Driving Yourself Further Into Debt

Hey Jessdrivers

I'm often amazed at people not having the ability to realise a for-profit industry like the private automotive industry and the banking industry would be one that had your best interests at heart. The belief in their altruism is so profoundly indoctrinated in peoples minds they couldn't for a second think that they are getting a raw deal.

The private vehicle market is worth trillions worldwide and from the time your 18, you're told a right of passage as an adult is to start taking on debt. This is with student loans and of course, some suckers will couple it with a car loan.

Cars a status symbol and people are passionate about various brands and models. People spend a fair bit on shilling out for a new ride so they can share it on social media and showcase the brand new shiny piece of debt they've just acquired.

Image path - roadtofreelife.com

Driving off the lot will cost you a lot

Buying a car isn't inherently a bad thing if you purchase something within your means and realise it is only going to piss away more of your money. If you fully understand that by all means, go ahead and sign up for one.

However, the joys of getting from point A to point B whenever you would like and sitting in traffic while contributing to greenhouse emissions comes at a higher cost to you than you think.

Unless you live in your car, you don't spend much time in it. You use it for 1 - 2 hours a day and for the rest of it, it's parked somewhere losing value. You have to pay your loan, insurance and any fees for transferring it to your name

You have to pay for the car license, the drivers license, roadworthy, repairs and of course putting in petrol when you need to get this hunk of steel and debt to take you anywhere.

Living the debt dream

If you're filthy rich and this is just a tiny blimp of your salary by all means. But what banks have done is sold people a lie, they've strategically calculated how much pressure they can put you own to own one of these "debt vehicles" and how much profit they can extract by shipping the liability from them and the manufacture onto you.

Then to make it even more fun for you, they build these cars not to last, depreciate it in a way that it's not worth anything when you want to sell it, and keep producing "new models" to keep the Ponzi scheme going and bringing in more suckers each year or even the same suckers in after a few years.

How is it rational to pay interest on something that reduces in value over time, requires more money to maintain and own and doesn't offer you any support levels to get out of your bad choice? Car loan debt is currently in its $trillions worldwide and shows no sign of stopping.

People are hooked on the next years model with the flashy lights and details instead of remembering this was just a tool to get you from one place to another.

Let's connect

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