No one should be given credit, for anything, without an affordability check.
On the other hand, one could argue that no one should apply for credit of any description unless one is absolutely sure one will be able to pay it back. Whatever happened to personal responsibility?
[Rant Mode = On]
If you want something, save up for it. Simple. Nobody needs to drive a flash car, a £200 shed is fine to get to work. Being in debt is the absolute pits, you sacrifice your freedom in return for an illusory sense of 'wealth', and stuffing yourself financially for the sake of a depreciating asset is just plain bonkers in my view.
I concede that it might make financial sense to borrow money rather than use capital to finance a purchase, but in that case if it all goes Pete Tong you can buy off the loan with the capital, so my first principle is valid. But many of these daft sods are getting themselves in trouble because they think that other people are going to be impressed by their choice of car.
Rich people stay rich by behaving as if they are poor. Poor people stay poor by behaving as if they are rich.
[/Rant]
