Buying stuff?

Question

Does anyone think that buying anything on credit or leasing is a sign that you cannot afford it in the first place?
Leasing a car is like you are not rich enough to buy it, but still want to show off and hide the fact that you are poor.
What do you think of this human tendency?

Answer 1

very very interesting concept. The need to seem/appear more affluent is something that society places alot of emphasis on. Throughout history, people with more money, fame, possessions have been given higher importance. And dependant on your possessions and financial stance, people will view you in a different way, and many times, tend to believe that the person is better. Personally, I feel that the only way a person can be judged, if even, is by his personality, his compassion, his humanity, his honor and his righteousness. In short, deeds-- good deeds and pure intention is perhaps the only fair way to sub categorize people.. But coming back to what you were saying, its sad that there is this human tendency to seem bigger, bigger and/or richer than we actually are. Its the reason why so many people are in debt, and the bank and loan companies are reveling in the joys of our falls. I do admit that there are times, that people dont purchase things because they want to seem more affluent in society, and its just because they want something so bad, and they want to pay it off in installments. In that case, my best advice would be to get zero % interest type deals, where you don't lose out in the long run, get your favorite "toy" or product or useful necessary item, and just pay it off responsibly. The dangers lie when greed take over caution, and one spends way over what one could make up for, leading him/her into financial chaos, and paying off thousands of dollars of interest for a long long time. In the long run, more things do not ultimately buy happiness.. We know that. A nice warm living area, safety, health, thoughts of God's mercy, and a compassionate outlook on life should suffice.

Answer 2

Leasing is actually a decent option for a lot of people. If you drive an "average" amount and want a lower payment, leasing makes sense. A car only loses value, so purchasing unless you plan on keeping it for a decade or so isn't always a smart option.

Many people pay off their credit cards each month, they use them to earn the points rather than pay cash and earn nothing.

However, in general, I agree with you. If the ONLY way you can afford the giant TV is to pay for it for three years, you probably can't afford it. And yes, it is human nature to try to "one up" the next guy. We all want to be "better" and more "successful" than Joe down the street. I do believe that this cycle is perpetuated and encouraged by our government and corporations though.

Answer 3

I agree in most circumstances; I think purchasing a home with a mortgage is not irresponsible. I can understand going into debt for college or grad school (student loans) but only after all other means of paying for education have been exhausted. I can also see going into debt because of an emergency situation, such as an unexpected medical event. Leasing a car is probably not such a good idea. Why pay so much for a car that is going to decrease in value the longer you own it, just because it looks nicer/newer than the car that fits in your budget? People need to get over themselves and their need to impress each other so much.

Answer 4

I think that some people lease not because they don't have enough money, but because of the benefits that leasing provides. Leasing allows you to get a new car frequently, you don't have to drive the same car for years. It also results in fewer repair bills.

Answer 5

not true. in fact you need very good credit to lease a decent car. some people just enjoy getting a new car every other year and don't want the hassle of selling it.