Quote:
Originally Posted by Dadhawk
There's a huge difference between borrowing money for an appreciating asset and a depreciating one. Apples and oranges @ Spuds (or would that be onions and potatoes?) |
My point was that the statement that debt was NEVER a good thing was not true. It also applies to cars. If you don't have reliable transportation, it's hard to have a job. Reliable transportation is not cheap. Unreliable transportation, though less expensive, may even cost more in the long run than interest on a car loan, and expenses aren't as predictable. The whole connecting having a job to affording a car thing should be obvious.
Not defending the whole buying above one's means to pay back deal, just providing the counter-argument to 'debt is bad'.