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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 |
| .,.,...,..,.,.,:,,:,.,.,:::,...,:,...:..:.,:.::,. | 06/14/26 |
| 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 |
| need tokens | 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 14th, 2026 5:18 AM Author: .,.,...,..,.,.,:,,:,.,.,:::,...,:,...:..:.,:.::,. damn fine (http://www.autoadmit.com/thread.php?thread_id=5873977&forum_id=2.#49937334) |
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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) |
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Date: June 14th, 2026 5:24 AM Author: need tokens I guess this is better than most MSM articles which try to gaslight us into thinking people are doing fine and life is affordable. but why would they use the AVERAGE car price? averages are dragged up by the high end. if they could somehow defend the idea that there aren't enough below-average-cost cars for the people who don't make enough, the point would come across stronger. (http://www.autoadmit.com/thread.php?thread_id=5873977&forum_id=2.#49937336) |