Why do people go back into debt when they were once debt-free?

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My friend is 27, college-educated, lives at home with parents who own their house out-right. He paid off his 07 Civic last month (only 21k miles on it!!!!) and now wants to get a 2009 Nissan Z….WHY? Why would someone want to go into debt for no reason….especially when you have a paid for car with only 21k and a reputation of lasting forever if maintained properly?

3 Comments
  1. Reply
    jlf
    July 17, 2011 at 6:29 pm

    27 or not, he is still immature.

  2. Reply
    Not I
    July 17, 2011 at 7:13 pm

    They lack self control and have a sense of entitlement. This behavior goes unchecked so nothing changes until they seek counseling.
    Call them shopaholics.

  3. Reply
    bdancer222
    July 17, 2011 at 8:05 pm

    There is no understanding of guys and their cars.

    But this ain’t bad at all. At least the Civic is completely paid for. Usually the current vehicle has a loan for a couple thousand more than the car is worth. They trade in the negative value car and end up with a new vehicle and even more upside down in the car loan.

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