A lot of people see a car as a perpetual monthly expense and they are fine with that. Rather than seeing an 84-month loan as a large debt, they see a manageable expense. Outside of COVID, people are generally optimistic about their income staying the same or rising.

Also, cars are pretty neat and we have access to the best from around the world. It’s a popular hobby here to be interested in nice cars and trucks and enjoy driving them. The country is huge and beautiful so driving is rewarded by the destinations.

Safety is also valued, so many people prefer to do mundane commuting in a more recent car with better rated airbags and crumple zones.

So to many people it’s worth getting an expensive car years earlier than paying cash, if they even consider paying cash.