Quote:
Originally Posted by cajunhntr03
it aint financing that has ruined our economy It was people that paying for their debts that hurt us The gov put an emphasis on lending out money so institutions lent out money to those that should not have qualified Take a hard look at credit scores Those that have great scores are those that have borrowed money If you were to pay all your big purchases and not finance them you would have poor credit scores ........ I am gunna finance some of my boat But I pay all my notes on time .......Besides, I am making a better % on my money in investments than I have to pay by borrowing
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Roger that..... Losing a job or serious health condition I could see someone having to default on payments....but thats not even most cases...
My Mom has a Mortgage company in Lafayette....and she said that you would be surprised at the collage kids getting credit cards and maxing them all out....then defaulting on them.... Bankrupt...
If anyone is going to buy a boat....1st they should know it will cost them a lot to keep it up plus fuel.
I love watching these young kids offshore buy 50K trucks and tires....I ask them...How long did you finance that.... 7 years..... Then I ask.... Do you plan on living with your mommy for 7 more years??? Most never even think about it. Just I can cover the note. I know a guy offshore who bought a 45,000 boat and had it repo 6 months later.... I said dude ***??? He said Man: I did nt know the insurance and note plus gas would cost that much.... Then i ask...Why not sell it then have to go under on that note....I also told him that your credit is what gets you by in life! Good credit can get you financed for anything with lower payments and even get you a better job...... He said...I dont need credit im 19 years old
