Not Logged In Log In   Sign Up   Points Leaders
Follow Us    7:36 AM

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
MadFueler
Champion Author Winston-Salem

Posts:4,705
Points:1,012,945
Joined:Sep 2012
Message Posted: Feb 28, 2013 6:12:06 PM

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

Posts:64,647
Points:2,844,400
Joined:Nov 2005
Message Posted: Feb 28, 2013 8:06:49 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!
TruthMatters
Champion Author New Jersey

Posts:3,681
Points:1,231,960
Joined:Oct 2011
Message Posted: Feb 28, 2013 7:34:55 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]
gmcgas
Champion Author Atlanta

Posts:9,416
Points:2,545,645
Joined:Mar 2004
Message Posted: Feb 28, 2013 3:26:18 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.
iFueler
Champion Author Durham

Posts:76,710
Points:1,014,100
Joined:Nov 2012
Message Posted: Feb 28, 2013 1:36:20 AM


the new reality
ClarkSC
Champion Author South Carolina

Posts:6,079
Points:1,830,240
Joined:May 2010
Message Posted: Feb 28, 2013 1:34:42 AM

No kidding.
vulcan96
Champion Author Ohio

Posts:27,181
Points:3,133,135
Joined:Aug 2004
Message Posted: Feb 28, 2013 1:29:22 AM

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

Posts:6,671
Points:1,570,330
Joined:Jan 2011
Message Posted: Feb 28, 2013 1:26:31 AM

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

Posts:6,451
Points:1,444,175
Joined:Sep 2011
Message Posted: Feb 28, 2013 1:18:36 AM

What?
Lairre
Champion Author Sacramento

Posts:8,511
Points:987,180
Joined:Oct 2012
Message Posted: Feb 28, 2013 1:16:16 AM

Just numbers...
Happytalk
Champion Author Pennsylvania

Posts:5,508
Points:1,413,925
Joined:May 2010
Message Posted: Feb 28, 2013 1:15:57 AM

I agree
divebomber
Champion Author Nebraska

Posts:9,484
Points:2,623,995
Joined:Jun 2007
Message Posted: Feb 28, 2013 1:14:52 AM

YEP!
streetcars
Champion Author Toledo

Posts:15,664
Points:3,412,500
Joined:Apr 2005
Message Posted: Feb 28, 2013 1:14:46 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.
Rooster922
Champion Author Wilmington

Posts:4,255
Points:1,203,605
Joined:Jan 2009
Message Posted: Feb 28, 2013 1:12:56 AM

Really
MaryKayByBJ
Sophomore Author Orange County

Posts:172
Points:174,740
Joined:Mar 2010
Message Posted: Feb 28, 2013 1:11:11 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.)
judgemobile
Champion Author Ohio

Posts:10,964
Points:3,269,375
Joined:Nov 2005
Message Posted: Feb 28, 2013 1:09:49 AM

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

Posts:6,177
Points:1,341,250
Joined:Nov 2011
Message Posted: Feb 28, 2013 1:07:27 AM

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

Posts:5,004
Points:1,653,300
Joined:Oct 2010
Message Posted: Feb 28, 2013 1:05:50 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.
granitestater
Champion Author New Hampshire

Posts:13,026
Points:2,232,180
Joined:Oct 2008
Message Posted: Feb 28, 2013 1:05:05 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.
VikingWoman
Champion Author Washington

Posts:4,701
Points:1,053,330
Joined:May 2012
Message Posted: Feb 28, 2013 1:01:43 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.
livewire300
Champion Author South Carolina

Posts:4,617
Points:250,185
Joined:Jun 2011
Message Posted: Feb 28, 2013 12:58:34 AM

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

Posts:10,163
Points:2,384,640
Joined:May 2008
Message Posted: Feb 28, 2013 12:55:30 AM

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

Posts:10,337
Points:2,038,490
Joined:Apr 2009
Message Posted: Feb 28, 2013 12:53:51 AM

Welcome to the horrible Obama economy.
goldrose1
Champion Author Cleveland

Posts:14,320
Points:2,711,010
Joined:Feb 2005
Message Posted: Feb 28, 2013 12:53:24 AM

I see inflation here.
SteelPenny
Champion Author Dallas

Posts:38,761
Points:3,418,240
Joined:Sep 2005
Message Posted: Feb 28, 2013 12:52:05 AM

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

Posts:635
Points:950,755
Joined:Jun 2012
Message Posted: Feb 28, 2013 12:51:57 AM

Just another example of inflation.
alterman156
Champion Author New York

Posts:10,910
Points:2,369,600
Joined:Dec 2008
Message Posted: Feb 28, 2013 12:50:37 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.
billy44bo
Champion Author Mobile

Posts:10,364
Points:2,289,960
Joined:Feb 2008
Message Posted: Feb 28, 2013 12:50:01 AM

thanks barry
Ticoman54
Champion Author Miami

Posts:8,103
Points:1,791,075
Joined:Oct 2008
Message Posted: Feb 28, 2013 12:46:24 AM

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

Posts:10,433
Points:2,877,375
Joined:Apr 2006
Message Posted: Feb 28, 2013 12:41:24 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?
craigsf38
Champion Author Rochester

Posts:9,093
Points:2,334,280
Joined:Jun 2008
Message Posted: Feb 28, 2013 12:34:39 AM

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

Posts:812
Points:1,045,685
Joined:Jul 2004
Message Posted: Feb 28, 2013 12:31:09 AM

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

Posts:6,590
Points:1,431,365
Joined:Jul 2011
Message Posted: Feb 28, 2013 12:30:42 AM

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

Posts:8,144
Points:1,974,345
Joined:May 2009
Message Posted: Feb 28, 2013 12:29:31 AM

squeeze on the middle calss
Mowerman08
Champion Author Milwaukee

Posts:7,726
Points:1,987,690
Joined:Aug 2008
Message Posted: Feb 28, 2013 12:29:08 AM

cnbc beating the drum
grouch311
Champion Author Peoria

Posts:6,803
Points:2,217,455
Joined:Jun 2007
Message Posted: Feb 28, 2013 12:25:32 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.
RENEGADEGAS
Champion Author Missouri

Posts:18,361
Points:2,373,885
Joined:Jul 2008
Message Posted: Feb 28, 2013 12:25:26 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.
liao
Champion Author Montreal

Posts:6,783
Points:2,231,135
Joined:Sep 2008
Message Posted: Feb 28, 2013 12:24:14 AM

That is inflation for us.
HelenT
Champion Author Buffalo

Posts:6,317
Points:1,291,035
Joined:Apr 2004
Message Posted: Feb 28, 2013 12:22:53 AM

That's for sure!
Jedman982
Sophomore Author Modesto

Posts:122
Points:161,050
Joined:Dec 2006
Message Posted: Feb 28, 2013 12:21:18 AM

Ok
BCM1
Champion Author Pennsylvania

Posts:1,944
Points:1,228,895
Joined:Jun 2007
Message Posted: Feb 28, 2013 12:20:31 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?
mcbrownie220
Sophomore Author Toledo

Posts:225
Points:184,525
Joined:Jun 2012
Message Posted: Feb 28, 2013 12:20:17 AM

ok
kcboy
Champion Author Utah

Posts:6,297
Points:2,072,005
Joined:Jun 2005
Message Posted: Feb 28, 2013 12:19:26 AM

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

Posts:18,107
Points:2,430,105
Joined:Apr 2008
Message Posted: Feb 28, 2013 12:19:22 AM

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

Posts:11,929
Points:2,616,855
Joined:Apr 2007
Message Posted: Feb 28, 2013 12:18:10 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.
jetskijerry
Champion Author North Carolina

Posts:7,184
Points:1,568,535
Joined:Mar 2011
Message Posted: Feb 28, 2013 12:17:22 AM

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

Posts:7,184
Points:1,568,535
Joined:Mar 2011
Message Posted: Feb 28, 2013 12:16:56 AM

I agree.
pinofl
Veteran Author Miami

Posts:364
Points:70,145
Joined:Dec 2012
Message Posted: Feb 28, 2013 12:15:44 AM

ok
probedude2
Champion Author Akron

Posts:15,952
Points:3,211,680
Joined:Jun 2003
Message Posted: Feb 28, 2013 12:15:10 AM

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

Posts:6,905
Points:1,512,795
Joined:Jul 2007
Message Posted: Feb 28, 2013 12:15:04 AM

this is not good
moregas1966
Champion Author Columbus

Posts:2,057
Points:426,870
Joined:Dec 2012
Message Posted: Feb 28, 2013 12:10:41 AM

ok
Post a reply Back to Topics