Quote:
Originally Posted by akkando
Yeah a lot of people just have a monthly car payment budget. Since they plan to pay that out every month they are only concerned with what they can get for the same payment that's newer or better. If the payment stays the same it's like a no cost upgrade to them.
Of course if they kept a car and paid it off, they would have no monthly payment.
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I understand that, and that very mentality makes people spend way more money than they know sometimes. You've got to look at TCO, that's the most important thing. $500 payment over 4 years is very different than $500 over 6 years, even though its $500 per month