Okay, I know, my car isn’t the best. 90:s Toyota Corolla with over 300 000 km driven, which swallows oil like gasoline, does that sound like a great car to you? Of course not. Not my car up there by the way, just a copyright-free image of similar stuff.
What I am curious about is the value of the car- mine is cheap like scrap metal. I got it for 500 euros. I have done some repair with my relatives, which adds up to few hundred euros more, about the same I bought it for- 500. This includes new battery, new brake pads, new radiator etc etc, normal stuff which wears down over the time. This adds up for 1000€ + tires, which I have bought two, winter and summer tires (Finnish stuff). So 1600€-ish.
I have driven it for three years. Three years for little over 1600€ in specific-car related cost. Little over 500€ a year or euro and quarter + some for a day. There are some people willing to take a loan for a new or nearly new car, which costs ten to thirty times the amount. Sounds like a good deal to you? Of course I exclude rich, who do not have to think about money that much.
This is classical stuff. Want to buy a new computer? Or get old one for almost free, since the material cost of building stuff is so high. You have to factor in the cost of labor and the stuff in the actual car. With so many used cars on market, you can get a car living on benefits in Finland. But people like to spend on a car. It is a status symbol, which I do not care for myself. I can’t understand my co-workers, who get a loan to get that new Yaris which will lose third of its value in tax after you drive it off the shop.