Just 10% of new car listings are currently priced below the $30,000 mark, after years of price increases have made vehicles unaffordable to millions.

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.

  • supafuzz [comrade/them]@hexbear.netEnglish
    0·
    11 months ago

    America is hands down the shittiest place on earth to live. First they squeezed everybody out to 2+ hour commutes with unsustainable urban rents; then they raised the price of the cars to make those mandatory commutes; now they’re raising the rents on the suburban and exurban shitholes people got forced into. Nowhere to live, no way to get around.