The US credit rating has just been dropped from AAA to AA+ by Standard & Poor's!

[MickZEL]

Question. All Americans buy cars on credit?

[Kal-El]

Originally Posted by MickZEL

Question. All Americans buy cars on credit?

Most people don't have $25K lying around to pay cash for a car (about the average car price). So probably around 95% of Americans finance their vehicles, even old used cars. Only the wealthy typically pay cash for cars, or the few really money responsible people who manage to save for years to pay cash. Very few people have that type of will power to save, unfortunately.

I just saw an article that shows that only 1 in 4 Americans even have enough to pay for a major car repair, just to give you an idea of our poor savings. The sad reality is, is that a large portion of us live paycheck to paycheck with NO savings. Including myself admittedly.

How is it done in Russia?

Originally Posted by PK198105

McDonald's too not only cars

Sad, but true. Although it's not a majority of us. Yeah, people even buy groceries on credit.

[tomato]

Originally Posted by PK198105

McDonald's too not only cars

Now, now, Pawel