In my opinion, one of the primary reasons for the debt crisis in this country stems from the fact that around 84% of Americans who purchase a car require a loan/financing…with over 1/3 of those loans being sub-prime loans (a loan with a terrible interest rate similar to a credit card). Aside from a home, cars are, on average the most expensive item that people will spend money on in their lifetime. Financial guru, Dave Ramsey, constantly rants about this topic and I agree wholeheartedly with his sentiments…
[video=youtube;NvZJb_ydvUk]https://www.youtube.com/watch?v=NvZJb_ydvUk[/video]
As he mentions above, I see countless neighbors, friends, family, acquaintances, and co-workers essentially ruin their chance at financial independence because of their sense of entitlement and concurring with the Big Jew Lie that “I’ll always have a car payment.†As we all know, a brand new car is literally the worst investment one could ever make, given their unavoidable and immediate depreciation.
I know guys with a $600/month truck payment. I know housewives who lease (a principle even worse that financing) luxury cars for $500/month. I work with a guy that has a 10-year, $200/month boat payment. Heck, I even know someone with a lawnmower payment! Who could afford this?
Example...my wife’s sister and her husband recently purchased two brand new, fully-loaded Subarus…which combined cost around $80,000. Both cars were financed with $0 down, which means they will likely eventually pay a total of $100,000 for two cars that’ll be worth $10,000 total before the term of the loan is up. At the time, I begged them not to do it and even offered to fix their current cars (which needed minor repairs, but were paid off) in my garage for little/no charge if they ever broke down. They headed off to the dealership.
Couple this sheer idiocy with the fact that most white Americans already have massive student loan and credit card debt, and it’s no wonder why everyone is “broke†and under the thumb of Jewish Bankers.
I’m surely no financial genius (I know nothing about investing and I'm not interested), but my wife and I have zero loans/debt, never bought anything we couldn’t pay cash for, and have always driven old, high-mileage “beater†cars with minimum insurance coverage. I do have a "Discover" credit card in case of emergencies, but have never used it once. The only loan I’ve ever taken in my life was for my house ($200,000 bi-level with 9 acres in rural PA, around $60,000 down payment at closing) that I just recently paid off after 5.5 years. The ONLY reason I was able to put so much money on my mortgage for so many years is because I had no car payments. Sure, I'd spend a couple hundred dollar in parts each year to maintain my "junkers," but probably the equivalent of a single monthly car payment for most.