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I love my friend but...

November 20th, 2007 at 05:24 pm

So this weekend, I called up my friend to see how her new job is going since this was her first week and she told me she had to call me back because she was in the middle of signing paperwork for leasing a brand new car. What!!??!!

This girl had been at my house the weekend before to learn whether she had enough to pay rent because of the transition but she is going to lease a new car?! My dh and I look at each other and just shake our heads and promise ourselves no more money will be given to her to help her out. We aren't paying for her mistakes.

The news gets a little better later on, she got turned down for the lease because her credit is only 620 and now she is across the street trying to buy a new car. She's upset that she has to buy one because then "she will have to mess with selling it while it still has a loan."

1. Why can't she keep the car until it's paid off. (I never got a real answer to this one)

2. Why can't she save up a down payment so she doesn't have to worry about being upside down in the loan when she sells. Answer: she wants it now because all of a sudden she just can't wait for a car. Okay...

The good news is she kept the payments at $200, the bad news is its a 6 year loan and she will pay $4,400 over the life of the loan for the privilege of financing. She also thinks she will only keep it for 3 or 4 years. Given her driving history, we figure she will total it in 2...

She has no EF, the credit cards are maxed, she just started this job a week ago but she couldn't wait two months to get her feet under her.

Sadly, for her, this is making progress and she will be able to afford the car payment. The question is, how many other things will she decide she can afford until she can't afford anything?

3 Responses to “I love my friend but...”

  1. Brooklyn girl Says:
    1195582410

    This is her way of life, and unfortunately, she probably thinks that debt is normal and that only rich people have some savings and no consumer debt. I've met people like that. They believe that they "SHOULD be able to afford this" and therefore buy it.

  2. disneysteve Says:
    1195597515

    I see this stuff almost every day. You have to wonder which gene these folks are missing that allows them to see nothing wrong with living that way. I'm just thankful that my wife and I both have that financial responsibility gene and I hope that our daughter inherited it as well.

  3. baselle Says:
    1195631275

    Walk away, I guess. She hasn't hit bottom yet.

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