urbanism

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This was supposed to be c/traingang, so post as many train pictures as possible.

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

submitted 9 months ago by [email protected] to c/[email protected]

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But as things stand, cars are still really expensive for many Americans. Just 10 percent of new car listings are currently priced below $30,000, according to CoPilot. Things are not much better in the used car market, where only 28 percent of listings are currently priced below $20,000.

According to an October report by Market Watch, Americans needed an annual income of at least $100,000 to afford a car, at least if they're following standard budgeting advice, which says you shouldn't spend more than 10 percent of your monthly income on car-related expenses.

That means that more than 60 percent of American households currently cannot afford to buy a new car, based on Census data. For individuals, the numbers are even worse, with 82 percent of people below the $100,000 line.

$100k to afford a car! Wtf.

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[–] [email protected] 19 points 9 months ago (2 children)

I am convinced cash for clunkers will remain one of the worst impacts on the environment for ages to come. I know its better to change to electric cars but for those that cant. Buying used is the second best option to buying a new low cost ICE car.

[–] [email protected] 14 points 9 months ago

know its better to change to electric cars but for those that cant.

Cash for Clunkers precedes being able to buy an EV by a lot, that was always just a subsidy to car manufacturers

[–] [email protected] 5 points 9 months ago

I'll die on this stuipid neoliberal hill, but Cash for Clunkers scrapped about 680k cars. In a year where 14 million cars were scrapped, that's a pretty small amount.