Not Logged In Log In   Sign Up   Points Leaders
Follow Us    11:24 PM

GasBuddy News Article

58
votes
New Cars Increasingly Out of Reach for Many Americans

NBC News -- Looking to buy a new car, truck or crossover? You may find it more difficult to stretch the household budget than you expected, according to a new study that finds median-income families in only one major U.S. city actually can afford the typical new vehicle.

The typical new vehicle is now more expensive than ever, averaging $30,500 in 2012, according to TrueCar.com data, and heading up again as makers curb the incentives that helped make their products more affordable during the recession when they were desperate for sales.

According to the 2013 Car Affordability Study by Interest.com, only in Washington could the typical household swing the payments, the median income there running $86,680 a year. At the other extreme, Tampa, Fla., was at the bottom of the 25 large cities included


Read the Full Article

Submitted Feb 27, 2013 By: WxVette
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: New Cars Increasingly Out of Reach for Many Americans Back to Topics
REPLIES (newest first) Post a Reply
Profile Pic
MadFueler
Champion Author Winston-Salem

Posts:2,742
Points:509,160
Joined:Sep 2012
Message Posted: Feb 28, 2013 7:12:06 PM

Those maximum payment figures look awful high to me - maybe they assume a paid-off house and zero credit card debt.
Profile Pic
Sneakers55
Champion Author Houston

Posts:58,746
Points:2,433,720
Joined:Nov 2005
Message Posted: Feb 28, 2013 9:06:49 AM

On Feb 28, 2013 7:34:55 AM, TruthMatters wrote:

>What's wrong with pre-owned cars?

They're too politically correct... got to avoid the U-word!
Profile Pic
TruthMatters
Champion Author New Jersey

Posts:3,343
Points:830,490
Joined:Oct 2011
Message Posted: Feb 28, 2013 8:34:55 AM

That's a good thing. Maybe now those who can't afford them won't be tempted to buy them without giving a thought to how to make the payments down the road.

What's wrong with pre-owned cars?

[Edited by: TruthMatters at 2/28/2013 8:35:57 AM EST]
Profile Pic
gmcgas
Champion Author Atlanta

Posts:7,700
Points:2,050,840
Joined:Mar 2004
Message Posted: Feb 28, 2013 4:26:18 AM

well at first i agree, but after thinking a bit to price of the car has went up with the wages earned. its all the extra costs taxes ect that made the diffrence. even gas prices.
Profile Pic
iFueler
Champion Author Durham

Posts:73,178
Points:513,375
Joined:Nov 2012
Message Posted: Feb 28, 2013 2:36:20 AM


the new reality
Profile Pic
ClarkSC
Champion Author South Carolina

Posts:4,690
Points:1,346,455
Joined:May 2010
Message Posted: Feb 28, 2013 2:34:42 AM

No kidding.
Profile Pic
vulcan96
Champion Author Ohio

Posts:27,181
Points:3,133,135
Joined:Aug 2004
Message Posted: Feb 28, 2013 2:29:22 AM

maby the boy should stop taking so many $4,000,000 vacations
Profile Pic
abacus44
Champion Author Toms River

Posts:5,031
Points:1,075,930
Joined:Jan 2011
Message Posted: Feb 28, 2013 2:26:31 AM

The down side of safety and environmental regulations!
Profile Pic
Ron77095
Champion Author Houston

Posts:4,735
Points:939,325
Joined:Sep 2011
Message Posted: Feb 28, 2013 2:18:36 AM

What?
Profile Pic
Lairre
Champion Author Sacramento

Posts:6,117
Points:514,540
Joined:Oct 2012
Message Posted: Feb 28, 2013 2:16:16 AM

Just numbers...
Profile Pic
Happytalk
Champion Author Pennsylvania

Posts:3,817
Points:914,815
Joined:May 2010
Message Posted: Feb 28, 2013 2:15:57 AM

I agree
Profile Pic
divebomber
Champion Author Nebraska

Posts:7,762
Points:2,148,885
Joined:Jun 2007
Message Posted: Feb 28, 2013 2:14:52 AM

YEP!
Profile Pic
streetcars
Champion Author Toledo

Posts:13,957
Points:2,941,525
Joined:Apr 2005
Message Posted: Feb 28, 2013 2:14:46 AM

Never bought a new ride in my life, current ride is 14 years old and hope to get another 10 years out of it.
Profile Pic
Rooster922
Champion Author Wilmington

Posts:3,980
Points:873,320
Joined:Jan 2009
Message Posted: Feb 28, 2013 2:12:56 AM

Really
Profile Pic
MaryKayByBJ
Sophomore Author Orange County

Posts:172
Points:78,340
Joined:Mar 2010
Message Posted: Feb 28, 2013 2:11:11 AM

Instead of getting a car this year, I have put it off for at least three more. Mostly because I don't like car payments and it will take a while for me to save up even for th emodest $17k I plan on paying. It is now $14k and I ma guessing it will be another 3 by the time I can afford it.
However, I am used to driving cars "into the ground." With the exception of a Toyota which died on the fwy after less than 80k, everything else has lasted 300k ++ and all except one was sold to someone (still running condition) else.
Since I get 16/22 to drive a very comfortable vehicle, I can't see spending money on anything that doesn't get at least 30 in the city. (I don't plan on selling my current one; the next car would just be to drive around town.)
Profile Pic
judgemobile
Champion Author Ohio

Posts:9,249
Points:2,781,585
Joined:Nov 2005
Message Posted: Feb 28, 2013 2:09:49 AM

waiting for my stimulus check, NOT JUST TAX REFUND==then will not be out of reach
Profile Pic
KrsnaDragon
Champion Author Montreal

Posts:4,011
Points:864,125
Joined:Nov 2011
Message Posted: Feb 28, 2013 2:07:27 AM

I'm glad I'm not in the market for a new vehicle at this time.
Profile Pic
sprocketsplines
Champion Author Washington

Posts:3,354
Points:1,195,065
Joined:Oct 2010
Message Posted: Feb 28, 2013 2:05:50 AM

Seems silly that automakers would make products priced beyond the ability of most of their customers to afford them. This is likely what led to GM being bailed out.
Profile Pic
granitestater
Champion Author New Hampshire

Posts:10,778
Points:1,757,030
Joined:Oct 2008
Message Posted: Feb 28, 2013 2:05:05 AM

There are still some cars down around 15 thousand dollars. Prices are up because of all the new safety requirements. seat belts, roll bars, safety cages, air bags, etc.
Profile Pic
VikingWoman
Champion Author Washington

Posts:3,093
Points:580,795
Joined:May 2012
Message Posted: Feb 28, 2013 2:01:43 AM

When they write these articles it must be really difficult to remember to differentiate between Washington D.C. and Washington State.

I thought $86,680 was pretty high for Washington State so I found a Washington State website with the information. King County (Seattle area) in Washington has the highest projected annual median income of $68,313.

Obviously this article is using Washington D.C. for the $86+ median income.
Profile Pic
livewire300
Champion Author South Carolina

Posts:4,612
Points:237,760
Joined:Jun 2011
Message Posted: Feb 28, 2013 1:58:34 AM

Ya, price TOO HIGH...
Profile Pic
BEngr
Champion Author Illinois

Posts:8,443
Points:1,913,515
Joined:May 2008
Message Posted: Feb 28, 2013 1:55:30 AM

My 2001 truck has a lot of service life left, so I don't plan on buying a new vehicle this year.
Profile Pic
BobD2009
Champion Author Long Island

Posts:8,674
Points:1,574,485
Joined:Apr 2009
Message Posted: Feb 28, 2013 1:53:51 AM

Welcome to the horrible Obama economy.
Profile Pic
goldrose1
Champion Author Cleveland

Posts:12,595
Points:2,242,460
Joined:Feb 2005
Message Posted: Feb 28, 2013 1:53:24 AM

I see inflation here.
Profile Pic
SteelPenny
Champion Author Dallas

Posts:34,689
Points:2,940,390
Joined:Sep 2005
Message Posted: Feb 28, 2013 1:52:05 AM

No way I can afford a new car. Thanks Zero'BOY.
Profile Pic
suicyco16
All-Star Author Phoenix

Posts:635
Points:566,855
Joined:Jun 2012
Message Posted: Feb 28, 2013 1:51:57 AM

Just another example of inflation.
Profile Pic
alterman156
Champion Author New York

Posts:9,175
Points:1,893,625
Joined:Dec 2008
Message Posted: Feb 28, 2013 1:50:37 AM

One does not need to pay the average price to get a perfectly good new vehicle. Many compact cars are good and they are often affordable.
Profile Pic
billy44bo
Champion Author Mobile

Posts:8,770
Points:1,819,370
Joined:Feb 2008
Message Posted: Feb 28, 2013 1:50:01 AM

thanks barry
Profile Pic
Ticoman54
Champion Author Miami

Posts:8,032
Points:1,744,875
Joined:Oct 2008
Message Posted: Feb 28, 2013 1:46:24 AM

And this is news? If anything, things have been this way for the past 4 years, especially since Nobama took office.
Profile Pic
bikechuck
Champion Author Indianapolis

Posts:8,700
Points:2,399,690
Joined:Apr 2006
Message Posted: Feb 28, 2013 1:41:24 AM

Yes, and how does Obama think our national debt will ever be afforded? All this crap over $85 billion 'cut' when he had a 800 to 1 trillion spent as a 'stimulus', good gosh when are we going to have an afforable budget?
Profile Pic
craigsf38
Champion Author Rochester

Posts:7,393
Points:1,847,705
Joined:Jun 2008
Message Posted: Feb 28, 2013 1:34:39 AM

Soon we will be walking
Profile Pic
MrPony
All-Star Author North Carolina

Posts:658
Points:614,880
Joined:Jul 2004
Message Posted: Feb 28, 2013 1:31:09 AM

And there ain't any used cars 'cause Osama had them all crushed!
Profile Pic
Tigercat88
Champion Author North Carolina

Posts:4,880
Points:953,515
Joined:Jul 2011
Message Posted: Feb 28, 2013 1:30:42 AM

The Food prices are almost out of reach.
Profile Pic
Ray_10589
Champion Author New York

Posts:6,521
Points:1,509,145
Joined:May 2009
Message Posted: Feb 28, 2013 1:29:31 AM

squeeze on the middle calss
Profile Pic
Mowerman08
Champion Author Milwaukee

Posts:6,368
Points:1,544,695
Joined:Aug 2008
Message Posted: Feb 28, 2013 1:29:08 AM

cnbc beating the drum
Profile Pic
grouch311
Champion Author Peoria

Posts:6,541
Points:1,834,615
Joined:Jun 2007
Message Posted: Feb 28, 2013 1:25:32 AM

the heck with incentives, just drop the price to start with.
if they can put an incentive on, they can sell for that much less to start with.
Profile Pic
RENEGADEGAS
Champion Author Missouri

Posts:16,667
Points:1,912,110
Joined:Jul 2008
Message Posted: Feb 28, 2013 1:25:26 AM

Ya Think!! Not only are the car prices going up, Americans just lost a chunk of their paychecks after the first of the year! Many are working lesser paying jobs and 16% of the country is unemployed. Just dont get why new cars are out of reach for most.
Profile Pic
liao
Champion Author Montreal

Posts:5,056
Points:1,746,295
Joined:Sep 2008
Message Posted: Feb 28, 2013 1:24:14 AM

That is inflation for us.
Profile Pic
HelenT
Champion Author Buffalo

Posts:4,619
Points:902,500
Joined:Apr 2004
Message Posted: Feb 28, 2013 1:22:53 AM

That's for sure!
Profile Pic
Jedman982
Sophomore Author Modesto

Posts:122
Points:161,050
Joined:Dec 2006
Message Posted: Feb 28, 2013 1:21:18 AM

Ok
Profile Pic
BCM1
Champion Author Pennsylvania

Posts:1,939
Points:883,170
Joined:Jun 2007
Message Posted: Feb 28, 2013 1:20:31 AM

Service industry jobs typically pay less than $10 per hour. We are becoming more and more a service country. Good jobs are going away. How can you buy a new car at $10 per hour and still afford food and shelter?
Profile Pic
mcbrownie220
Sophomore Author Toledo

Posts:225
Points:184,525
Joined:Jun 2012
Message Posted: Feb 28, 2013 1:20:17 AM

ok
Profile Pic
kcboy
Champion Author Utah

Posts:5,321
Points:1,785,990
Joined:Jun 2005
Message Posted: Feb 28, 2013 1:19:26 AM

What will they do when more people go on s.s.. We will be able to buy a new car.
Profile Pic
madison8359
Champion Author Cleveland

Posts:13,783
Points:1,929,945
Joined:Apr 2008
Message Posted: Feb 28, 2013 1:19:22 AM

Thanks for sharing how poor we are.
Profile Pic
SBlouch
Champion Author San Antonio

Posts:10,217
Points:2,155,890
Joined:Apr 2007
Message Posted: Feb 28, 2013 1:18:10 AM

Of course, cars are becoming more expensive as the price of owning one is also going up each year as well as the car insurance and gas.
Profile Pic
jetskijerry
Champion Author North Carolina

Posts:5,568
Points:1,107,495
Joined:Mar 2011
Message Posted: Feb 28, 2013 1:17:22 AM

I'll have to keep my old van for aT LEAST 5 YEARS
Profile Pic
jetskijerry
Champion Author North Carolina

Posts:5,568
Points:1,107,495
Joined:Mar 2011
Message Posted: Feb 28, 2013 1:16:56 AM

I agree.
Profile Pic
pinofl
Veteran Author Miami

Posts:364
Points:70,120
Joined:Dec 2012
Message Posted: Feb 28, 2013 1:15:44 AM

ok
Profile Pic
probedude2
Champion Author Akron

Posts:14,242
Points:2,716,855
Joined:Jun 2003
Message Posted: Feb 28, 2013 1:15:10 AM

Not everyone SHOULD be able to afford a new car...
Profile Pic
rd2000
Champion Author Florida

Posts:5,218
Points:1,018,540
Joined:Jul 2007
Message Posted: Feb 28, 2013 1:15:04 AM

this is not good
Post a reply Back to Topics