I can afford a new car. Want to know how I can afford a new car?
By not doing stupid things like buying new cars.
More Than 80 Percent Of Americans Can’t Afford New Cars
Submitted 1 year ago by boem@lemmy.world to technology@lemmy.world
https://jalopnik.com/more-than-80-percent-of-americans-can-t-afford-new-cars-1850906956
Comments
SBJ@sh.itjust.works 1 year ago
hark@lemmy.world 1 year ago
It can depend. I bought new in 2017, but it was for a 2017 chevy volt. It was discounted plus had a $7500 tax credit (which I wouldn’t get if I bought used). Final price after absolutely everything was about $20k, though the money I saved on gas helps bring that down. Still driving it to this day and loving it the whole time.
Nommer@sh.itjust.works 1 year ago
Just bought an 11 year old car for 12k. Because a new one would’ve wiped out my savings and then some after saving for 5 years to replace my 20 year old car. Nobody can afford shit.
lustrum@sh.itjust.works 1 year ago
People need to stop “pretending” they can afford all this shit, it’s not needed and noone cares, who are people showing off too?
New iphone? Don’t need it
Maybe if we stop buying shit these companies will actually try
tsonfeir@lemm.ee 1 year ago
They’ll just cut you off from your subscription if you don’t buy buy buy.
Tb0n3@sh.itjust.works 1 year ago
I bought a boat last year and now I want a bigger one. I’ve got lots of disposable income because I don’t live beyondy means. Lots of people carry credit card debt and spend stupidly. Don’t do that and you’ll likely be ahead of most people.
HotboxedSubmersible@lemmy.world 1 year ago
I’m curious. What car did you buy? I hate how everything is so inflated. I bought a mint civic si for 8 grand like 6 years ago. I kinda want insight/realize everything is fucked.
Specific_Skunk@lemmy.world 1 year ago
We picked up a 12 year old civic hatchback before Covid for 5k and it was in immaculate like-new condition, low miles. It got totaled right after our other car’s engine finally wore out. I then found a 10 year old Toyota for 16k. It was the lowest price in a 200-mile radius for cars/small trucks with under 150k miles on them that weren’t limping/totaled/savaged.
It was fucking flabbergasting.
Nommer@sh.itjust.works 1 year ago
You got yours 6 years ago. 8k was about average for a decent used car then. Now you’re paying almost full price for a 5 year old car or if you’re okay with a shit box that may or may not last then you can drop 5k.
Chunk@lemmy.world 1 year ago
Don’t buy a new car. New cars are for rich suckers. Cars are the most common type of depreciating asset.
KillAllPoorPeople@lemmy.world 1 year ago
I saw this on TikTok and it’s been burned into my brain since.
cdn1.frocdn.ch/vZBqPK4EuWepdGt.mp4 (link might not work with some privacy/security settings).
The amount of money seemingly regular people are dumping into car payments is unreal.
GBU_28@lemm.ee 1 year ago
If you’re rich you don’t care
potato@lemmings.world 1 year ago
exactly why you should go for a second hand one if you aren’t drowning in generational wealth.
billy_bollocks@sh.itjust.works 1 year ago
Taking out a loan for a vehicle does not mean you are rich lol.
Anyone can get financing for a shitty new car, not everyone can figure out how to retire by the age of 55
Kinglink@lemmy.world 1 year ago
shrug and?
I know most people want “New cars” and fine, go chase that over priced luxury, but I’d rather a car that’s 1-2 years old that’s dropped more than half the price, and being passed over because new shiny thing came out.
People shouldn’t have to drive beaters, but buying a car for 10k isn’t a bad decision unless you’re extremely well off our only care about status symbols.
Like there’s a reason I was able to buy a house, and a good job helped, but also my wife and I lived with in our means, which is something I feel that isn’t talked about in the consumerism age. (You can buy something new, but for most things you don’t need a yearly iphone/car/or anything. A good 50 inch tv works well for a tenth of the price of the newest one. ) And yet I see people complain about not having a lot of money yet they’re always talking about the newest graphics cards, newest tvs, and newest tech… I wonder why.
treadful@lemmy.zip 1 year ago
I’d rather a car that’s 1-2 years old that’s dropped more than half the price […]
Except that doesn’t really happen anymore. Shoot, I’ve seen some cars appreciate in value after they roll off the lot in recent years. Hoping that reverses soon, but it sure isn’t like it used to be.
kmartburrito@lemmy.world 1 year ago
Take the Toyota 4runner for example - they’re incredibly reliable because they are simplistic in many ways with bullet proof components. You can even find 5 year old models that are within 5k of a new one.
the_q@lemmy.world 1 year ago
Look at this guy with his $10k…
SaltySalamander@kbin.social 1 year ago
Get a better job. If you can't afford a $10k car, you're doing something wrong...
lustrum@sh.itjust.works 1 year ago
Yeah it’s insane. I bought a 1 year old Hyundai and knocked tons of depreciation off an already cheaper brand.
At my work people be driving around in leased Range Rovers/AMG Mercs. Then they will take the piss out of my car.
Seriously? I now have more disposable income because i’m not wasting it renting a car and also I own my car… It should be me bragging
bighatchester@lemmy.world 1 year ago
I got a 2021 car last year with 6000km on it . It was almost full price .
Trebach@kbin.social 1 year ago
Probably because it only had 6000 km on it. Average is closer to 15000 km/year.
Tb0n3@sh.itjust.works 1 year ago
Don’t look at pickup prices. Mine was worth the same at 2 years as new.
Semi-Hemi-Demigod@kbin.social 1 year ago
A decade ago I was able to buy a shitbox Silverado 1500 crew cab for under $15k that ran till it rusted out from under me halfway back from the moon. It hauled garbage, pig feed, and two moves without a complaint. Same truck today would be $30k minimum and at that price I'd be too afraid of scratching it to have any fun.
GBU_28@lemm.ee 1 year ago
So sell it and get new
Riyria@sopuli.xyz 1 year ago
I have a 2020 rav4 and it is only valued at $3k less than what I paid for it brand new. This isn’t a reality anymore.
You999@sh.itjust.works 1 year ago
Arguable the case for purchasing a brand new vehicle starts to make more sense as BEV become the majority as the batteries are a consumable that degrades with use and time. So long as the increased price is offset by the longer utilization of that battery.
theneverfox@pawb.social 1 year ago
Yeah, of course… But they’re also replaceable. You can even check the individual cells, swap out the worst ones with cells from other used packs, and end up getting back up to decent capacity. There’s a whole statistics, mean time to failure aspect to batteries - it’s not going to take them back to new, but swapping out the worst cells can get you a lot better performance
Or you could just replace the batteries with newer, likely better, battery banks. The first option needs a certain scale, but would be cheap, the second would be a straight range upgrade over even the factory range.
There’s also the fact that electric cars are much more mechanically simple - this is unlikely to catch on under our current economic system, but it’s way easier to swap electric motors than an engine…
My points being, I think we need to make way less cars, and electric cars are actually easier to repair (at least from a physics and resource perspective, hostile design and economic pressures could easily eat up that difference)
Uranium3006@kbin.social 1 year ago
but also my wife and I lived with in our means, which is something I feel that isn’t talked about in the consumerism age.
the problem is the basic cost of living is going up beyond what can be afforded and people scream at you about not making extremely bad decisions you didn't even make and don't have to in order to end up struggling.
FeelThePower@lemmy.dbzer0.com 1 year ago
I can’t even afford an old car lol
dylanmorgan@slrpnk.net 1 year ago
I can’t afford a used car. My dad helped me buy my current car and if it does I’m fucked.
terminhell@lemmy.dbzer0.com 1 year ago
2 years ago I was in need of a new truck (work related). Practically all the used stuff that’s worth a dam was priced not far behind if not more than new. The kicker, the new ones I was interested in weren’t available…so I was forced to buy used.
manapropos@lemmy.basedcount.com 1 year ago
The newest car I’ve ever owned (and currently own) is a 2007 model. Not gonna lie, with all the BS getting loaded into cars nowadays I think I’ll keep it that way. It’s easier just to have a couple of cheap shitboxes in the driveway that way you have something to drive when one of them inevitably needs work
bighatchester@lemmy.world 1 year ago
I got a almost new 2021 last year and there’s no key hole for the door so when the key fob battery died in the middle of the winter I was stuck outside looking up on YouTube how to unlock my car . Turns out you have to pry off a piece of plastic that I ended up breaking to use my key to unlock the door . It also sets off an alarm when you open the car that way . Who thought that was a good idea ! To make things worse it was like -30 C and I had my 5 year old with me because we where sliding.
electricwater@infosec.pub 1 year ago
That’s why you read the manual, especially for a complex peace of tech, when you buy the thing. Just because you didn’t bother to look up how stuff works doesn’t make it bad. This one’s on you.
BonesOfTheMoon@lemmy.world 1 year ago
Here’s another reason why taking transit doesn’t bother me. For five bucks a day I can listen to podcasts and music and read books for 30 minutes, and let someone else take care of everything, I do not love everything about the bus (really you have to make everyone disembark during rush hour so you can cram your obesity scooter on there so you can go to Tim Hortons so nobody else can sit down?), but honestly it’s pretty stress free. I realize not everyone has access to transit but I think people should make more effort to use it.
IonAddis@lemmy.world 1 year ago
really you have to make everyone disembark during rush hour so you can cram your obesity scooter on there so you can go to Tim Hortons so nobody else can sit down?
Has it…occurred to you that some disabled people have mobility issues or pain disorders that limit mobility to begin with, and that weight gain is a byproduct of not being able to walk or move or stand for very long without trouble?
I had a boss who had dwarfism and used a wheelchair 80% of the time. 20% of the time he slowly, painfully did hobble about–but it was clear as day WHY he was higher weight than he should’ve been. My own blood pressure would spike hearing the tiny sounds of pain he made when got out of his wheelchair and moved.
I have a friend with POTS–and if you’re unfamiliar with that, basically she stands up and her blood pressure and heart rate is malfunctioning so her heart acts like she’s running a marathon, the beats per minute go insane…but blood is pooling in her feet and they’re turning purple where you can’t see it because things are out of whack and despite her heart going haywaire, there’s not enough pressure to get the blood out of her feet and elsewhere. This condition happened prior to any weight gain.
I can hear her breath start to go wobbly just doing simple things because her body doesn’t regulate her blood pressure and heart rate normally. She’s gained weight because she’s at risk of passing the fuck out if she is on her feet for very long–she has to literally plan out doing simple things like going to the grocery store because if she pushes herself she might end up downed on the sidewalk relying on the helpfulness of strangers to get back up. It’s taken her many years to accept she really shouldn’t be pushing herself into a collapse because she’s worried that people will judge her for being “lazy and fat”. Comments like yours about “obesity scooters” only act to tear down all the people who ARE trying their hardest and still having their body fail them.
I have a different friend who has thyroid problems, she inherited them from her mom (and her bro has them too), and weight is a bitch for her to manage because her thyroid is fried.
I just broke my foot in July, and watched my weight inch up because it’s really fucking hard to get up stairs when you can’t put weight on one foot. I was semi bedbound for like 2 months. I’m LUCKY in that my foot will heal, but I don’t even snack and I gained 15lbs because of that one little temporary mobility issue. I’m LUCKY in that once it heals, I will be able to move normally and lose what I gained.
You could’ve made your point about transit without taking pot-shots at disabled people, who often are stuck in a terrible situation of their body failing them medically, and society often forcing them into poverty to be able to access the care they need.
Seriously, why isn’t it possible to champion mass public transit for all without shitting on the people who use it by necessity currently?
BonesOfTheMoon@lemmy.world 1 year ago
You don’t have to go to Tim Hortons at rush hour when everyone is using it to go to work and school, and inconvenience everyone on the bus making them late while you back your scooter on because you just have to go get your 12 pack of donuts right now. Just wait a little while until the buses are quieter for pity’s sake.
Vqhm@lemmy.world 1 year ago
We’re you refered to physical therapy after breaking your foot? Or are you able to see if insurance will pay because your mobility has been reduced?
I had several injuries in the military that left me unable to stand, walk, drive a car, or balance for very long. With the help of physical therapy I was eventually able to walk properly, then after some time I was able to take a ride to work a job where I was sometimes sitting but often standing. Eventually I was able to work and exercise enough that I got all my balance and mobility back.
Having public transit helped me when I still didn’t have enough fine motor control to operate a pedal and brake.
Not everyone is on the same journey, but please see if you can access physical therapy. Please advocate for not just healing but making yourself whole.
manapropos@lemmy.basedcount.com 1 year ago
weight gain is a byproduct of not being able to walk or move or stand for very long without trouble
Weight gain is a byproduct of consuming more calories than your body expends. Not everyone can walk or be active, but everyone can put the fork down. It’s quite simple actually
Seleni@lemmy.world 1 year ago
The problem I run into is time. And sometimes location. My previous job, for instance, was far enough out that there was no bus service; I had to drive. My only other option was a 2-hour transit ride and then a half-hour bike ride, partly on gravel roads.
And my friend has a job that’s 15 minutes by car, or 45 minutes away by bus. Even worse, with recent construction messing with the trains, his commute has gone to 2 hours plus.
And this is in a city with a decently robust transit system.
BonesOfTheMoon@lemmy.world 1 year ago
No definitely transit should be made more robust, I know it doesn’t work for everyone. Get light rail transit everywhere and make 15 minute commutes, I say. Make transit more convenient than driving.
chiliedogg@lemmy.world 1 year ago
The biggest problem I run I to with transit in most cities is the time sink, security flaws, and expense.
I drive to a park and ride where I have to pay 12 dollars to have my car broken into. Then wait 20 minutes to pamy another $15 to take the light rail that drops me off 8 blocks from my destination, then wait 20 minutes to pay 5 bucks for the bus that drops me 2 blocks away, then walk to my destination.
Or I could drive straight to my destination, pay 8 bucks for the parking garage with a security gate, and save an hour.
oatscoop@midwest.social 1 year ago
Right, the “take mass transit” works great … in places with functional mass transit.
Knoxvomica@lemmy.ca 1 year ago
Bike or electric scooter. Not sure what the distance is but anything under 25 kms is feasible.
TheSanSabaSongbird@lemdro.id 1 year ago
Well there’s that and the fact that if you’re a tradesman --or woman, or whatever-- having a truck or van can be pretty crucial to your ability to make a decent income.
I currently have a company vehicle, but for years, prior to my current position and when I was a contractor, I was obliged to own my own truck or van for very basic practical reasons.
verdantbanana@lemmy.world 1 year ago
with used vehicles doubling in insurance costs not to mention maintenance how are current paychecks keeping up
plus taxes on said vehicles have increased even after deductions for milage it is still higher than before
how is anyone even purchasing new vehicles?
how the f#%k are we not in the streets
guckfoogle@sh.itjust.works 1 year ago
Just be glad you don’t live in Detroit or you’d be shelling out close to $6000
M0oP0o@mander.xyz 1 year ago
Can’t have shit in Detroit.
(also funny that the motor city is not a viable place to have a motorized vehicle)
FlyingSquid@lemmy.world 1 year ago
But you shouldn’t have to have a car in Detroit. All of our cities need robust public transportation systems.
CaptPretentious@lemmy.world 1 year ago
Same boat. Insurance costs have been going up for the last few years. I tried to talk to them about it… they said ‘well everyone else is getting in accidents, you don’t even know!!! It’s crazy out there’. Same vehicle. My only ‘options’ were to let them install a bunch of tracking devices and software (fuck that) or reduce my coverage considerably.
Gosh I love the for profit insurance I’m forced to have that gets to dictate everything.
calypsopub@lemmy.world 1 year ago
At today’s car prices, it’s actually cheaper for some people to use a rideshare every day. Especially when you factor in the cost of gas, maintenance, insurance,and parking. My friend drove for Uber and had a regular daily commuter, a nurse who worked in Houston’s medical center where parking is around $30/day. We have no good mass transit options so Uber was the best choice.
sheogorath@lemmy.world 1 year ago
Sadly it’s dependent on the area, my current area rideshare situation is so bad that it can take you almost an hour to get a driver who won’t cancel your trip because they deem that your trip is not profitable enough. The system’s fucked so you’re pushed to get a car so you can have mobility. This is doubly so when you’ve started having children.
Uranium3006@kbin.social 1 year ago
This is doubly so when you’ve started having children.
we need alternatives to driving otherwise people won't be able to have kids
jonne@infosec.pub 1 year ago
Uber became super expensive as well, post pandemic.
brlemworld@lemmy.world 1 year ago
Yeah, that’s why public transit and multi purpose zoning are important
Uranium3006@kbin.social 1 year ago
exactly. fuck cars
Matriks404@lemmy.world 1 year ago
People living in Central/Eastern Europe: 80%? Amateurs.
VonReposti@feddit.dk 1 year ago
and personally I’d rather buy some nice electric bicycle instead
This is exactly the reason I bought a new and good bike for the price of a used car. And what’s more is that the exercise that comes with it is free and the insurance is exponentially lower.
We really need to make more bike friendly infrastructure around the world so more people have the same option as I have.
inverimus@lemm.ee 1 year ago
I’d love to live and work somewhere where I could bike. The distance to my current job would be doable for me but there is zero bike infrastructure to make it feasible.
Uranium3006@kbin.social 1 year ago
hard fucking agree. we need to infiltrate the road design manual committees and get it written in that it's mandatory to have protected bike lanes on any road with more than 4 lanes of traffic and not a freeway
dynamo@lemm.ee 1 year ago
Opel Astra, forever and ever
denkdaetz@feddit.de 1 year ago
Truly reliable beasts, my family used to drive a mid 90’s Astra F for like 18 years and then it basically rusted away pretty quickly. Engine and everything else was totally fine. I think the only part we had to replace was the alternator…
Bayz0r@lemmy.world 1 year ago
481K new cars were sold in Poland in 2022, so it definitely happens. Sure, that’s 3 times fewer than in France (which has twice the population, though), but it’s far from “anyone”.
And yes, I know you said you “don’t know” anyone who bought one, not that they don’t exist, but I take your meaning to be that it doesn’t happen/is very rare.
jimbolauski@lemmy.world 1 year ago
I have no idea why the Dacia Sandero is not brought to the US. $15,000 for a new car. They would be competing with the mirage and Rio all of which cost much more and are lower quality.
negativeyoda@lemmy.world 1 year ago
New cars?
Shit, we can’t even afford groceries
hark@lemmy.world 1 year ago
It was bad enough before supply chain issues, but now the car companies and dealerships are so used to ridiculous margins and they want to keep it this way as long as possible. Something’s got to give eventually, but if I’ve learned anything since the great recession of 2008, it’s that things can stay terrible for a very, very, very long time.
M0oP0o@mander.xyz 1 year ago
Experts say you should not spend more then 30% of your income on housing (shelter, heat, water, sewer and electricity). If you need a car (live outside a city, have bad city planing, etc.) then this is one more pressure on people.
The current “normal” world exists now only for people making a lot more then the average.
Oh and to better illustrate the gap between prices and wages: en.wikipedia.org/…/List_of_countries_by_average_w… Compare to an average price of 48k caranddriver.com/…/average-new-car-price-down-sti…
angstylittlecatboy@reddthat.com 1 year ago
When have most Americans ever been able to afford to buy new?
onlinepersona@programming.dev 1 year ago
Why owning an average car costs $650 000+
Maybe Americans should move the subsidies they give car owners, car companies, oil companies, etc. to public transport? Well, Europe should do that too, but if Europe can’t there’s no hope for America.
steelrat@lemmy.world 1 year ago
It’s just a $1300/mo payment. What’s the big deal?
Buffalox@lemmy.world 1 year ago
I guess that’s why used car prices are through the roof too. My neighbor bought a nice but 6 year old car 2½ years ago, he can sell it now at he same price he gave! We bought an older car 4 years ago, and there is no way we can get a similar deal today, prices in this segment have almost doubled! And the prices were already inflated 4 years ago.
It’s ridiculous how expensive used cars have become.
LongPigFlavor@lemmy.world 1 year ago
Honestly good. There are plenty of used and pre-owned vehicles that just need minor repairs or tune-ups. I drive a used 2015 Chevy Spark, financed it back in 2022 and it’s nearly paid off. My car only needed a new battery, new tires, and an oil change. My mom on the other hand financed a new luxury Acura RDX back in 2018 as an upgrade from her 2006 Honda CRV, she’s still making payments to this day. I asked why she didn’t get a newer Honda CRV and she said that she didn’t want the same vehicle as a McDonald’s worker.
seang96@spgrn.com 1 year ago
That’s my car in the picture that I bought this year! Subaru and government fucked me out of my 8K rebate and locked me into the purchase to try and get it or losing $3k.
I have to pay 20% of my income on this loan, Subaru provided a low interest rate loan because of the rebate thing while loan interest rates were over like 6%. I do pay more though making it 25% of my income. Combined with my mortgage I am paying 50% of my income on loans.
Since it is electric and my commute was costing me $160 prior, I am saving about $100/month on gas at least. After 3 years I should have it paid off early. Thinking of getting solar afterwards so hopefully one year in my life my costs will go down enough that I can afford to do nice things or retire.
Critical_Insight@feddit.uk 1 year ago
I’ll rather buy used car and have no monthly payment anyways. A new car is among the worst investments to spend your money on.
Kazumara@feddit.de 1 year ago
The example the article gives is pretty extreme to me:
[Greg] McBride, the Bankrate analyst, walked MarketWatch through a hypothetical car-buying scenario for an average-priced new car that cost $48,000. Taking into account the trade-in value of your existing vehicle, let’s say you knock some money off the sticker price and finance a $40,000 purchase price at 7.5% for five years. That’s an $801 monthly payment — which means you would need to make $96,100 a year if you wanted that payment to be 10% of your income.
I don’t think I’d ever want to spend half a yearly income on any single purchase. An investment in a house being the only exception.
Mr_Blott@lemmy.world 1 year ago
I mean, that’s how it’s always been, isn’t it? When I was young, admittedly some time ago, there would be that one guy where you lived who had his own business, and bought a new car every three years
Literally everyone else had second hand cars. Peer pressure and advertising are the only things that have changed this
In fact, cars are far more reliable now so it makes more sense to buy second hand now
Incidentally, I used to have a rule about 20 years ago that I’d never buy a car between 5 and 8 years old because that’s when everything started to go wrong. After that, all the shitty bits had been replaced!
I wonder if that’s changed or shifted now
SocialMediaRefugee@lemmy.world 1 year ago
Out of curiosity I went looking to see what the 2023 price is for my car and I’m really scared of how I’d afford a new one. After having two used cars turn into death traps I’m not interested in used cars. Even used cars are expensive now too.
soupbowl@lemmy.world 1 year ago
Across the pond in the UK they’re expanding ULEZ and this is a major sticking point. You need to upgrade to more fuel efficient cars, right when buying shopping is expensive enough. They want you to get new cars, and the majority cannot aford them.
Scolding7300@lemmy.world 1 year ago
They’re also pretty much exclusively sell SUVs or heavier car, these are intentionally pricier
SocialMediaRefugee@lemmy.world 1 year ago
You can drive through the poorest looking neighborhood but they’ll still have a $75K+ pickup parked in front.
Ds4zkMjT@lemmy.world 1 year ago
We should not be building our cities in ways that necessitate owning a car.
manapropos@lemmy.basedcount.com 1 year ago
That ship has sailed a long time ago
Player2@sopuli.xyz 1 year ago
Never too late to change. Just look at Amsterdam now vs a couple decades ago
lemmyvore@feddit.nl 1 year ago
It’s gonna be crashing on the shore pretty soon at this rate.
anarchy79@lemmy.world 1 year ago
You’re right, let’s not change with the times but just lay down and die, nothing is worth the effort.
Uranium3006@kbin.social 1 year ago
not really. it's a choice that's remade every year. we can fix it, and people are trying.
FartsWithAnAccent@lemmy.world 1 year ago
!micromobility@lemmy.world
Cappurnikus@lemmy.world 1 year ago
It’s about oil and profits. They want us to need a car to go anywhere. More cars, more oil, more profits, RIGHT?