I was creepin’ on Facebook the other day, when I saw a sparkly new car show up in one of my friends’ posts. After clicking around, I discovered my friend purchased a brand spankin’ new Jeep Cherokee.
I thought it was a little odd that she purchased a new car being that the last time I spoke with her she told me she was looking to quit her part time job at a local photography studio.
I can’t imagine a part-time photography assistant makes mad scrilla, but perhaps I’m wrong?
On Friday night, I attended a fundraiser for a youth group I am part of, YoungLife. While at the banquet, in walked Ms. Jeep Cherokee. We started chatting and I mentioned I noticed she had got a new car.
I asked her a little about the circumstances leading up to the purchase.
Because I’m nosy.
She told me that her former car’s transmission went out and it was going to cost $2,000 dollars to fix. With excitement, she further explained that her former car was only worth $900 dollars so it made no financial sense to fix it.
And that’s when she said, “So I went and bought the Jeep.”
It took every ounce of self-control to not do something like this…
I wanted, so badly, to know everything about her situation.
…I wanted to know how much the car cost.
…How much she put down.
…And what the heck she was thinking.
Instead, I smiled politely and said something like “Well that’s exciting.”
Since when did a $2,000 expense become a justification for a $20,000 loan?
I couldn’t imagine she put more than 10% down, which means she is not only the proud new owner of a Jeep Cherokee, but also a couple hundred dollar per month car payment.
I think what upsets me the most is that she is completely oblivious to the gravity of taking on such a big loan. I desperately want to sit down with her and ask why she thinks $20,000 is better than $2,000. Or at the very least, why she didn’t buy a $5,000 used car?
I know most of us PFers have encountered similar situations. You know, where someone says something that makes the PF nerd inside of you want to curl up in the fetal position and start sucking your thumb.
What did you do?
Do you smile and politely pretend like your excited for them? Do you slap them across the face and tell them their dumb? Where is the line between expressing legitimate concern and sticking your nose where it doesn’t belong?
Moral of the story: depreciating assets suck.