More than 80% of Americans can't afford a new car

80% seems like a high ratio. This number seems like it may reflect people who can't afford the car they want, versus affording the car they need..

I paid right around $13,000 for a 1993 Plymouth Sundance off the showroom floor in 1993. I had zero cash to my name at that time in my life, but had no problem making payments. I think that situation describes a lot of car buyers in America. I guarantee the below is a better and safer car, available right now for the same price I paid in 1993.

Are people really that much worse off now than a warehouse worker making $6.50 an hour in 1993, or is this a case of everyone wanting a huge SUV or an entry-level Mercedes instead of an affordable car?

I'd rather have the Sundance. Preferably a Duster with the V6. Dark green with gold alloys please!
 
I'd rather have the Sundance. Preferably a Duster with the V6. Dark green with gold alloys please!
That's exactly what I wanted, but snagged this one because it was all there was within a reasonable distance of me. V6 manual....really fun car.

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This one's getting a manual transmission swapped into it right now.

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Have you tried to buy one of the cheaper cars new lately? A lot of them have the largest market adjustment, as a percentage of MSRP.

The biggest problem we have is a lack of public transportation. I know everyone here will roll their eyes, but its true. When we try we don't just buy more busses like they do in functional countries - we spend big bucks on rapid transit, and EV buses. Easier to hide the grift I suppose?

They also don't put transit routes where normal working people live. They stop at places that provide the highest optics for photo ops in ribbon cutting ceremonies.
I do somewhat agree. Big cities at least do have somewhat functional buses, at least in CA, where I grew up. But still, Americans are not buying cheaper cars when they could. The lack of buses isn’t what’s making them buy $60k trucks and SUVs
 
Have you tried to buy one of the cheaper cars new lately? A lot of them have the largest market adjustment, as a percentage of MSRP.

The biggest problem we have is a lack of public transportation. I know everyone here will roll their eyes, but its true. When we try we don't just buy more busses like they do in functional countries - we spend big bucks on rapid transit, and EV buses. Easier to hide the grift I suppose?

They also don't put transit routes where normal working people live. They stop at places that provide the highest optics for photo ops in ribbon cutting ceremonies.
The unfortunate irony about mass transit in Dallas is that we have trains and buses going to a lot of different areas of town, but people don't like to ride them because they're completely overrun with homeless and crackheads, and smell like vomit and pot.. I was riding for a while last year but have stopped because I'm paranoid about what may happen to my car while it's parked at the train station. It's a bit of false economy when you try to save money riding mass transit, but you have to pay a deductible in your comprehensive insurance because somebody has bashed in all the windows in your car.
 
The unfortunate irony about mass transit in Dallas is that we have trains and buses going to a lot of different areas of town, but people don't like to ride them because they're completely overrun with homeless and crackheads, and smell like vomit and pot.. I was riding for a while last year but have stopped because I'm paranoid about what may happen to my car while it's parked at the train station. It's a bit of false economy when you try to save money riding mass transit, but you have to pay a deductible in your comprehensive insurance because somebody has bashed in all the windows in your car.
I have not heard of any vandalism issues at the park and rides around here, but were a much smaller city.

The issue I have is the bus doesn't go anywhere but downtown. My daughter rode it downtown one summer for a job she had - no issues. However I looked into it just to use for fun. To get anywhere I wanted to go I had to take the express bus from here downtown, then take another bus to a regional "super center", then a third bus to wherever. 2.5 hours later...

Realize this is a city under a million people, and the sad part is that express bus runs right by two different "super centers" but doesn't stop. You know where it does stop - Boeing. I asked my daughter how many people got off and on at Boeing, and she said no one ever, almost. So its just for show - so Boeing can say there green or something.
 
would love to see a breakdown of how much the cost of a new car specifically is caused by govt regulation
The Kia Seltos is sold in India between 1M and 2M Rupees, or between $12K and $24K USD. Its the same basic design as sold here.

The $12K base model is a manual trans, but best I can tell still includes front and side airbags, AC, power windows, ESC, LED headlights etc.
Here they start at $24,500

https://www.kia.com/in/our-vehicles/seltos/specs.html#trim-0
 
Modern car design is driven by government regulation that started in 1966. It’s nothing new and they have evolves over those entire 58 years.

Not sure what your point is, don't ask because it's been going on for 60 years? I'll pass.
 
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Backup cameras were required after kids on tricycles were being run over by people backing out of their driveways and couldn't see them in the rearview mirror.

TPMS were required after the Ford Explorer rollover crashes when people didn't realize their tires were underinflated.

Well, as usual, the rest are being forced to pay to accommodate the lowest common denominators
 
Here we go again-
Turbos are reliable FACT . TPMS prevents tires from being ruined and from blow outs-FACT. Backup cameras will/do save kids lives-FACT.

Of all the things to pick out-you picked two that add tremendous safety factors-FACT.

Why in the world wouldn't you want TPMS to save a tire from being ruined -being how expensive tires are these days?
I know-you are such a great driver (how old are you?) you don't need them.

Broad strokes. NA engines are more reliable and cheaper to build. Not debatable. Though a fair share of great NA engines have been knocked down a peg in reliability with mds/afm systems.

TPMS is a nuisance system that has never provided me with anything other than additional costs and headaches. I wouldn't willingly pay for it. The real turds on the road who need it are the least likely to pay to maintain it. Same goes for a backup camera. Can't see out the things well when there's some road dirt back there anyway. Should we have a mandated mini wiper blade and washer over the camera lens?

In my 30s.
 
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Broad strokes. NA engines are more reliable and cheaper to build. Not debatable. Though a fair share of great NA engines have been knocked down a peg in reliability with mds/afm systems.

TPMS is a nuisance system that has never provided me with anything other than additional costs and headaches. I wouldn't willingly pay for it. The real turds on the road who need it are the least likely to pay to maintain it. Same goes for a backup camera. Can't see out the things well when there's some road dirt back there anyway. Should we have a mandated mini wiper blade and washer over the camera lens?

In my 30s.
On camera when dirty, wife’s 2018 VW sprays water if operate rear wiper washer and in reverse…..

You can’t change the fact stuff is required so why exert energy being upset?
 
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They are if you're buying 3+ years older than new. It's the barely used ones that are at times higher than new.
I recently saw a 2024 Tahoe High Country for sale at GMC with 206 miles and it was $76k. I’m thinking $16k price drop for 206 miles? Why is this vehicle even available shouldn’t it be snatched up immediately? Or is it that $76k is $76k and it’s a lot of money period and not simple to move a vehicle with that price tag. For me, I want 2025+ and it was flat white, a color I don’t like at all….
 
The article said 10% of income. Isn’t the simple solution to up that number to 60%, and now anyone can afford anything? Almost?

Today I don’t know where all the info is coming from. My buddy lives in Jacksonville. He said his 3 buddies all work in it and in conversation they all make over 250k and say they are underpaid. To me his number sounds high, but he said no. At any rate it would seem that more and more each individual really needs to assess their own situation and not base them on everyone else. Men traditionally lied about salary and height. Now they lie about a lot more and at a very rapid pace. My .02
 
You can’t change the fact stuff is required so why exert energy being upset?
Something will change and has changed. The majority can't afford it. So they will sell less or adapt.

At the same time there are subsidies for the type of car they want you to drive.

You can change the fact quite easily actually - just don't buy one. The overly indebted legacy US Auto Industry will most likely collapse under its own weight in the next recession, whenever that is.
 
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I bought a new car in January and love it. Needed it? No. Wanted it? Yes.
Yea, for sure. You can't take those saddlebags to heaven. When I was young and dumb in '18 (Age 70) I bought a Forester XT with none of the options of eyesight, and warning lights when you pull out to pass. I was afraid they would break ($$$$$). But duuuhhh....they have a warranty and I bought the extended warranty.

The latest 2 vehicles I bought have all the bells and whistles. When the basic warranty runs out I get rid of it. At that point it will need tires and who knows what. My '22 Forester only lost $8,500 over 3 years. So I lay out $6500 and brand new warranty. Won't spend a dime on broken stuff.

Someone said in an earlier post that if you earned less than 100k/year. I earn well under that and the m any cars I bought new over the last 56 were bought cash! So much for that theory. Even though I am not wealthy by any standard. I consider it a necessity to have the safest up to date car possible. That's just me.
 
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Yea, for sure. You can't take those saddlebags to heaven. When I was young and dumb in '18 (Age 70) I bought a Forester XT with none of the options of eyesight, and warning lights when you pull out to pass. I was afraid they would break ($$$$$). But duuuhhh....they have a warranty and I bought the extended warranty.

The latest 2 vehicles I bought have all the bells and whistles. When the basic warranty runs out I get rid of it. At that point it will need tires and who knows what. My '22 Forester only lost $8,500 over 3 years. So I lay out $6500 and brand new warranty. Won't spend a dime on broken stuff.

Someone said in an earlier post that if you earned less than 100k/year. I earn well under that and the m any cars I bought new over the last 56 were bought cash! So much for that theory. Even though I am not wealthy by any standard. I consider it a necessity to have the safest up to date car possible. That's just me.
What's interesting is my buddy was an avid DR fanboy, everything was can't have this cant have that. This seemed a bit ridiculous when in 2019 our HVAC broke. I don't rush so summer 2019 we did without (well I bought 2 really inefficient portable units that didn't have an intake and exhaust hose, just exhaust--i.e. cooling cooled air). Come 2020 I got a new Trane with a 94% furnace, and financed $15k at 0%. Price was same doing that or not. As a matter of fact not every contractor offered 0% nor did they offer the ability to finance the entire job.

Anyway my buddy read me the DR riot act--you don't pay cash for the hvac, you don't get it. I said but I have two others in my household who would complain if no AC--he said too **** bad. You don't pay cash, you don't get it, you never do 0% because you are spending money you don't have. Sigh.

Flash forward to 2024. He hates DR, and is telling me all the time what the latest credit report score is of his, and he's getting more credit cards all the time.

A couple of months ago he even mocked DR about some some cruise he was offering with his fans, and also that he retired. I'm not sure what DR ever taught anyone and seemed to have done ok without paying for his advice.

edit My point is not everyone is the same. I'm planning on for the first time, buying a car that costs 6 figures with tax. The most I ever spent was $44k to date, and that was back in Dec. 2006. I still have and love that car, and am driving it to work tomorrow.
 
What's interesting is my buddy was an avid DR fanboy, everything was can't have this cant have that. This seemed a bit ridiculous when in 2019 our HVAC broke. I don't rush so summer 2019 we did without (well I bought 2 really inefficient portable units that didn't have an intake and exhaust hose, just exhaust--i.e. cooling cooled air). Come 2020 I got a new Trane with a 94% furnace, and financed $15k at 0%. Price was same doing that or not. As a matter of fact not every contractor offered 0% nor did they offer the ability to finance the entire job.

Anyway my buddy read me the DR riot act--you don't pay cash for the hvac, you don't get it. I said but I have two others in my household who would complain if no AC--he said too **** bad. You don't pay cash, you don't get it, you never do 0% because you are spending money you don't have. Sigh.

Flash forward to 2024. He hates DR, and is telling me all the time what the latest credit report score is of his, and he's getting more credit cards all the time.

A couple of months ago he even mocked DR about some some cruise he was offering with his fans, and also that he retired. I'm not sure what DR ever taught anyone and seemed to have done ok without paying for his advice.

edit My point is not everyone is the same. I'm planning on for the first time, buying a car that costs 6 figures with tax. The most I ever spent was $44k to date, and that was back in Dec. 2006. I still have and love that car, and am driving it to work tomorrow.
I retired at 55 because I didn't intend to DR. I had rentals all leveraged with mortgages. 20 years later they are all paid off and supply part of retirement income.
 
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