NINE YEARS IN HELL
Okay, so I’m talking to our worker who forces the evil teachings of Dave Bankers Whore “Invest All Your Surplus With My Buddies And I Pinkie Promise They Won’t Steal Any Of It” Ramsey on our poor unsuspecting Food Bank Clients ( I’m kidding. She mostly is there not only to “teach” budgeting but to weed out the prolific spenders who use our services as a way to stay in debt for luxuries. Our town might be getting crowded, but it still isn’t much more than two miles long. No one “needs” a car here. But a $600 a month car? That is just pure stupidity ). She was saying that the average US car payment is over $400. The average Elko Nevada car payment is around $800! Obviously people think nothing of buying a thirty grand car, and here nothing thought of buying a pimped out $60k pick-up truck here. And she mentioned something I had no clue on. They now have Nine Year Car Loans ( technically a few months over eight years )! I was aghast years ago when they came out with a seven year loan, something I thought only the most retarded of the morons would do. Your car loses, what?, a fifth of the value when you drive it off the lot? More? And then you stretch the payments out so long it is like having an underwater house for another twenty years with a mortgage. A nine year loan seems to me to be about as bad of an idea as a Japanese two generational home loan.
I didn’t sleep right when I had a five year mobile home payment ( when I was in Florida. And that was $3k down and $12k carried ). I lived like a bare assed savage to pay down my current lot in three years ( originally $6k plus eight percent interest owner financed ) because THAT caused me concern ( I still had a paid for lot way out of town but this one allows me to get to work every day on a bike, plus through the winter snows ). To me, every day was a potential lay-off day, a potential income drop to zero. Now, yes, granted, cars can be repossessed and so aren’t necessarily a life changer if you can’t make payments. In theory. In practice, most people for decades have moved as far away from their jobs as was necessary to afford a house. And until recently cars weren’t too god-awfully expensive. It was cheaper to mortgage in suburbia and make a car payment with extra gas than rent and a car payment with far less gasoline. But times have changed and gas is three times as expensive as are cars. And wages have hardly gone up at all. So you might have kicked the can down the road by going from five years to nine on a car, but if you lose it you might as well be unemployed. So now you are in hell the whole time hoping nothing goes wrong. And after those nine years, you start all over again because Detroit STILL pushes out crap that doesn’t last too much past the hundred thousand mile mark. A treadmill in Hades, if you ask me. I don’t know why anyone would subject themselves.
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