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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.
Lacks a little perspective
I live in Colombia. I’d rather be the poorest person in Colombia than working a regular job in the States, at least here I could go to a doctor
(in the US) A doctor referred me for a brain MRI last week. I live in one of the largest cities in the country, but the doctor was 2.5 hours away. I have no idea when the MRI will be scheduled, if ever.
good, sensible system