Join Date: Oct 2009
Location: Swarthmore, PA
Thanked 95 Times in 84 Posts
Rep Power: 8
...The growth of financing has played it's part as well- remember back when you could only crank a car loan out to 48 months? Now with 84 month financing, you can buy twice as much car as you can really afford, and it will last almost as long as the payments. Same thing with boats- if you can run the amortization out to 240 months, then the difference in MONTHLY cost (because that is all people look at, is what fits the monthly budget. Yeah, I know, you're saying, you're different. No, you're not)...
Yes I am different. I paid cash for my boats, for my cars (including my original 1977 Honda Civic
), for my children's college, for everything except my house (but I paid 50% down for that). I use credit cards all the time, but I pay them off in full every month, and get a 1%-5% rebate back depending on category of purchase.
Not everybody is the same. It is possible to live without incurring huge debt. You just need to show restraint and save up ahead of time. I admit, it does conflict with the "gotta have it now" mentality of kids today, as promoted by everyone from Oprah to Trump.
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2001 Catalina 34MkII Breakin' Away (at Rock Hall Landing Marina)
PO of 1998 Catalina 250WK Take Five (new owners relocated to Baltimore's Inner Harbor)
1991 15' Trophy (Lake Wallenpaupack)
1985 14' Phantom (Lake Wallenpaupack)
Last edited by TakeFive; 05-02-2011 at 09:58 AM.