Originally Posted by blackcrossfire07
I don't really agree with you on that.
If the car is a total loss he still needs a car so he must do one of two things....
1) fix it
2) spend 10K on a used car (or a lot more money on a new car)
If he could take a loan out for 5K to fix the car it is better than taking a loan out for 10K to get a new used car (with potential problems down the road that could cost him even more money out of pocket to fix).
why do you think he needs 10k car to replace a wrecked one? how about a car that costs the amount of money he can pay cash for? us old guys call it a beater. if you dont have the cash you cant afford it. as i said another job fixes the car over the winter and doesnt involve debt or credit cards and breaks the cycle of ill borrow more money to fix all my problems.
i know im preaching but if i cant beat thisn thru 1 kids head maybe theres hope for the usa yet.
13dog a little debt isnt good debt. no debt is good debt