Yay! We finally got the husband a car - its so cute and was dirt cheap so when he has it trashed out next week I won't feel sad and heartbroken.
We bought a car that has 100k miles on it. WE PAID CASH FOR THE CAR (Tavia, Shansbride, bluekid) but I did check the financing options because we all know I would rather have low interest (or zero interest) debt than use my savings. Anyhoo, the interest rate for a car with over 100k miles on it is - wait for it - 9%. Yes, NINE PERCENT. I nearly stroked out. The financing manager at the dealership, recognizing my distress, said that rates on car with over 100k miles are astronomical regardless of one's credit rating.
So, I got to thinking...how the hell does someone with lower income buy a car? It seems ridiculous to me that someone spending $10k on a car has to pay a rate of 9%, yet the woman in the room next to me is paying a rate of .9% while financing 100% of a $60k car. Something about that just seems....wrong.
Yet another reason why I am for a consumption tax rather than an income tax.