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submitted 2 years ago by jack@hexbear.net to c/urbanism@hexbear.net

But as things stand, cars are still really expensive for many Americans. Just 10 percent of new car listings are currently priced below $30,000, according to CoPilot. Things are not much better in the used car market, where only 28 percent of listings are currently priced below $20,000.

According to an October report by Market Watch, Americans needed an annual income of at least $100,000 to afford a car, at least if they're following standard budgeting advice, which says you shouldn't spend more than 10 percent of your monthly income on car-related expenses.

That means that more than 60 percent of American households currently cannot afford to buy a new car, based on Census data. For individuals, the numbers are even worse, with 82 percent of people below the $100,000 line.

$100k to afford a car! Wtf.

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[-] ClimateChangeAnxiety@hexbear.net 35 points 2 years ago

Just 10% of new car listings are below $30,000

Okay this does bring up a question I’ve had for a long time: Who the fuck buys new cars? I’ve only known like 1 person in my life who bought her car new and it’s because she was a moron who wanted a fancy new mustang. Even relatively wealthy adults I know buy like 3-5 year old cars.

I’ve always questioned this. It genuinely doesn’t seem like there have ever been enough people buying new cars to keep the supply of used cars going. I don’t understand how this works.

[-] CDommunist@hexbear.net 12 points 2 years ago

The only person I ever knew who bought a brand new car also "invested" a significant chunk of their life savings into youtube hustle and grindset crypto scammers

So they're a millionaire now, right?

[-] CDommunist@hexbear.net 8 points 2 years ago

Remember: It's never a loss till you sell at a loss

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this post was submitted on 17 Jan 2024
119 points (100.0% liked)

traingang

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