How can I knock some sense?
Date: Mon, 01/18/2010 - 02:51
IMO it's the American greed which is responsible for our ongoing financial crisis. We simply can't live within our means and hence have to live on credit cards. My niece who is just 23 years old drives the most flamboyant car. It is clearly beyond her affordability. She is already upside down on her loan but cares the least. I am interested in knowing how I can knock some sense into her.
On pretty well every car loan, you are upside down for the first
On pretty well every car loan, you are upside down for the first year or so....just driving the car off the lot will depriciate the vehicle.
Since she has already financed the vehicle and is upside down, even selling the car will leave her in the hole.
She is an adult....you can advise her but she will resent you "knocking sense" into her.
IMHO, I believe that someone has to hit bottom before they learn
IMHO, I believe that someone has to hit bottom before they learn from their mistakes and maybe that's what needs to happen here. Who knows, she may suprise you and pull it off.....
Quote:She is an adult....you can advise her but she will resent
Quote:
She is an adult....you can advise her but she will resent you "knocking sense" into her. |
I agree Soaplady, but the problem is that she is living with us for the time being. I am worried that if she fails to repay the loan or wrecks the car in an accident, which would pretty much leave her in a hole, how it would affect my financial condition. Would I be anyway responsible for her acts?
