In America, we use the term "house poor". Same concept but with houses. People overspend on their cars in the US too. flex culture is out of control in Korea and the US.
A good rule to live a better life: Unless it’s property, only buy the item if you can afford to pay it off immediately. That way, you can avoid unnecessary debt. This is why I’d rather buy a $20k Subaru and own it completely instead of spending the $20k as a down payment on a BMW that will depreciate more than that Subaru over time. Also, learn to do your own basic car maintenance. You’ll save a lot of money, and you’ll know that you’re doing it correctly. Remember that dealerships can totally destroy your car due to negligence. But unless you can prove it, you won’t get any compensation from said negligence.
@@mohammadqbbani501nope, not all women. I buy clothes that are comfortable & functional. My car is pre loved & economical for city driving & has enough room to carry me & my groceries.
@@charzemc It is true that not all women spend on expensive clothes, but the majority tend to do so, unfortunately, and this is almost all over the world.
I’m living in a country in which expensive cars manufactured . But we buy just C3 Cross 25k€ as long run fast in the highway with 200km per hour. Of course big cars overtake me. With Full Kasko . Money for maintenance, tax and insurance ( expensive). Cars for easy transportation. Not for showing to others.
Thank you for your observations on this phenomenon Koreans call “car poor”. What intrigues me is that it seems to reinforce the notion I have that there are, in very general terms, 2 elements to the Korean mindset. The one is that they are so far ahead of the rest of the world in terms of modernity, embracing every new idea in fashion and culture and innovation and yet underneath some of the superficiality that necessarily accompanies modern life they seem hard wired to a more grounded, philosophical and deeper understanding of the world and the things that are important. I have a very close friend who has now returned to Korea after several years of study in the UK. Very often when we got into a deep conversation over some aspect of life he exhibited an ability to contextualise a problem in a way that often surprised and impressed me, a totally different way of looking at things. I often joked that he was my own personal Buddha (he had no religious convictions of any sort) but I did reflect privately upon whether there remains in the psyche (as it were) of your country some element of the wisdom that we always attach to that religion in the same way that Christianity has shaped western thought. He now lives in Seoul, married with 2 small children but we are in touch several times a month and he has not changed and he and his wife both embrace every aspect of the modern world but are never taken in by some of its superficiality and pretence. I suspect that the car poor situation exists amongst some in every country and perhaps the more densely populated our towns and cities are the more we are inclined to express our individuality in an ostentatious way - no point in having a status symbol you can’t afford if your nearest neighbour lives 1/2 a mile away🤔. Thanks for your video, they are always a pleasure to watch.
I think we must be similar in the US - especially in rural areas where if you don't have a car, you can't live b/c you're a 20 minute drive from anywhere you can get food or essentials.
Here I am happily driving my 22 year old car with money in the bank. No electrics to worry about, I service it every 2 years, it runs on cheap petrol and I don’t worry about it getting stolen 😂
Another interesting video. There is already so much stress in Korea. Why add to that stress by having so much debt that you can never repay? I was taught to never buy anything, except a house, unless you can afford it. Anything on your credit card should be paid off every month. To this day, I owe nothing except the mortgage on my house. I drive a Prius. Gets great gas mileage😃
I like electric cars. They are a lot cheaper to run with no maintenance and you can charge at home from solar. Korea makes some really good electric cars and I hope you see more on your roads.
In my country it’s similar but I don’t think it’s to the same degree as in Korea. A lot of people here do lease their cars because they can’t actually afford to buy it. Once you cross the border to our neighboring countries you instantly notice that the cars on the road get less expensive.
@@charzemc Yes, we also had some terrifying incidents with electric cars. Like some weeks or months ago even one case of a man burnt alive in an electric car he bought, with people witnessing this and not being able to help him on time. There were also some cases of fires caused by batteries' explosion (e.g. in a storage of electric scooters). But the electric cars are quite forced within the EU, although many people would prefer to use cars on petrol. Some of my colleagues bought however electric cars (usually those wealthier ones, and they also have a car on gas, besides electric one). Quite popular are currently hybrids, but no those plug-in (PHEV), but HEV.
@@average_korean_manoh that’s good. The Korean electric cars are really good. Chinese cars are also getting really good. My EV is from Sweden but made in China. It’s really good!
As an American who loves vintage cars, I kind of get the mindset BUT I would never use money that I need for living expenses on a new expensive car. If you have extra money, then sure, you can treat your car as a hobby and enjoy it. And I would never buy a car just to impress others. If you don't love cars don't buy an expensive car just for show. I think that's foolish.
This is the reason why the South Korean and particularly the asain nations are emerging with the collapse of the eastern world money luxury status are the focal points instead of extending family legacies. Don't After me this is my opinion and it's only just getting worse the Asian community it's separate and it's sad at all the cost of being just publicly of your status Don't mean to offend anyone but this had to be addressed Publicly😢
What strikes me about your examples is that there is also a kind of honesty about not actually being able to pay. is a bit contradictory. You are free to fake it until you make it, as long as you have your financial affairs in order and don't take out a loan. (except for a house). It's pretty bad when your car ruins your life. Then you won't really achieve your goal, will you?
@@average_korean_man ok. thank you, AKM. The EV is quite new...it's getting quite a lot of attention -- both in Europe and the US. I was just curious about what the car costs in the country in which it's made. I'm planning to visit Seoul next year around September I am told the EV3 and/or 6 can be rented -- so I am quite excited to drive it. The Forte K5 is really a nice car.
It is a remarkable part of the cultural character. China may be the only other country so obsessed with ostentatious consumption to display apparent class status. Arguably, it's worse in China and somewhat grotesque as it it claims to be a communist country. In the US, people also spend above their means with cars, often getting their cars repossessed because payments were not made, but there has been better education and acceptance of the fact that a car is a rapidly depreciating asset.
