More advice from our parents being cast aside. My dad used to say, you should get a three year car loan. He thought four years was the maximum if you need to stretch out and lower the monthly payment. Otherwise , he said, you can’t afford the car.
Such wisdom is seemingly gone with the wind nowadays.
I know a young fellow who is a salesman at a local Toyota dealer. He tells me he has lots of customers every day but very few who can qualify for credit. Spends 90% of his time working credit deals and 10% actually selling cars.
Many people today would rather go into the never never card and show off driving their fancy new vehicle or have that expensive furniture or even have that big house than rather live debt free and have no stress