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      10-16-2019, 08:00 AM   #131
Second Lieutenant

Drives: 19 M4CS; 11 M3; 14 Sonic
Join Date: Nov 2013
Location: San Diego, CA

iTrader: (1)

"Seven million people are at least 90 days behind on their payments, so is the fault with the lenders or people who are living beyond their means—or both?"

Its difficult for me to even get through the article after reading this question.

This is what's wrong with the American consumer. Nobody forces us as consumers to live outside of our means, no matter how enticing the proposition, sales pitch, financing offer, etc. To say otherwise means either that we 1) lack common sense, 2) are weak willed and willing to make decisions detrimental to our well being, 3) selfish and greedy, 4) easily cajoled or manipulated or 5) all of the above.

If you make a decision, be it financing or something else, own that decision and when/if you fail don't blame the system, predatory lending practices, your neighbor, your bank, your local politician for your inability to live like an adult.

Drives home on days when I read articles like this are sometimes thought provoking. At a red light next to my second-hand mile E92 M3 is a guy in a 2020 M4 CS. He's probably telling his wife how much better performance and luxury the M4 packs against my old M3, but more likely than not, that M4 CS is leased or financed to the hilt. The same guy probably calculates his net worth based on the 50K in his checking account, excluding the 200K in student, auto, rent-a-center and mortgage debt. And his Instagram sure looks good!
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