Are $50k–$80k cars really the normal, or is everyone just overextended?
I keep seeing streets packed with $50k–$80k vehicles, and the math just doesn't add up to me.
Even with a $100k income (taking home ~$5.5k/month), a $1.5k total monthly vehicle expense takes up over 25% of net income.
How are so many people financing or leasing these vehicles without completely blowing up their monthly budgets?