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>Everyone can "afford" a flagship smartphone. Only 36$ per month Everyone can afford a car only : 340$ a month.

But auto loans were around since the 20s. What changed?

https://lendedu.com/blog/history-of-auto-lending-industry

Financial responsibility, it would appear: https://www.businessinsider.com/credit-card-debt-record-2017...

It seems like everywhere is pushing financing as an alternative to payment upfront. Even small (<$50 purchases) are being offered financing through services like Klarna. It really feels like it's become an option for almost any purchase now.

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