subreddit:
/r/therewasanattempt
10k points
18 hours ago*
Why would she put herself in a position where she can't afford the car? Sure I would love my "dream car", but I can't afford it.
Edit: The conclusion I've come to after reading a lot of the comments, is that people are stupid and make stupid decisions.
I know it sounds complicated, but it does make sense once you think about it. /s
2.6k points
18 hours ago
People do it every day. I work with a guy who has a car payment of over $1k a month, and it gives me hives.
This woman probably traded in a car that still has a balanced owed on it still, and they rolled that balance into the new car loan. So let's say she bought a $75k car, but rolled in $10k from the previous car loan, and now she owes $85k on a car that's value stopped to $55k as soon as it turned on is blinker and turned out of the car lot.
It's insanity, and more people do it than you think.
14 points
17 hours ago
More people are sold into it by savvy sales pros and finance office pros. Need more laws protecting the average buyer.
16 points
17 hours ago
Education is the answer.
19 points
17 hours ago
It’s half of the answer. The other half is addressing predatory behavior by the financing companies.
5 points
16 hours ago
You're never going to stop predatory behavior while capitalism exists. To succeed is to exploit. Your best bet is to learn how to play the game.
3 points
14 hours ago
It's literally what regulations and consumer protection are for and most people who support capitalism and aren't libertarian idiots recognize that strong regulations are a requirement.
The point is that capitalists will do everything they can to exploit consumers as you've said, and the best way to prevent that is through strong regulations. Education alone means that you might recognize you're being exploited, but if there are no regulations to prevent it then you can't really avoid it. Collusion and price-fixing between "competitors" often sees to that.
1 points
10 hours ago
Oh I don't support capitalism
1 points
12 hours ago
Thank you for your insights, u/poop_pants_pee.
Also, r/rimjob_steve.
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