|Miss Riley, almost 3-year-old rocker. Too much TV or something.|
A Honda dealer here in our fair city, is running a commercial saying that you, yes I said you, can own a 2011 Honda Civic for only $5 a day. Sounds good, just the cost of a Starbucks latte, as the commercial points out.
However, the lowest price a 2011 Honda Civic sells new for is around $17,500. At $5 per day, $17,500 represents 3500 days or 9.5 years. Maybe there are people who are willing to pay $5 a day for 9.5 years, but not sane people.
But wait, there's more!
The 9.5 years of payments assumes that a person gets a zero percent loan. At even a very attractive rate of 5%, the $5 a day would require a payoff period of nearly 14 years.
I guess they count on people not being able to do math. Or maybe given the mortgage crisis, they are trying to woo people who are looking to live in a Civic.
Things in this blog represented to be fact, may or may not actually be true. The writer is frequently wrong, sometimes just full of it, but always judgmental and cranky