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| Those have been around along time. Even on farm machinery. Can't make the payment so they trade for new. I saw that in the late 70's and 80's.
Those farmers knew they were in trouble and were trying to buy time to work out of it. I get doing that if that is all you can do.
The dealers that did that also knew what was going on.
The ones I do not understand were the guys doing the 9 - 5 gig and telling me his new 911 Porshe cost less than the 1 year old Toyata he had been driving.
Or the guy that said his leased pickup cost less to drive than owning. This particular guy drove 4 blocks to work every day. At the end of the year he was under 300 miles.
Both of those guys never understood the monthly payment was not the true cost of the vehicle. I couldn't explain it either.
No concept of paying off a car.
Folks like this run the world now, which explains the situation we are in. Especially in government. | |
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Car loans
