This is pretty much it, in the US it's cheap (low interest rates) and easy to get consumer credit. If you compare how much you would earn on $40k if you invested it compared to the cost of the loan, it's often more financially effective to take the loan.
In Europe it's not so easy to get credit, and interest rates are usually higher (in my country, even before the current situation, car loans were close to 10%). It is usually more expensive to take credit, except maybe with real estate.
In Europe it's not so easy to get credit, and interest rates are usually higher (in my country, even before the current situation, car loans were close to 10%). It is usually more expensive to take credit, except maybe with real estate.