It's easy to understand why people overextend themselves on vehicle purchases that they really can't afford: One is to feel "safer" in having a newer vehicle,

It's easy to understand why people overextend themselves on vehicle purchases that they really can't afford: One is to feel "safer" in having a newer vehicle, especially if it's still under warranty. The second is simply peacock presentation of showing they've spent more money than you'd think they could afford otherwise. I guess some might simply be a mega-fan of a particular car model and go for it even when it's outside of their financial means, but I haven't seen that very often out of people in average income brackets.