u/JapaneseVillager

This appears to be the folk wisdom. It is supported by statistics.

I don’t understand the economics of this. A new mid-range car is about $50-70k these days. Do people really sell cars for half of the original value every 5 years and spend another huge chunk of money?

Or, do they all get cars on novated leases and never-ending car payments are just the way of life? How does this stack up against cost of living crisis complaints?