It’s still cheaper than 30k$ new car over 5 years. It’s like two payments for used vehicle and couple more for fixing it right up. Also, pay a good mechanic to inspect car you like prior to buying. Saves money in the long run.
that’s not the point. the point is that there are people who can’t afford to save money in the long run. not like metaphorically can’t afford, like literally mathematically cannot afford.
they are trapped by their existing financial burdens which they already cannot meet and which are getting larger every month thanks to compound interest.
inflation, which normally has the effect of reducing the value of debts over time, is instead making their financial burdens effectively larger too. as inflation drives up the cost of living, wages stay the same and they have ever less of their income available to make debt payments as a result.
It’s still cheaper than 30k$ new car over 5 years. It’s like two payments for used vehicle and couple more for fixing it right up. Also, pay a good mechanic to inspect car you like prior to buying. Saves money in the long run.
that’s not the point. the point is that there are people who can’t afford to save money in the long run. not like metaphorically can’t afford, like literally mathematically cannot afford.
they are trapped by their existing financial burdens which they already cannot meet and which are getting larger every month thanks to compound interest.
inflation, which normally has the effect of reducing the value of debts over time, is instead making their financial burdens effectively larger too. as inflation drives up the cost of living, wages stay the same and they have ever less of their income available to make debt payments as a result.