Hello to the person living in a bubble. Most people don't spend more than that on a car. The average price of a used car (what most people buy) is $14,375 [1].

Hello to the person living in a bubble. Most people don't spend more than that on a car. The average price of a used car (what most people buy) is $14,375 [1]. The average savings rate in the USA is below 5% [2]. With a median household income of approx $50k [3], then we assume that approx. $2.5k is the average amount an average USA household can afford each year. With average savings of around $6k [3], that's over 5 1/2 years to "get out from under", not including loss of earning, no savings cushion, and not including interest payments. [1] http://www.forbes.com/sites/jimgorzelany/2013/02/14/used-car-prices-stay-high-heres-where-to-find-the-best-deals/ http://www.forbes.com/sites/jimgorzelany/2013/02/14/used-car... [2] http://money.stackexchange.com/questions/23113/how-many-weeks-of-living-expenses-does-the-average-american-have-savings-for http://money.stackexchange.com/questions/23113/how-many-week... [3] http://en.wikipedia.org/wiki/Household_income_in_the_United_States http://en.wikipedia.org/wiki/Household_income_in_the_United_...