I stand by my statement that a car loan is not a necessity. It isn't. I never had a car loan until last year. And I probably still wouldn't have one, except the dealer offered 1.8% interest, which is at or below the rate of inflation and less than the 6% or so PFF is paying these days. I think it was smart to get the loan.That said, $300/month (which presumably includes tabs and maintenance) isn't a whole lot to spend on a car. You're not driving anything fancy. $50/month on clothes is $600/year. That's pretty tight for a family of four. The rest of the budget was pretty tight too. The reality is that middle class wages don't support a middle class lifestyle very well anymore. I think that is a real problem.
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