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Americans can no longer afford their cars (www.newsweek.com)

submitted 10 months ago by jack@hexbear.net to c/urbanism@hexbear.net

90 comments fedilink hide all child comments

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.

(page 2) 49 comments

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[-] BynarsAreOk@hexbear.net 14 points 10 months ago

I just think this is funny considering the US became the biggest oil producer while consumption is relatively flat. If you wrote this headline even 10 years ago with that hindsight you'd look like a complete fool lol.

[-] booty@hexbear.net 12 points 10 months ago

More like american't

[-] HumanBehaviorByBjork@hexbear.net 12 points 10 months ago

FUCKING TELL ME ABOUT IT

(currently repairing my 2004 german shitbox that i need for work in the freezing cold because a shop i took it to in 2021 fixed it wrong and i didn't know enough at the time to check their work and i really can't afford to pay for a tow right now)

[-] pumpchilienthusiast@hexbear.net 12 points 10 months ago

sicko-biker ding ding

[-] 7bicycles@hexbear.net 6 points 10 months ago

Don't think the US has arrived at the point where tricked-out-ride doesn't make sense anymore

[-] pumpchilienthusiast@hexbear.net 5 points 10 months ago

I didn’t choose the fred lyfe, the fred lyfe chose me

[-] Nationalgoatism@hexbear.net 11 points 10 months ago

My advice to anyone who owns a car and is able bodied - learn how to repair cars. Cars and mechanics are just going to keep getting more expensive. Might be your only way forward with current trends. The USA is fucked

[-] Kestrel@hexbear.net 9 points 10 months ago* (last edited 10 months ago)

Hey let's build our our entire manifest destiny lebensraum colonial project post WW2 around not only the need for an inefficient personal transport, but also around a social-economic system that provides a level of income to a (yt) middle class so they can afford to use it. Oh and let's spend the greatest sum of money in human history that will likely ever be achieved to build it. And then finally let's make those personal transport gismos out of reach for the middle class we decided to erase bc profits.

Should be fine.