After 70 months of payments, you'…

After 70 months of payments, you've got a paid-off car that you bought for $40k, that ended up costing you $50k (thanks to interest), that's now only worth $16k (thanks to depreciation).
 
So, as astronomically stupid as that is, why are people still buying new cars?

Carl B Menger

Carl B Menger

Bitcoin Chief Hodler Subscribe: https://carlbmenger.substack.com/