No need to borrow money. After my first car, I never borrowed again for cars. I buy reliable new cars (Toyota). Last car in 2011 for 20K. I figure my next new car will be in 2025 which will be cash. House is my last loan and I owe 65 thousand left. They can give me a zero social score. Big deal. This may encourage people to stop borrowing money they don’t have.
Exactly. Financing a car is insane unless you keep it for 15-20 years.
It’s simple math but hardly anyone pays attention.