Took a browse through the Facebook Buy/Sell Page, the hands down stupid purchase winner is a lady selling a 21.5' 2013 Fancy-Something Ski Boat hoping someone will take over payments.
Here are the stats:
Amount Owing on Loan: $51,XXX
Monthly Payments left: 203 (17 F#$KING YEARS!!??)
Monthly Payment Amount: $417
So buying this $50K boat means spending $85k over the next 17 years and ending up with a worn out 19 year old hole in the water, or simply pocket the $417 a month at 7% and get $160,000 richer in 17 years. And thats before any maintenance costs or the need to have a tow vehicle. Why do people only look at the monthly payment and think "Yep, I can totally afford that!"