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Ridiculous Car Payments and the Waste
Do not normalize overpaying for a car
I don’t admit this freely, but I do occasionally watch TikTok videos. I have a reliable group of friends who send them over. Recently, I have seen some troubling ones involving ridiculous car payments.
I recently saw one where a guy was (I don’t know) bragging(??) about his $1100 a month car payment.
What I saw was a travesty. A guy in his mid-20’s to early 30’s standing in front of his Dodge Charger Hellcat talking about how he has an $1100 car payment for 96 months.
That is a cost of $105,600 for a car. That car will depreciate to around $20k in 5 years and he’ll still owe around $40,000. It’ll be worse is if he ends up trading it in and trying to roll that excess into the next misguided car purchase payment.
I am not insulting this man for his decision. We all want what we want. However, I am going to berate the system that made him believe that this is a good idea.
He’ll be giving (throwing, burning, tossing) away all that money and in the end have nothing that works for him. All that will remain is the bitterness of the monthly burden.
