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So how much "bad" debt are you in? (lemmy.world)

submitted 1 year ago by ericbomb@lemmy.world to c/asklemmy@lemmy.world

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Hear about how much debt everyone in the US has all the time, curious about some of your stories!

My bad debt is 10k left on a school loan from a for profit school that is now out of business.

Only other debt is house.

So how are you all doing with debt management?

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[-] whoisearth@lemmy.ca 4 points 1 year ago

But cars don't appreciate in value...

Good on you with everything else and I'm with you 100%, but as soon as you drove that car off the lot it's been deprecating in value.

[-] RememberTheApollo_@lemmy.world 1 points 1 year ago

Yes they do.

You just have to pick the right car, and it’s not gonna be an off-the-shelf regular car.

[-] whoisearth@lemmy.ca 0 points 1 year ago

If you look at all the cars that have ever existed 99/100 times that car is deprecating.

Yes, OP may have bought a classic car or something with high resale value. I was simply speaking in generalizations. The vast majority of cars depreciate in value once you drive them off the lot.

[-] RememberTheApollo_@lemmy.world 1 points 1 year ago

TBF you made generalizations that a) they don’t appreciate, and b) my car’s value depreciated off the lot directly to the initial statement I made that the car I purchased would appreciate.

I can assure you that these statements are incorrect in regards to my purchase. If you want to walk back your statements to not be in reference to my initial position, who were you talking to then?

[-] Subverb@lemmy.world 1 points 1 year ago

I have a 1964 Lincoln Continental convertible. Cars can appreciate, I assure you.

[-] whoisearth@lemmy.ca 3 points 1 year ago

Historically speaking they don't. I understand there are outliers for sure.

this post was submitted on 20 Oct 2023

106 points (96.5% liked)

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