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

submitted 9 months ago by Blaze@lemmy.zip to c/personalfinance@lemmy.ml

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[–] blueskycorporation@lemmy.world 1 points 9 months ago

So the average transaction price for a new vehicle is just shy of $48000. It blows my mind that people are buying such expensive vehicles and then complaining they can't afford them. We bought a new vehicle 3 months ago and its price is only half that amount. Yet it comfortably seats two adults and two kids.

There are plenty of vehicles for sale under $30k. But the people are choosing not to buy them. 🤷‍♂️