Is it something wrong with buying a car on credit? The answer is obvious. Unlike a house, you new shinny car are losing its value starting the day you buy it. The value is dropping even more as you use it. If you buy a car on credit, there is a substantial interest payments on that rapidly decrease in value. And besides those hard facts, you still need to pay steep costs for insurance, registration and maintenance of an other expensive fee by just having car. (more…)

Let’s drive home a basic fact of life short of the occasional hermit, monks chanting away in some far-flung monastery, or the most dedicated of urbanites who hasn’t seen an open parking space since Eisenhower was president, almost everyone needs a car. That truth takes on an even greater scope in the United States, where car ownership supersedes necessity to blossom into an absolute God-given right. (more…)