Because it's not cool. No one will take you seriously if you don't drive a new car. This is America.
What's really funny, is I know some young guys really in debt with student loans, driving a cheaper leased Benz or BMW, because "chicks won't talk to them" if they don't have "the car". 20 something years old, competed like hell to get a junior job with a big player, and eating cat food, or running up incredible credit card debt to make an impression.
Whatever, should be another thread, or forgotten. Probably not on the PPP side, but looking at the football posts, I'm sure plenty of our upwardly mobile young men will defend this practice too.