.I can't help but see there is a small but blabbermouthy part of the affordability "crisis" in people with no life skills blowing enormous sums of money they don't have because they are desperate to live instagrammable lives, and the media is happy to eat that up, because that also describes most members of what's left of the media. This guy probably made sure to tell everyone he met not only that he had a Lexus but that he had "a $50,000 Lexus." Yet he got a flat tire and couldn't afford a replacement? And somehow got a $3,000 loan to pay to replace a flat tire?
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