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> The average new car price in the U.S. is now over $47K (Consumer Reports). I make a good living and I'm not going to pay that kind of money for a new car! A y
by thatfrenchguy 4y ago
> The average new car price in the U.S. is now over $47K (Consumer Reports). I make a good living and I'm not going to pay that kind of money for a new car! A young person would be stupid to pay that kind of money for a car.
I think what you mean is that enough Americans are stupid enough with money to pay 47k$ for a car (or worse, a 15mg truck/jeep), plenty of $15-25k cars exist, 45k$ cars just look cheaper with 5-7 years financing.
- taylodl 4y agoRun through all the numbers I ran through. The only number you're adjust is financing - which is a big number, but my financing number was based on $28K. Financing $20K drops you to $600, which is still expensive. Get much cheaper than $20K and you're starting to drive up your maintenance costs while you drive down your financing costs. Those maintenance costs come with several other ancillary costs (aggravation, paying for transportation while car is being serviced, missing work, etc.) As I responded in other comments, my calculation didn't even take into account for parking, registration, and vehicle emissions testing costs. Young people are looking at the delta to their monthly expense outlay for getting a car and it's quite considerable.
- 93po 4y agoLast time I shopped (admittedly 8 years ago) there were tons of entry level, cheap Toyotas and Hondas that were only a year or two old with under 20k miles for $10-15k.