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Income needed to buy average new car is $175,000; average used is $120k
| Pope Leo XXX | 06/13/26 |
| crime lord | 06/13/26 |
| Pope Leo XXX | 06/13/26 |
| crime lord | 06/13/26 |
| Cletus Van Damme | 06/13/26 |
| icanseemyneurons | 06/13/26 |
| dupa | 06/13/26 |
| Pope Leo XXX | 06/13/26 |
| Buy your next house instantly with Zellow! | 06/13/26 |
| hank_scorpio | 06/14/26 |
Poast new message in this thread
Date: June 13th, 2026 9:09 PM Author: Pope Leo XXX https://www.cnbc.com/2026/06/08/why-the-20-4-10-car-buying-rule-no-longer-works-for-many-buyers.html
With the 20-4-10 rule, transportation costs should account for no more than 10% of gross income. Based on that, a household spending $996 per month on transportation would need annual income of roughly $120,000 to satisfy the guideline.
The hurdle is even higher for new-car buyers.
Using an average new vehicle price of $50,400, a 20% down payment and a 48-month loan at 7.98% APR (loans on new cars tend to come with higher interest rates), those same monthly transportation costs could approach $1,500. Under the 20-4-10 rule, that would require annual income of roughly $175,000. |
Date: June 13th, 2026 9:14 PM Author: crime lord msrp of a kia carnival is just $38k (http://www.autoadmit.com/thread.php?thread_id=5873977&forum_id=2/#49936830) |
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Date: June 13th, 2026 9:16 PM Author: Pope Leo XXX but then you have a kia carnival (http://www.autoadmit.com/thread.php?thread_id=5873977&forum_id=2/#49936834) |
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Date: June 13th, 2026 9:18 PM Author: crime lord it's a fine family car (http://www.autoadmit.com/thread.php?thread_id=5873977&forum_id=2/#49936844) |
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Date: June 13th, 2026 9:17 PM Author: Cletus Van Damme proles are gonna flat out riot when they truly cant afford to drive around in circles all day getting raising canes (http://www.autoadmit.com/thread.php?thread_id=5873977&forum_id=2/#49936839) |
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Date: June 13th, 2026 9:18 PM Author: icanseemyneurons (http://www.autoadmit.com/thread.php?thread_id=5873977&forum_id=2/#49936843) |
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Date: June 13th, 2026 9:26 PM Author: dupa Luckily there are now 7 year auto loans. (http://www.autoadmit.com/thread.php?thread_id=5873977&forum_id=2/#49936857) |
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Date: June 13th, 2026 10:47 PM Author: Pope Leo XXX 8 years, actually
https://www.capitalone.com/cars/learn/getting-a-good-deal/longterm-loans-what-to-know-about-a-96month-car-loan/1594 |
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Date: June 13th, 2026 11:41 PM Author: Buy your next house instantly with Zellow! And that's just for one car. A typical family has two or three. (http://www.autoadmit.com/thread.php?thread_id=5873977&forum_id=2/#49937098) |
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Date: June 14th, 2026 12:14 AM Author: hank_scorpio to this day I don't understand retards who buy new cars if they aren't rich, like I would 100% blow money on a lambo and a rolls if I just didn't give a fuck, but unless I am retired dropping 80k on an audi or god forbid 50k on a ford is just unacceptable (http://www.autoadmit.com/thread.php?thread_id=5873977&forum_id=2/#49937149) |