Another car loan rant.

I wish I would just record the Dave Ramsey show. Twice tonight two callers called asking a question to solve a problem. What problem? Again car payments. The thing I loathe. The first story the 65 year old (seriously how the heck are you 65 and don't own your own vehicles) made the excuse (embarrassingly) that the reason he is underwater on his car is because he just wanted newer and newer. His car payment grew to over 500 dollars still had a 25000 dollar balance and his car was only worth 16k. The second guys company offered him a car allowance of 1000 a month so he goes out and buys a 50k truck. (let's see 50×18=900+insurance tires registration) you do the math. That's more than his allowance. A year goes by and they decide to scrap that program leaving him with an expensive car loan and 7k in the hole. DON'T FINANCE CARS PEOPLE!

One last thing. I found this the other day.

Financial Reasons?
Another young couple buying on wants rather than needs.
Rant over. More to come.