Why do Americans buy everything with credit? Houses are leased, cars are leased...

Why do Americans buy everything with credit? Houses are leased, cars are leased, what happened to living within your means?

suppose it were within my means to service a debt, sherlock. just fucking suppose it for one minute

This thread is gonna suck

>paying 150% of the list price of something
>what is compound interest

They're all classcucks stuck in a loop of self-perpetuating consumerism.

The US economy would literally collapse if Americans lived within their means.

Why work now when you can just work later? Come on user, you want that television and brand new car right now, don't you?
Sure, you'll stress later, lose your hair, ruin your marriage, worry about whether or not you'll be able to pay some of that debt this month and still buy some more goods, become addicted to prescription pills you received to combat said stress blah blah blah

But you want that car NOW, don't you?

>Why do Americans buy everything with credit?

I pay my bills on time at the end of the month and I get cash back.

But if they can afford to pay 150% for the convenience of having it now, its not beyond their means.

It may be irresponsible in your eyes, but it is not living beyond ones means.

You are an idiot.

When you move out of your parents council house and start paying for your own stuff, you can come and lecture us all, puppy.

>buy items with credit card
>pay off credit card every month so no interest
>get 1-3% back on every purchase

It's like you hate free money

We don't lease houses.

at least someone else in this thread gets it.

>what is pay "before due date".

>How are jews going to profit if amerigoys arent paying interest on debt?

Its like you expect them to work for a living.

I avoid paying credit whenever possible.

When I can't, I try to pay it off as soon as possible.

Vapid consumerism and debt slavery

>life happens and something happens unexpected where you run short of money
>fall into a feedback spiral of debt
It's shiny user, don't you want it?

Sorry burgers, but this is mainly your thing.
We don't like to live in debt.

This seriously. Based Citi Double Cash card has my back.

I've made probably around $5000 between cashback and air travel rewards using my credit cards in the past 5 years. I've paid 0 interest (paid every statement in full as they come up) and 0 fees. Are Britcucks really this dumb that they don't know about credit card rewards?

I pay 4% on my mortgage because it's the only way to own a home as a normal office drone. Sorry, I can't save up 300k to buy a house outright. Yet I need to live somewhere. Might as well get a mortgage and build equity.

Car loans/leases are dumb, I agree with you there. Buy a 4-5 year old car in cash.

>having credit card at all

debit or cash only

>not paying off your full balance every month
>not paying interest on anything
>not collecting the sweet Jewmoney cash-back rewards at the expense of idiot college liberals that carry debt

credit is the goodest of goy schemes that weeds out the irresponsible retards

Exactly

>vendor fee is passed to customers in the form of markup
>everybody has to pay the same price regardless of payment method
>using your credit card gives you cash-back rewards of 1%-7%

There's really no reason why you shouldn't buy everything with your credit card.

Same.

Started with an Amazon Visa rewards for 1% back on Amazon.com. Then got an AMEX that gave about .6% cash back when redeeming points for cash. Currently using Chase Freedom for 1% cash back. I would apply for this Cap One I saw in TV that gives 1.5% cash back, but I don't want to keep racking up hard inquiries. Plus the AMEX and Freedom still have about a year of 0% APR.

>muh shekels

House loans are normal, but living life on credit cards can get sketchy really fast

checked
Credit is a tool. You can use it properly or chop off your finger.

Because why wait for something when you can have it RIGHT NOW? Go on goy, you can just pay for it later! You won't even need to go out of your way to make the payments, you can just set up a direct debit! Your bank allows you an overdraft? Why even wait until payday to buy what you would otherwise have to wait 5 years to buy? You can do it today!

you have to have good credit to buy a lot of things in the usa or at least get reasonable interest rates. the good news is that you can easily build up your credit score on small purchases over time

There's an entire industry in the USA devoted to getting consumers to part with their cash and sign up to usurious credit agreements for the "convenience" of getting a luxury immediately.

Consider this:

Scenario 1:
>Save up for $luxury_item
>Do without $luxury_item for the length of time it takes to save the purchase price
>Buy $luxury_item with discount for immediate cash purchase
>Enjoy $luxury_item with modest amounts of depreciation
>Lose job
>still have assets including $luxury_item

Scenario 2:
>Buy $luxury_item immediately on """lease"""
>Pay portion of montly salary on $luxury_item
>get fired
>Can't pay
>Company repossesses $luxury_item
>Missing a few payments leaves you out of pocket and without any partial claim to the item you leased

Scenario 3:
>Buy $luxury_item immediately on """lease"""
>Pay portion of montly salary on $luxury_item
>Keep paying portion of monthly salary on $luxury_item
>...
>Pay 150% of the list price for the privilege of using it """today"""

Which of these options sucks the least?

>buy a thing with debit
>thing breaks
>manufacturer says get bent
>get bent

>buy thing with credit
>thing breaks
>manufacturer says get bent
>reverse transaction with credit card company

really makes you think.

You're a real sperg, you know that?

Come back when you have your first paycheck, kiddo.

>A PHP dev
no fucking wonder you are poor.

And i tough bongs do it about same as burgers.

15% of my income goes to rent. Shits expensive in CA, but my living standard is what below that of other people. Not everyone save I guess.

declining wages and standards of living can only be propped up by credit and debt

either debt or public subsidies (public debt) are what allow most Americans their '''''quality'''''' of life

>cars are leased
This is actually a decent way to do it if you make a good living. You basically rent a car for 3 years then get a newer model

How much do you think your parents spent on your circumcision when you were born?

You get to live a better life if you get everything nice first and then pay for it later. If you choose to do this it will cost you a fee which is the interest you pay on your debt. There is literally NOTHING wrong with this as long as you will be able to afford it in the long run and be able to pay everything off including the interest.

The problem is that too many lenders over the last two decades try to push things people can't afford on them to put them in debt, and too many borrowers are fucking retarded and take on debt they can't afford to pay.

If you are good at paying off your debt, you can even end up ahead sometimes. For example, I pay no fee for using my credit card, but for things I would normally spend money on I get points to use towards movie tickets and snacks. The bank can give me this because the make even more money than the free movie tickets they give me, off interest fees from retards who don't pay their card off on time.

tl;dr: Don't be a fucking moron and the system will work out nicely for you. I'm willing to pay a few thousand dollars in interest over my life so that I can live in a nice house when I'm 30, instead of saving until I'm 50 to buy a house with cash, which is even harder to save for, because I still have to pay money to rent somewhere.

You telling me thing break in america in 3 days or they let you reverse transaction at any given time ?

Some like bull to me.
In any case, there is warranty

Because bitches get wet when you pull out the BBC

Come now, Australia - this is weak b8

>Cashback credit card
>Buy my goddam groceries on it
>Internet shop on it
>paid off in full each month
>Get paid £4 per month to use convenient method of purchase
>credit score 680/800
>Have £6000 credit card limit
>no other debts, ever

Credit is a mug's game. Don't be played like a mug.

I can't type..

so you can't get mortage even if you got steady income for x years and no debts unless you have credit rating?

I forgot that everybody is jewing everyone in USA

here you have 2+ years warranty when manufacturer can't just tell you to fuck off unless the item is clearly damaged due to your retardation (i.e. broken phone display)

because STUFF MANNNN

The same reason we throw tea in the harbor

Of course a leaf thinks that there's nothing wrong with being a slave to debt and instant gratification.

Um, do you know what compound interest means?

Keynesian economics and the federal reserve.

no, a lease is stupid. why get a lease for something that you will pay more for over time then build equity and get the maintance and part replacements built in. A new car is still a stupid idea but leasing is worse.

haha lol its free money you dipshits get all the credit you can and buy all the shit you can live the dream and then file bankruptcy haha you dumb shills learn to live

Unlike your nanny state society, our society is built on trust and assumes that most Americans will be responsible enough to pay back what we borrow, while punishing those who abuse that trust. It works the same way with firearms, those who are responsible with their lives and choices can possess them, and those who are irresponsible or abusive have that right taken away.

Your society, however, has ceded almost all of your rights and responsibilities to the government, who believes you are too immature or childish to be trusted to make your own choices, and now makes all of your decisions for you. The libs in our country want us to follow your path, unfortunately.

>so you can't get mortage even if you got steady income for x years and no debts unless you have credit rating?
it's very difficult, but doable

>leased homes
>leased cars
>everyone
wew

>Default behaviour of burgers is to buy every high-value item on lease or credit
>Unexpected life event happens
>Get turbojew'd into debt spiral

Credit is a bet that nothing bad will happen to your ability to pay off a loan in the mid to long-term future. Experience suggests otherwise.

Also, how exactly does a nanny state obviate private creditor contracts?

Pretty much.

The idea is that spending drives the economy, so more spending = better.

Without credit, people can only increase spending by increasing productivity.

Credit allows people to spend more when they have it, driving the economy, but also requires them to spend less down the line when they have debt. This is why we have economic cycles.

Overall, credit is more useful to the economic machine than cash. There's something like 1 trillion dollars of money in circulation compared to like 50 trillion "dollars" of credit.

>hating on leased cars
If you're a rich american, it's cheaper to lease a new car every two years than it is to buy a new car every two years.

This is why the rest of the world is poor. They don't know how to use the financial tools available to them have the cuck mentality of saving and working.

Lol you can use credit here the same as the US just not everyone uses it because it's a fake sense of ownership, people use them as a backup emergency and never use them most of the time

>get credit card
>don't ever use any other method of payment
>put my college tuition on it
>it gets paid in full every month
>mfw got paid literally hundreds of dollars over a few years in rewards/bonuses
>mfw never paid a cent of interest
>mfw great credit rating because of this
>mfw the white man out-jews the jew into paying for his financial convenience and security

>muh anecdotes

>It also means the average consumer credit borrowing stood at £3,629 per UK adult. This is up from a revised £3,613 in March. Total credit card debt in April 2016 was £64.4bn.

What type of idiot would pay 1.5mil for a house or condo around here? The loan helps you live within your means, you know, pay it down in 30yrs or less, with 500k down only.

Let's say you did save up 1.5mil to pay up front for a house, you would have to save up for years to do it, meanwhile you would be renting an apartment for 4k a month and throwing the rent money out the window cause you're a total retard.

Shoo! Shoo! Slimy Limey!

Of course a large number use it dickhead, what's Australia's credit rating?

Bank loans are normal when buying a house, we're talking about credit

>Houses are leased, cars are leased, what happened to living within your means?
Fuck you're retarded, try harder next time.

Mortgages make sense because in the long run, property price increases beat interest hands-down. Over 20 years, the value of a property will increase to such a degree that the loan-to-value of the original loan drops to like 20%.

Plus inflation tends to reduce the burden of debt, so over time this loan ends up being an asset.

>Buy house at 60% LTV
>20 year repayment
>Compound interest at 2% over 20 years = ~50%
>House price doubles in 20 years
>Paid 130% for something now worth 200% of valuation at time of purchase

You don't understand what "paying it off every month" means. What are you, 15?

Also, cars and houses can only be afforded via credit. No one can save 20,000 in reasonable amounts of time, or keep liquid assets large enough to replace a car.

You get a loan at 1.5-3% for those items, which is a lower rate than what you make in return on your investments.

>Why do Americans buy everything with credit? Houses are leased, cars are leased, what happened to living within your means?
The Jews don't like that.

The plan is to get they goys so indebted that they won't be able to pay it and they'd only be paying for interests until they die. And they even "gambled" with those debts, which eventually led to the Great Recession.

If you've seen Murkans of the Clinton era and the Murkans of today, more goys are living within their means. Of course, there are some that will never learn and the Juden are still pushing people to get into some debt--you still have to have a credit record (and a good one) to allow you to buy cars and houses. It's probably possible to buy them cash money, or immediately paying them off, but the system the Jews came up with still want goys to pay a bit of interest. Because that's how the Jews are.

Still, the game has changed for the Jews that they're finding other ways to jew the goys, because the gov't really put a stop to banks easily lending people money at high interest rates.

The nanny state does not, you are correct. However, the culture of not extending a level of trust to your fellow countrymen still permeates your society. There are literally hundreds of thousands of businesses in our country that will extend a line of credit to anyone with a reasonably good credit score, and most will even do so for someone with a terrible credit score. Hell, the home improvement store down the street gave me a $10,000 line of credit for my moderately decent credit score. Will I use it all? No. But they trust that I can pay that $10,000+ back if I decide to remodel the kitchen or some shit. I doubt you can say the same aire of trust exists for you and your fellow countrymen.

How much do you have to put down on a house before they will give you a mortgage? How much do you need in a bank accout before they give you a personal loan? What percentage of a business loan do you have to show up front? Face it. Your country doesn't trust that you are responsible in private contracts because the government doesn't allow you to be responsible as citizens.

Leasing a house and getting a mortgage to buy a house are totally different things mate

>Britbong fails to understand the value of credit, leverage, personal finance, or anything involving money
I guess that explains why you didn't see a problem voting leave, huh

Using credit can make sense too, just starting out in the work force, can't afford to pay for everything up front, let credit ride for 3yrs, start making more money in 3yrs after getting work experience, pay off credit cards.

I did that, knowing with job experience I'd be able to make a lot more money than I did starting out. Took a few months to easily pay off what I racked up on credit cards in my early 20s by the time I was 24yrs old and never once stressed myself without having to go without anything I wanted.

Nice try, try harder next time.

People rent because they don't have enough money to secure a loan, or aren't goin love somewhere for long, or simply don't want the responsibility of ownership.

Put £10,000 down for a house deposit, then pay a mortgage every month, for ever how long it takes to pay of the house, if you can't get together £10,000 for a deposit then you're not in a position to buy a house, our population trusts our government to not fuck us with credit spirals

>Car loans/leases are dumb, I agree with you there. Buy a 4-5 year old car in cash.

Car loans are smart when they offer you 0% loans with an option to buy outright when the first interest payment is due on the loan.

What shit kicking village house would require only 10k down? Add a zero or two.

>What shit kicking village house would require only 10k down? Add a zero or two.
Depends on the laws that govern your down payments.

If it was 5% then a house that costs 200K

In the UK it's not uncommon for mortgage lenders to require only 10% deposits. We even have a scheme for new-build houses that means the government guarantees the first 20% of a property's value after a 5% deposit.

I could explain it all but look up history leading to and after the stock market crash and the housing boom in the 50s. The short of it is. Being in debt became less of a taboo and consumerism took of because of the credit system, went too crazy caused a farming crash that rolled into a stock crash and so the system of credit was refined in the banks to make it more sustainable.

By law the deposit is 5% of the price of the house

It seems the new scam now is getting into debt for education. The goal now is to get young adults and enslave them in debt, as they'd get more out of them as they start paying early and all the way into their midlife or elder years. And the gov't, whether left or right controlled, have no intention of providing "free rides" to everyone. Only a few.

You see leftists pushing for higher education, while not having the means (or sincerely providing the means) to either reduce the cost of it or provide it for free. You'd eventually incur some kind of debt, which are lent by (((private banks))). It's fucking genius. And once that bubble pops, they move on to the next thing to continue jewing the goys. Until it becomes cyclical where after some years, they'd go back to scamming the goys with easy (lent) money with high interest rates, education loans, etc.

The only way to stop it is to break the banks into small ones and force them to compete again. Sure, growth would slow, but stability is better in most cases. We wouldn't have financial crises every decade or so.

Generally 20% downpayments, here.

Can get a mortgage for 80% and a 2nd loan for as much of the down payment as you're short, though. Has double interest rates, but most people need one in their first house cause no one can save 20k+

They are borrowing happiness from the future then cry about it when they have to pay back with sadness...

Typical individualists...

I had to put 100k down for a 400k home purchase recently here in NY. The house was cheap as property taxes are sky high here. But it needs 250k to get it the way I want it, I have it saved up, but I'll most likely get a home line of credit and rent out the building I'm living in now completely, so it works out for me. I should pay off that home line of credit in under 10yrs, it'll be a 125k in debt, besides, the rent I'll get from the place I'm living in currently will cover it without a problem and then some.

>Which of these options sucks the least?

Option 4, being a poor eurofag who can barely afford bread.

You faggots will never know the wonders of American wealth.

We are a consumerist society and if we are not buying things that "improve our lives" we are not going to be happy. You think not being able to afford something will stop that? Think again, fucker.

Don't try to explain to a yuropoor how credit can be put to work for you.
It's utterly beyond them.

>How much do you think your parents spent on your circumcision when you were born?

tfw cunt reminds me of this :(

1/4 of the price down is a lot, surely paying a smaller deposit then paying the mortgage like you would pay rent is easier then jumping through those hoops

personally i do it cause i get free money for paying my bills and everyday items.

>pay bills,gas,rent,etc..
>get cash back
>pay my credit card off with regular bank account
>$$$$$$$$$$
>profit

That's the downside of not having a culture and identity to rely upon to improve your life. You have to buy stuff, use stuff, and waste stuff.

FALSE, my aunt has a lexus and a mortgage and has bern bankrupt 3 times

creditcards are for irrisponsible idiots only

>free money

You mean a tiny slice of the % interest you pay back each month? Yeah because your interests are compounded monthly, kek.

Short answer: because they can -- it's rampant capitalism at its finest. Who's gonna stop them?

It's why "big education" is able to charge like 60K a year for a fucking undergrad degree now.

It all truly is the jewish tricks® masterpiece to keep you in the rat race, too burdened by debt to do anything to get out. You "need" an expensive education, boom 20 years debt. And you "need" a car, boom 5-7 years debt. And you "need" a house, boom 20-30 more years debt.

I spose it'd suck if I didn't have a good job, but I do, so fuck the poors. I can afford to vote for Trump.

also the creditcard was invented by a black guy.

I you lease an item you can write off the costs as a business expense, rather than just claiming the devaluation on your tax return.

And you get a new car regularly for significantly less than purchase costs after trade in and taxes.

Also, 55 interest free days on credit cards allow you to earn interest on the cash you would otherwise have spent - plus you get points.

>cars = tax benefits
>cards = make money by gaming the system

How is servicing a debt that you can afford the payments on not living within your means?

Are you planning on somehow not working in the near future? Let me know your secret. I would love to stop having expenses. That's the only reason I make an income.

>But if you buy it with cash, you own it!

Are you planning on liquidating all your stuff in case of financial trouble? Just sell your crappy car for cash and walk everywhere? Here's another plan: hold onto that lump sum of cash for emergencies, and instead service the 0% APR loan with your paychecks. Or, if you get fired, pay the loan with your savings till you get a other job. Or, let them take the fucking car back.

All this Dave Ramsey shit strikes me as people who are financially illiterate. Maybe they are just scared of money.

Your finances are an ever shifting debit and credit balance. You aren't going to retire, at least not in America moving forwards. A cancer diagnoses is going to bankrupt you regardless.

When you pay the balance off every month you never pay interest.

Do you not have credit cards in the UK?

Interest is added to the actual amount you're lent, compounded monthly.

We have credit cards here, but they aren't as common as debit cards, because no one want to pay extra interest on a purchase they could afford in three months' time. We wait an extra three month and pay cash instead, which is the sensible thing to do.

It may not be obvious in a country ruled by jews, I'll give you that.