• hamburglar26@wilbo.tech
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    1 year ago

    Part of the problem is you have to build credit to buy a house or car, and cards are the best way to do that.

    But for many it is easy to get behind and they will eat you up quick. The whole system sucks.

    • Gigan@lemmy.world
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      1 year ago

      You don’t need credit to buy a car, only to finance one. I bought my current car used and with cash and plan to do the same for my next one. Cars are a terrible thing to finance because they lose value so quickly.

      If you want to build credit for a mortgage, use it to pay for a recurring monthly payment like car insurance or a phone bill. Pay it off every month and dont use it for anything else.

      • grue@lemmy.world
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        1 year ago

        You don’t need credit to buy a car, only to finance one. I bought my current car used and with cash and plan to do the same for my next one. Cars are a terrible thing to finance because they lose value so quickly.

        Yet another example of how car-dependent zoning is a trap. Imagine the financial freedom people would have if they didn’t “need” a car in the first place!

      • hamburglar26@wilbo.tech
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        1 year ago

        You don’t as long as you have enough cash to get something and keep it running. There is a huge market for predatory car loans for people that need a car but have shit credit.

        • Aux@lemmy.world
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          1 year ago

          A car is a privilege, not a right. If you can’t afford it - use a bus instead.