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Cobra Forums
2020+ Shelby GT500 Mustang
20k Over MSRP!
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<blockquote data-quote="Snoopy49" data-source="post: 16244799" data-attributes="member: 138649"><p>Buyer is spending someone else's money and paying it back over 80 months.</p><p></p><p>Someone is loaning you their money because you can not afford to pay for it with your money. I was brought up to consider any loan, with the exception of home, health related or emergency loans, as a bad idea and was to be avoided.</p><p></p><p>When I want something the first question I ask myself is, do I have enough money to pay for it and if the answer is no, I wait until I do. Most people ask themselves is, after paying all my other payments, how much money can I afford to payout for another loan? Debt is constant, income is not, you lose your job, you still owe the debt.</p><p></p><p>I have had friends with $40,000 in credit card debt who refinanced their homes and added their credit card debt to the loan and then bragged that they had paid off all their credit cards and were debt free. Three years later all the cards are maxed out again and the refinance solution is used again.</p><p>Not all people see things the same way.</p></blockquote><p></p>
[QUOTE="Snoopy49, post: 16244799, member: 138649"] Buyer is spending someone else's money and paying it back over 80 months. Someone is loaning you their money because you can not afford to pay for it with your money. I was brought up to consider any loan, with the exception of home, health related or emergency loans, as a bad idea and was to be avoided. When I want something the first question I ask myself is, do I have enough money to pay for it and if the answer is no, I wait until I do. Most people ask themselves is, after paying all my other payments, how much money can I afford to payout for another loan? Debt is constant, income is not, you lose your job, you still owe the debt. I have had friends with $40,000 in credit card debt who refinanced their homes and added their credit card debt to the loan and then bragged that they had paid off all their credit cards and were debt free. Three years later all the cards are maxed out again and the refinance solution is used again. Not all people see things the same way. [/QUOTE]
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2020+ Shelby GT500 Mustang
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