Thanks for the money management lesson Hattie!!!! I never said real estate wasn't an asset. You missed the point, but that is ok. My point was that the op was getting told that if he has to finance a used car he can't afford it. Nobody asked hey what kind of car are you buying? Maybe he is buying a one year old or two year old Mercedes! Why would someone assume that if he wants to finance he can't afford it. It is ridiculous to assume that. I financed all three of my cars when I bought them new, so that means according to the thinking of some on this thread I couldn't afford them. I bought a 2002 in 2002, I bought the 03 in 03 and the 04 in 04. Here is how I looked at it I could have plunked down the full amount on each vehicle, but that would have seriosly impacted me financially if I experienced cash flow problems. So hers how I worked it, made sure my house was free and clear first. The cars if god forbid things got or as they are now getting bad screw the car(s) my kids need a roof guaranteed, but ill have the cash position to regroup with some other type of vehicle if need be. And please nobody say but yeah you could sell the car, anyone ever sell a car when they were desperate will tell you the vultures can smell the desperation. My comments weren't intended to offend anyone, but the responses made by some without having all of the info regarding the situation kind of stunned me. Now lets all get back to being happy and friendly. I hope nobody is taking my comments out of context or that I am trying to start trouble with anyone.