I look around at my neighbors, my friends... everyone must be doing better off than me OR everyone is just constantly living in debt and considering a car payment a permanent "tax to live" because I see people with new cars (if used, very late model) everywhere.
I am terrified of one of my cars breaking (both Toyotas, thankfully, fingers crossed, knock on wood). I dread having to buy another car when these are done.
Haha, I feel the same way when I compare with my neighbors! I have a “really decent” job in tech, and live comfortably, but my family does it by living in a modest sized home, driving a 15 year old car, 7 year old phone, and basically never taking vacations. But when I go drop my kid off to visit her friends, everyone’s got ginormous homes, some on acreage, beautiful furniture, 0-3 year old cars, all the latest gadgets, photos from last year’s trip to Cancun… and they’re nurses and electricians. Not that I feel I’m better than them because of my career but jeez how do they afford it all???
I’m glad I don’t have the “normal” urge to Keep Up With The Jones’s because I’d be broke!
Same here. But I know how they do it because I have some family like that: they're hip deep in debt and will never figure out how bad the situation really is until the inflow of cash that allows them to pay the interest on all of their loans stops. Then there will be a rather rude adjustment in life style.
As a long time car avoider it truly baffles me the people I see driving while on minimum wage. A lot of people will just drive around either uninsured or by defrauding their insurance hoping this never blows up in their face and well it usually doesn’t.
At least where I live there's not much choice for some of those folks I don't think... If you have to work two minimum wage jobs you aren't going to make it on time going from one job to the next taking the bus unless they're quite close to each other.
I suspect a decent percentage of people with newer cars are leasing, since many people shop for a car based on monthly payment without considering the long-term costs.
Also, unrelated heads up since you mention older Toyotas: there's a new recall on Takata airbags from certain 200x models.
I am terrified of one of my cars breaking (both Toyotas, thankfully, fingers crossed, knock on wood). I dread having to buy another car when these are done.