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?
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