Earlier quoted context omitted.
> $1k/mo is a new car with no down payment The average monthly payment for a used car is $500/mo, and $700/mo for a new car: * https://www.nerdwallet.com/article/loans/auto-loans/average-... Then add maintenance, insurance, depreciation, fuel. And that's just the stuff that shows up on a spreadsheet (of which depreciation most folks don't really think about).
You wouldn't consider depreciation a cost in addition to your car payment, depreciation is on your balance sheet and your car payment is on your cash flow. Your balance sheet would factor in only your interest payments and depreciation, the principal on your loan is irrelevant there because it's being realized as equity. The average monthly payment for a used car being $500 does not mean that somebody on a low income…
Somehow poor people can afford these cars that cost way more than they make.