

I’m not saying that there weren’t many bad decisions made, but this is also misdirecting where blame is owed. Cars have gotten more expensive and if you are a family, there really aren’t any low-cost family hauler options. Yes, people make bad choices, but they are often lead on by sales people and, in the US, they likely have to have a car.
See the latest Climate Town

The financial literacy in this country is beyond poor. People really don’t understand money and, likely, that’s intentional.
The “right way” to do this is to not finance the car at all (given that it’s a depreciating asset). You save monthly what a payment would be and buy the car outright. Once you’ve done that, you drive it into the ground and save for the next car the entire time.
People don’t have the discipline for that.