If you can’t pay cash you can’t afford it, by definition.
I really think most folks that do buy on credit spend more than they would if they paid cash up front, even if they can afford it. It’s easy to talk yourself into a low or zero interest note, and miss the fact that if you paid up front you would likely buy a cheaper rig. I like Dave, he speaks of the pain associated with cash purchases and I think it’s true.
I dont agree with Dave in everything, I do buy new Toyota pickups. The retained value is just nuts, it winds up being pretty cheap when you run it out 10+ years. That said, since I pay cash, I have no desire to pay 50k+ for a rig (paid 34k for my 2019 tundra). Would be easier to talk myself into an expensive pickup it if financed. Cars, we buy Toyota/Lexus used, the depreciation savings is real.
Same goes for boats and toys IMO. They sell a hell of a lot more than they would if credit wasn’t available which means most folks are buying things they can’t afford.
I guess lots of folks are fine with never accumulating wealth because they are buying things they can’t afford on credit. Until later in life I suppose.
