Our cars are over ten years old and long ago paid off.
They work fine and we will keep them that way
Same here. I see no need to buy a vehicle that drops a large percentage of its value when driven off a lot. We buy decent used cars, maintain them with regular oil changes, etc., and drive them until we think they are no longer reliable transportation.
I’m still driving my 2003 vehicle that I purchased in 2016 for $6400. My mechanic says “don’t sell it, you’d regret it”.
I can’t imagine having a 5 to 7 year car note with a monthly payment of 700+.
Add in depreciation and it boggles the mind.