There is a large amount of YOLO going on, and this is reflected in the higher amount of credit card delinquencies:

https://fred.stlouisfed.org/series/DRCCLACBS

Do not assume that because someone has expensive things that they also have a lot of cash and no debt.

> When dealerships have shortages they do massive markups. Lets are sold but huge profits per car.

If price increases are due to supply constraints profits should equalize, not increase (This is called price elasticity). People need cars and manufactures are taking advantage of that fact. The demand (actually absolute need) for a car make the price extremely inelastic.