How do some people work minimum wage and drive such nice cars?
I mean i drive a $2000 corolla with over 100k miles on it. And im happy i have no car payments. I could probably get a nicer car but i rather save up money. Yet, some of my coworkers drives a brand new $30k jeep. How can some people spend so much money on a car?
- ProfGene.TogolotLv 71 month ago
They stay one step ahead of the Repo Man
- Anonymous1 month ago
We're all different, with different priorities. Some of us are smarter than others, and know carrying that kind of debt isn't the best move financially when you're making minimum wage.
Having transportation without a car payment is a smart move. Someday you'll be able to afford a new car (if you want one).
- 1 month ago
im trying to figure out how poor people on welfare csan afford brand new $30-$40,000 cars unless they are dping something illegal like selling drugs
- Christin KLv 71 month ago
They're in debt. That's the only way they can afford it. If you have even middling credit you can buy a car and pay $450 a month forever--or at least for 6 years.
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- ElGrandeLv 71 month ago
There's no substitute for wisdom, and it sounds like you may actually have attained some. Keep saving and you'll be wealthy far quicker than the others (who probably never will be).
Everyone's situation is different... some of these morons are so obsessed with their image, they don't mind going $40K in debt and blowing 75% of their wages on their vehicle... so, they ask mom and dad to co-sign. Some also know they have mom and dad to fall back on if they can't make the payment.
I was watching a local news station about 15 years ago when the new iPhone came out... one of the people interviewed said, "I skipped my rent payment to get this". I yelled at the TV: "You just summed up your ENTIRE generation's feelings in one sentence!"
- FLv 61 month ago
Some people seem completely unable to save and have to spend every penny and then some.
As a saver, I am doubting who is the smartest given the low interest rates. My 0.5% saving account is subsidising these people.
However, I’ve never had the insecurity of knowing I’m two paydays from being homeless.
- RichardLv 61 month ago
food stamps .
- Jay PLv 71 month ago
There are several ways, including having a co-signor or leasing a vehicle. That's assuming they're even paying for it. Some people are lucky enough to have vehicles gifted to them.
- Steve GuyLv 51 month ago
Well the people I know, they have good credit and they either lease the car which means they rent to possibly own for two years, or they get a three year payment plan. Minimum wage part time jobs in my state makes you 15k a year or something like that, but other states with $15 min wage it could make you almost 30k a year. Plus I know some people who refuse to work less then 55 hours a week, because they want to make as much money as they can.
- Anonymous1 month ago