Record number of defaults on auto loans

[DarkShadowFox]

Originally Posted by KALISPEL II

Most people seem to need a $30-50K new vehicle in order to fit their ego comfortably - and are willing to drown in debt & interest-charges for that ego comfort. Same with their credit cards likely. I personally prefer to be 100% debt free & not paying interest charges to anyone, outside of a reasonable, modest house mortgage perhaps (or auto loan less than $15K over 36-48 months maximum). Better yet, get 1.5 to 5% cash back on your credit cards each month by charging everything possible that you normally would purchase each month & paying it all off each monthly statement cycle.

say your average expenses like me, charging a credit card would only net me like 30$ extra a month, dont forget you also have interest tacked on each month.

[KALISPEL II]

Originally Posted by DarkShadowFox

say your average expenses like me, charging a credit card would only net me like 30$ extra a month, dont forget you also have interest tacked on each month.

You aren't charged any credit card interest if you pay off your monthly statement balance in full each month. $30 (or whatever) cash-back free money per month is better than $0 free money per month. That is extra free funds that I can donate to various animal rescue organizations, instead of letting the bank keep it for their shareholders.

[Dodge Aries K]

Originally Posted by KALISPEL II

That is extra free funds that I can donate to various animal rescue organizations, instead of letting the bank keep it for their shareholders.

That is a good idea. I donate and volunteer for the Midwest Shiba Inu Rescue so I'll start doing the same.