I remember a news article a while back saying how some Qataris had taken out huge loans (back when the banks still gave them) in order to go on their summer holidays, because it was important that they were seen to be going to a nice place.

I guess it's the same with cars - it's considered important by some to be seen driving the latest model or whatever, even if it means taking a loan you can't afford to buy it.

In the UK we call it "keeping up with the Jones'.