Does anyone buy a car today? I just wrote a check for cash for a brand new modest car and the salesman said nobody buys a car today. People just rent a car for a couple of years with a lease. Playing with a calculator it seems that leasing one car after another adds up to some serious money. Doing it once it sounds appealing but having to turn it in and get another lease the numbers start to get really high in the long run.
They either do that or take out a massive loan for 6 years. By the time they get done paying it off(if they ever do) its time for a new car.
I've got many friends that are financing like 3-5 different things. car,boat, motorcycle. Nobody puts money in the bank or makes investments anymore.
I cant say anything because were all young at some point and think we need to impress our buddys and show everyone you made it big.
At one point I was paying 500+ a month on a payment for a cts-v. Then I wised up, sold it and bought some piece of shit with cash. Saved up,sold it and bought something better. Thats how you build wealth not by taking out loans.