One thing I've noticed, in my family and everywhere is that the have nots finance and the haves pay in cash. I'm a have not and never paid over $500/month on any vehicle. I often over pay on the principal to shorten the loan.
For the have nots, to save up, would essentially mean not having anything since this world has been turned around to function off of financing everything. Only the haves, have enough disposal income to set aside to save for major purchases. The rest of us must pay as we go.
I always laugh when my multi-millionaire grandfather says the only way to buy a vehicle is to pay cash. Yeh, when I live the good life. :D
