Personal Finance

3803 readers

1 users here now

Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!

Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)

founded 1 year ago

MODERATORS

nieceandtows@programming.dev

nieceandtows@lemmy.ml

WandererLagomorph799@lemmy.ml

124

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

submitted 9 months ago by Blaze@lemmy.zip to c/personalfinance@lemmy.ml

52 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] oxjox@lemmy.ml 9 points 9 months ago* (last edited 9 months ago) (1 children)

I can’t phantom spending more than $25k on a new car (for myself, I don’t need a family vehicle). I’m in the market for a used car around $15k and even that seems steep. With this article saying average prices are around $40k and 82% of Americans make under $100k, I have to assume people are seriously struggling to afford anything if much of it is going towards car expenses. And that’s just for a car, not to mention housing, food, etc.

Edit: oh…

Manufacturers cite disappointing sales results as primary reasons for discontinuing smaller, more affordable vehicles from their lineup," Yoon explained.

"But car buyers' preferences have also shifted dramatically to larger trucks and SUVs in the past 10 years or so, and even more towards high-tech and comfort amenities in the form of cameras, sensors, radars and large infotainment screens," he said.

Yeah, I’d be a-okay with an fm radio and roll down windows in a compact hatchback, thanks. You people with your fancy cars. It’s all going to be trash with the flick of a firmware update.

[–] CADmonkey@lemmy.world 1 points 9 months ago (1 children)

Yeah, I’d be a-okay with an fm radio and roll down windows in a compact hatchback, thanks. You people with your fancy cars. It’s all going to be trash with the flick of a firmware update.

Nobody makes fun of my wife's little econobox anymore. 1.2 liter engine, 5 speed, and a radio.

[–] oxjox@lemmy.ml 2 points 9 months ago (1 children)

I've been seriously considering a 1970's VW Beetle. My main hesitation / red flag, of all the things that could be a concern with such an old car, is lack of power steering and my need to parallel park in the city.

[–] CADmonkey@lemmy.world 2 points 9 months ago (1 children)

Speaking as someone who has suffered an original air cooled Beetle, they're cool but I wouldn't try to daily it. The lack of power steering would be far, far down your list of issues you will run into.

But for paralell parking a beetle specifically it can be a challenge, because reverse doesn't work like you expect. You have to push the gear lever down, like straight down toward the ground, and hold it, to put it in reverse. So you have to steer with one hand and hold the shifter with the other.

[–] oxjox@lemmy.ml 2 points 9 months ago (1 children)

Good to know about reverse. Thanks.

Wouldn’t be a “daily” per se but an occasional weekend and holiday car. Like, easily under 5k miles a year.

[–] CADmonkey@lemmy.world 1 points 9 months ago

Oh, perfect for that.