Some people overspend a lot on cars. Some people don't. I know a lot of people who drove 10+ year old Toyotas until they decided they wanted an electric car. Or

Some people overspend a lot on cars. Some people don't. I know a lot of people who drove 10+ year old Toyotas until they decided they wanted an electric car. Or who still drive 10+ year old Toyotas. Interestingly, some bought the car new and had a "drive it into the ground" mentality. Others bought them used. In both cases, their TCO for their cars averaged out to be quite low. Even the people who bought new EVs seemed to get fairly good deals on interest rates. If you were getting high interest rates, you were probably trying to buy far too much car for yourself.