Quote:
Originally Posted by SteveinArizona
I completely agree if the person in question is buying/leasing a BMW/MB/Audi,Lexus, etc. But if the person is doing that on a basic economy car, that may be all that person can afford and the person may have no other choices.
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Exactly. My mother-in-law, even though she could afford to buy a very expensive car (she's very frugal) financed a Hyundai Sonata for 9 years at 0% financing! She drives MAYBE 2,500 miles per year so will own this car for probably 15+ years. There are TONS of people out there that do this.
So to your point, even if the interest isn't 0%, many people just need basic transportation and have to extend loan amounts just to not overextend themselves in the immediate term. It's stupid on a luxury car, but lots of people are stupid lol.