I am willing to pitch in to help
that said, why would I not be surprised to find out many of these people have a newer and more expensive phone than me? a nicer car?
sorry for the cynicism but I've watched too many people in the drive-up food bank line in $80k pickups...we have a disconnect here
> 75 percent of truck owners use their truck for towing one time a year or less (meaning, never).
> Nearly 70 percent of truck owners go off-road one time a year or less.
> And a full 35 percent of truck owners use their truck for hauling—putting something in the bed, its ostensible raison d’être—once a year or less.
The F-150 is America's most popular passenger vehicle, and I'm pretty sure construction worker isn't America's most popular job :)
[1] https://www.thedrive.com/news/26907/you-dont-need-a-full-siz...
I do recognize that a lot of folks buy it because the false sense of safety or for "rolling coal and sticking it to hippies".
Do lawn or woodworking projects? Probably gonna haul materials in an F-150.
When I purchased my last vehicle, I had several considerations in mind, but the reason I didn't purchase a truck was that the gas mileage on those vehicles is typically not great AND it would cost me less month-to-month to simply rent a truck from U-Haul or Home Depot on the days that I needed it.
I pay almost $500 a month for the right to drive a 2019 SUV that cost $19K when adding up monthly payment and insurance. There are far too many people on the streets paying over $1K a month simply for the right to be mobile in a recent-model truck.
I don’t own a truck. My boat wouldn’t fit on a trailer towed by a 150 anyway. I just think that the core market for that model is tradesmen or apprentices. Secondary market is the fools that think it’s cool to have a 10mpg truck for just having a trucks sake.
If you own a truck and have legit towing, hauling, or other “truck” business then it makes sense to own one rather than rent one. Like you said though, if it’s just one or twice a year - go rent one.
For a better anecdote, my father is a contractor and a few years back started actively avoiding his F-450 for day to day work because it's such an expensive pain to operate. Instead he got a smart car and drives that to the site most days, complete with table saw and other tools. Again, not saying that every every tradesperson can work like this, but just think of how much easier parking would be if half the people on site weren't driving F-series trucks.
Requiring or expecting that people burn through all their material resources before getting help isn't how you get people out of poverty. Such requirements are a part of America's "poverty trap" and also cause misery in the disability system.
I spent a solid year looking for a good cargo van to turn into something other than a van-life van (more a mobile hacking station… but that’s besides the point).
The reality is, one’s transportation here in America is one’s livelihood in many situations.
It's probably easier to buy a good small pickup than a big van right now, especially if trading a bigger pickup + accepting cash which would be great for someone in financial trouble.
there's an opportunity cost for that expense. it reminds of this episode of Schitt's Creek - https://www.youtube.com/watch?v=hg1Uk60rBsc.
If you want to help help, if you don't don't. What you're doing here is the worst of both basically.
They seem to only marginally help those who already have money, but frequently negatively impact those who either don't have money or just make very bad financial decisions.
I don’t think it’s good, but that’s the truth.
> acting like your credit card is a debit card.
Damn, sounds like a good deal.
Those are people who sprinted off the cliff.
Not paying the credit card bill has consequences, but having the option to choose whether to pay timely for expenses you already incurred offers flexibility.
If you had paid cash for your groceries the day before you got laid off, the cash is gone; if you paid on a credit card, you have an unsecured debt, but you can use your cash for other things, if need be.
Recent profile on one program and the kind of gatekeeping people face: https://www.youtube.com/watch?v=wJDk-czsivk
It's a global phenomenon unfortunately.
Who holds all the debt?
BNPL makes their money by charging a network fee. AFAIK AfterPay charges about 7% and this is meant to cover the debt charges from the banks and administration fees.