The Average American can’t Afford a New Car

[davedaze]

raise your credit. if you only have a $700 limit, i guarantee you dont have an extensive credit report even IF your score is good. in short, theyre gonna *force themselves upon you* on the price. Lexus loves to keep the prices high on their cars anyways.

Im a college student and ex-car salesman myself. I want that Kia Optima BAAAAAAAAD man. and i was this -->-Repairing[/COLOR][/B] in all situations.
[/
He knows repped^ I make 60k and my
Credit is poop but I don't have a whip so I'm taking the metro but I will not break and buy a whip until i fix my credit and drop a huge down payment been there done that wait it out and save before you take the plunge

 

[senior flight]

Im straight with he accord

when I get some loot... Im getting something sporty... Honda Civic Si might be fun

 

[jetpacunlimited]

Every year the price of a new car goes up like $1-2K. I'm noticing that I hardly see brand new cars on the road.

The average car is $30K while the average income is $40K.

V8 Camaros and Mustangs are running $40K. V6 Camaros and Mustangs are running $30K. Back in like 2002, you could have gotten a brand new Camaro SS fully loaded for like $31-32K.

Heck, they got a Kia out now that's like $30K!

V8 Mustangs START at 28,900 and V6 Mustangs are as low as 19k.. NEW... WTF are you getting your prices from?

 

[dipsetgeneral]

raise your credit. if you only have a $700 limit, i guarantee you dont have an extensive credit report even IF your score is good. in short, theyre gonna *force themselves upon you* on the price. Lexus loves to keep the prices high on their cars anyways.

Im a college student and ex-car salesman myself. I want that Kia Optima BAAAAAAAAD man. and i was this -->-Repairing[/COLOR][/B] in all situations.

Thank you!

 

[iYen]

That's why you buy a used car with low mileage and services that have been done regularly? Solution to the problem.

As long as you "own" a car there won't be a solution, maintanence costs are rising and warranties are getting more tricky, I rather have a 3 year lease, ride the car out in its prime and then be done with it, on to the next one...as long as you have good credit you won't be dishing out a ridiculous amount of money monthly.

What would happen if someone crashed their leased car?

 

[Kaleo15]

I can believe it. Getting a car in SF is hard with the cost of living. I just started a job making 60k a year and I still have to live in a 300 square foot apartment and can't afford a car. Plus paying for a apartment with a parking lot can really be expensive.

I make a little bit more than you and when I punched it into a cost of living calculator I would have to make 101k to keep my current lifestyle in San Fran.

Dallas for the win.

Same here... If I wanted to move back to Hawaii by myself, it would be a wrap.

Last year, I brought home 100k with a lot of overtime. I'm not trying to live out like that just so I can live in a fancy place.

 

[al audi]

Thanks for the car knowledge fellas.

I'm thinking of coping a older used Lexus. How much money should I bring to the used car lot/auction? Only credit I have in my name is a Student credit card that has a $700 limit.

i have a 98 es300 i use for my work commute it has 224xxx with no signs of giving up

if you maintain an old lex/toyo they run forever

b7 a4 with 120xxx+

an i been car watching for a while now, no clue what i really what next im so indecisive

cant wait till NYC car show this month

 

[al audi]

What would happen if someone crashed their leased car?

GAP insurance is must with a lease.

my next car will be a lease

ive paid a lot in maintenance..........

i dont want that anymore an plus i love cars...........so yes new body/new automotive technology does appeal to me, along with better mpg.

ill prob lease no money down and buy a motorcycle cash off craigs next move.

 

[nyc game]

“What this research indicates, more than anything, is that a lot of Americans are spending too much money on their cars,” Mike Sante, managing editor of Interest.com said

The Mike is only half right.

The other problem is the average income especially in cities like NY, LA, SF, can an average person really afford the quality of life in these overpriced cities on a shoe string budget?

 

[al audi]

The Mike is only half right.

The other problem is the average income especially in cities like NY, LA, SF, can an average person really afford the quality of life in these overpriced cities on a shoe string budget?

yea then throw kids into the mix and ones debt to income ratio an bam..............

 

[Mark Antony]

But you can save that money and be ready to cash out any time.

Just because you have a car fully paid for, doesn't mean you are guaranteed to put any extra money in your pocket bro, I would only recommend that to dudes tat know their way around maintaining a car, know mechanics they can trust, etc. even then you gotta land a good car, which to be honest are not the most desirable cars by young guys, if I had to get a used car best believe I'll be riding around in an old Camry or Corolla, those things are as reliable ad cost effective as they get, of course most young males want the used, almost out of warranty M3 and that's when things get tricky.

To each it's own, we all have our way to deal with things, I've lived through about 10 cars, 6 which were older cars that put me through hell with the exception of a 1994 corolla that I totaled being a dummy, the last 4 were all brand new, 2 scions, 1 Acura and now my Jeep, so I'm just going off my personal experience with owning a used car, financing and leasing.

Word. Get what you want within your means. I've dropped so much in maintenance on older whips I paid cash for.

 

[ninjahood]

That's why you buy a used car with low mileage and services that have been done regularly? Solution to the problem.

As long as you "own" a car there won't be a solution, maintanence costs are rising and warranties are getting more tricky, I rather have a 3 year lease, ride the car out in its prime and then be done with it, on to the next one...as long as you have good credit you won't be dishing out a ridiculous amount of money monthly.

That's why you buy a used car with low mileage and services that have been done regularly? Solution to the problem.

As long as you "own" a car there won't be a solution, maintanence costs are rising and warranties are getting more tricky, I rather have a 3 year lease, ride the car out in its prime and then be done with it, on to the next one...as long as you have good credit you won't be dishing out a ridiculous amount of money monthly.

Leasing cars

 

[al audi]

Ninja.......there are pros and cons to both. An also NYC capital of the fronters at least 75% of them whips are leases........

 

[Betonblck]

Every year the price of a new car goes up like $1-2K. I'm noticing that I hardly see brand new cars on the road.

The average car is $30K while the average income is $40K.

V8 Camaros and Mustangs are running $40K. V6 Camaros and Mustangs are running $30K. Back in like 2002, you could have gotten a brand new Camaro SS fully loaded for like $31-32K.

Heck, they got a Kia out now that's like $30K!

V8 Mustangs START at 28,900 and V6 Mustangs are as low as 19k.. NEW... WTF are you getting your prices from?

Reading comprehension fail. I didn't say they started at those prices and your starting prices aren't even right. Check the website and get back to me. MSRP for the V6 = $22K, V6 premium = $26K, GT = $30K, GT Premium = $35K.

http://www.ford.com/cars/mustang/

The camaro 2LT is $28K and the 2SS is $36K.
http://www.chevrolet.com/camaro-performance-car/features-specs/trims.html

 

[jookz]

beginning of the article sums it up nicely:
“What this research indicates, more than anything, is that a lot of Americans are spending too much money on their cars,” Mike Sante, managing editor of Interest.com said.

while i infer at the end of the article some sour grapes and whining:
On the bottom of the list sits Tampa, Fla., where the average citizen can only afford a $282 monthly payment and a $14, 516 car, quite a ways off from the $601 required. That is just enough to cover a base model subcompact, and not much more. Coming up in the middle is Chicago, where the average household can afford to buy a $20,616 car, with a maximum monthly payment of $417. That’s enough to buy a Honda Civic, and not much more.

- if you're at the bottom of the list, and you can go out and cop a brand new car, then **** and worry about bigger problems
- average cars for average people: if you ask someone to name a regular average car, the majority would likely say a honda civic or toyota corolla
- further, if americans are so worried about the auto industry reflecting their economy, then they should be buying domestic. truecar lists a ford fusion in the chicago zip code as under $20k, which is practically the poster boy for pro-american cars for the average patriot

 

[franco23x]

Make M5's under 35k and everyone will have em

 

[Betonblck]

beginning of the article sums it up nicely:
“What this research indicates, more than anything, is that a lot of Americans are spending too much money on their cars,” Mike Sante, managing editor of Interest.com said.

while i infer at the end of the article some sour grapes and whining:
On the bottom of the list sits Tampa, Fla., where the average citizen can only afford a $282 monthly payment and a $14, 516 car, quite a ways off from the $601 required. That is just enough to cover a base model subcompact, and not much more. Coming up in the middle is Chicago, where the average household can afford to buy a $20,616 car, with a maximum monthly payment of $417. That’s enough to buy a Honda Civic, and not much more.

- if you're at the bottom of the list, and you can go out and cop a brand new car, then **** and worry about bigger problems
- average cars for average people: if you ask someone to name a regular average car, the majority would likely say a honda civic or toyota corolla
- further, if americans are so worried about the auto industry reflecting their economy, then they should be buying domestic. truecar lists a ford fusion in the chicago zip code as under $20k, which is practically the poster boy for pro-american cars for the average patriot

The Civic and Corolla are below average cars. I agree with the article that the average car costs about $30K, which is more Honda Accord and Toyota Camry territory.

The article is also reflecting how the prices of cars has been going higher while wages have not kept up. So the average car is becoming unaffordable to the average American and the standard of living is declining.

 

[Mark Antony]

Get a whip ninja.

 

[ninjahood]

Ninja.......there are pros and cons to both. An also NYC capital of the fronters at least 75% of them whips are leases........

You know da point that alot of ya are missing is da fact that

our money doesnt get us nearly what it got years ago.

No way id get a lease whip, you dont own it & morally i dont lile to front

Woth something that aint mine.

 

[SneakerProSr.]

Ninja.......there are pros and cons to both. An also NYC capital of the fronters at least 75% of them whips are leases........

You know da point that alot of ya are missing is da fact that

our money doesnt get us nearly what it got years ago.

No way id get a lease whip, you dont own it & morally i dont lile to front

Woth something that aint mine.

Ehhh I "own" my car but let me miss a few of these payments and see what happens.

IMO nobody owns a car unless its paid off.

Leasing is fine

My boys wife just got a fully loaded Ford Fusion with leather and everything for 27 out the door.

That folks is an average car IMO it's an above average car and it didn't cost 31

 

[Mark Antony]

Unless they're classic or enthusiast cars, I don't think you should cop a daily driver as an investment and worry about equity at the end of ownership. You pay for the time you have it, be it lease/financing/cash. If you get something at the end that's just bonus. That's just me though.



And OT, I thought about that too. Most people I know make under 40k, how is it new cars are ~30k? seems like a complete imbalance.

 

[oidreez]

i dont see the benefit of leasing a car and there is no need to buy the latest 2012/2013 car when the 2006-2008 model does the same thing. **** I'm driving a 2001 car that's known for bulletproof engines and I'm only at 104,4xx miles

 

[Betonblck]

Ninja.......there are pros and cons to both. An also NYC capital of the fronters at least 75% of them whips are leases........

You know da point that alot of ya are missing is da fact that

our money doesnt get us nearly what it got years ago.

No way id get a lease whip, you dont own it & morally i dont lile to front

Woth something that aint mine.

Ehhh I "own" my car but let me miss a few of these payments and see what happens.

IMO nobody owns a car unless its paid off.

Leasing is fine

My boys wife just got a fully loaded Ford Fusion with leather and everything for 27 out the door.

That folks is an average car IMO it's an above average car and it didn't cost 31

She got a good deal at $27K. That don't take away the fact that the MSRP is over $30K+ for a Fusion.

 

[SneakerProSr.]

I bought a new car last month and got 5200 off MSRP

Dude that bought he wife the fusion also bought an f150 and got 7000 off MSRP

Nobody actually pays MSRP.

 

[freshpairs]

2 paid off cars FTW