It's the "correct" thing until it isn't... because there's an entire industry designed to profit off of punishing you for it. Without regulation it used to even trick you into getting over your head... credit card bills wouldn't even do you the basic courtesy of warning you about how much interest you're paying in an effort to obscure real costs.

Businesses still prey on this sort of obscurification. Ask any Uber driver how much wear and tear reduces their income and you'll get a blank stare. Restaurants pushed for no taxes on tips because realistically minimum wage increases cost them more than this sort of glad-handing "don't worry about it, look at what you have now!"

It's a trap that primarily catches disadvantaged people... industries depend on trapping people. A socially health society should not accept this.

Consider another series of facts: the average car loan is $50,000. The average payment is in the area of $700... only 10% of monthly car payments are under $400. Median household income is $78k, rate of household car ownership is 1.8. This should be economically terrifying, but it's just business as usual.