Honest question, but do you expect everyone who needs a car to have thousands saved for the purchase? Just in case you’re not in the US, our used car market has exploded in pricing, gone are the days of a semi reliable sub 5k vehicle.
If you don’t have a few thousand saved up, maybe find a cheaper option? A scooter or something? And if you really have no other option, get a proper loan rather than putting it on a credit card.
Yeah, my state is larger than England with population of about 10 million with no public transport. Not to mention our particularly harsh winters that would make a scooter impractical for 6ish months out of the year.
Most everyone buying a car does get a traditional loan, did I miss something stating people were using credit cards? Also, a lot of commutes include highways which scooters/mopeds can’t reach the speeds necessary. Unfortunately cars are a necessity for many outside of the few cities that have actual mass transit.
Yes but the article itself breaks the debt down into credit card, mortgage and auto loans. That’s where I got confused when you mentioned people using credit cards to buy vehicles.
Buying cars it seems like.
Getting a loan to buy a car just seems crazy to me
Honest question, but do you expect everyone who needs a car to have thousands saved for the purchase? Just in case you’re not in the US, our used car market has exploded in pricing, gone are the days of a semi reliable sub 5k vehicle.
If you don’t have a few thousand saved up, maybe find a cheaper option? A scooter or something? And if you really have no other option, get a proper loan rather than putting it on a credit card.
But yeah, maybe I’m too European to understand :)
Yeah, my state is larger than England with population of about 10 million with no public transport. Not to mention our particularly harsh winters that would make a scooter impractical for 6ish months out of the year.
Most everyone buying a car does get a traditional loan, did I miss something stating people were using credit cards? Also, a lot of commutes include highways which scooters/mopeds can’t reach the speeds necessary. Unfortunately cars are a necessity for many outside of the few cities that have actual mass transit.
“credit card debt” is in the title
Yes but the article itself breaks the debt down into credit card, mortgage and auto loans. That’s where I got confused when you mentioned people using credit cards to buy vehicles.