It used to be ok to own and drive an old car. Next time you are out driving around take notice of the fact that there are very few old cars on the road. It seems everyone is driving something new. The only people driving old cars are old people or students. My mother didn't own a new car until she was in her 50's. As a 2 income middle class family we owned two older cars and when they broke we fixed them or had them fixed depending on the level of complexity of the issue.
Today everyone and anyone can own a new car because......
- replacement is often cheaper then fixing and really who fixes anything anymore.
- financing has been made possible for most people.
(If you have a job you car probably "afford" to lease a new car)
- We are all getting less and less adverse to carrying debt.
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