[Workaccount2]

Let me tell you something about people...

You can sit them down and explain precisely why buying something, like a new car, is a bad financial decision and that they cannot afford it anyway, and then watch them go buy it anyway. To the point where I have seen people laugh about how dumb of an idea it is, while in the act of doing it.

The "I wish someone explained to me..." that comes later when it all falls apart is largely just licking the wounds of their damaged ego.

[AnthonyMouse]

> You can sit them down and explain precisely why buying something, like a new car, is a bad financial decision and that they cannot afford it anyway, and then watch them go buy it anyway. To the point where I have seen people laugh about how dumb of an idea it is, while in the act of doing it.

And this is actually fine because it comes with its own integrated stupidity penalty. We only need the government to impose a penalty if the person who needs the disincentive when making a decision is different than the person being affected by it.

[bloomingeek]

This is a big "hell yes" for me! Some seem to think that mortgaging themselves up to their eyebrows with huge houses and the latest vehicles is a good idea. As an example: I needed a pickup truck back in 2021. I settled on a ram and purchased the base model. The only options were a towing package and the medium level smart audio/display system for a cost of $27K. I could have easily spent $50K and got a whole lot of other options, but determined the extra cost was too much and the options weren't needed. (The only reason I purchase a new one is people tend to drive like maniacs in trucks where I live, so I didn't trust a used one.)

I digress, the numbers alone are the reason for the base model, because I could use the extra money somewhere else. And yes, new vehicles do depreciate too much. However, if you keep the vehicle for it's entire lifespan, the hit isn't so bad.

[BobbyTables2]

I’m always amazed at the number of 20-30 year olds driving luxury SUVs and souped up trucks.

Feels like I’m in a bizarro world where logic and math no longer apply.

Even if I could easily afford it, it seems crazy between the purchase cost and the yearly insurance cost.

They could still have a new car and use the money saved to pay down mortgage or invest it.

[adabyron]

Most humans have to learn the hard way no matter the age.