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Fred, you are right.
One of the guys I worked with was married and lived paycheck to paycheck. He talked about going to the local 7-11 to buy groceries. He was convinced he HAD to have a new car as his old car was starting to need repairs due to total lack of maintenance from him. His ONLY buying point was to find a dealer that would trade in his old car, and keep the monthly payment the same or lower than his current payment. He was upside down on his old car loan, and ended up owing over 12 grand on a car that was maybe worth 6 grand. He of course thought I was just really lucky to be driving an old car that was long paid for and it was just luck that kept it looking nice and running right.
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Glen
49 Year member of the Porsche Club of America
1985 911 Carrera; 2017 Macan
1986 El Camino with Fuel Injected 350 Crate Engine
My Motto: I will never be too old to have a happy childhood!
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