83% OF AMERICANS CANNOT AFFORD A NEW CAR.

[FrancSevin]

FROM A FRIEND ON ANOTHER FORUM;

I have been following a utube show called caredge.com where the focus is on helping the consumer understand and navigate the tricky world of car buying. the Host has 50 plus years in Automotive Sales, evident in the web site which offers tons of real time industry data.

A quote from yesterday’s show caught my eye - “ 83% of Americans cannot afford a new car”. A stunning statement by any means that really amplifies the economic woes now facing this Country, higher jobless numbers, the inflation index that’s only getting worse, and the decision makers who are responsible for the disastrous misdirection to electric vehicles.

Who are our betters that have pushed us into this delima ? Doesn’t matter if it’s Food, Energy, Manufacturing, Distribution, or Immigration

There’s a whole lotta stuff going on, percolating in the background.

The 83% is rising.

 

[Kevlar]

I would have thought it would actually be higher than that, like 90%.

 

[Lenny]

I suppose the left wing puppets are being programmed to believe it's Trump's fault.

 

[Doc]

I suppose the left wing puppets are being programmed to believe it's Trump's fault.

I do believe they were pre programmed years ago. Everything bad is Trump's fault.

 

[pixie]

There is probably a percentage ( maybe 10 ? ) that don't Want a New car because of the likelihood that they will break more than an old one and the "features" that really aren't helpful to driving. Not to mention the poor visibility in most new cars and them not being worth the price even if you can afford one.

 

[Melensdad]

There is probably a percentage ( maybe 10 ? ) that don't Want a New car because of the likelihood that they will break more than an old one and the "features" that really aren't helpful to driving. Not to mention the poor visibility in most new cars and them not being worth the price even if you can afford one.

I tend to agree, but that is a choice.

We have an economy that is teetering, failing in many ways. We have inflation that is literally taking THOUSANDS of DOLLARS out of families disposable income and now paying for NECESSITIES like food, which is up 18% in 3 years. Housing costs, either rent or mortgage are also up, so much that home sizes are SHRINKING for the first time in modern times.

But back to the point, there is a high level of BUILT IN price increases due to 2 factors. REGULATION and CONSUMER DEMAND, both seem to be driving prices up. How much do AIR BAGS and ANTI LOCK BRAKES cost? Consumers demanded those and Congress now mandates them. Safety has, over the past 25 years, become a consumer demand and people buying new vehicles demand safety. So we have a lot of advances baked into the cars and the manufacturers seem to embrace regulations to make them mandatory.

Will the new vehicles break? Heck yes. But people can't afford them because of high prices, job insecurity, housing costs, etc.

 

[FrancSevin]

There is probably a percentage ( maybe 10 ? ) that don't Want a New car because of the likelihood that they will break more than an old one and the "features" that really aren't helpful to driving. Not to mention the poor visibility in most new cars and them not being worth the price even if you can afford one.

Whilst that may be true, it really has nothing to do with affordability.

 

[Lenny]

I do believe they were pre programmed years ago. Everything bad is Trump's fault.

And of course, Trump gets no credit for the good things he did.

 

[XeVfTEUtaAqJHTqq]

Car insurance has also gone through the roof. At least for someone with a 19 and 21 year old driver on their policy.
I have to buy a new(ish) car for one of them and I'm not looking forward to the insurance costs.

 

[bczoom]

Car insurance has also gone through the roof.

Oh yea, unfortunately. I've find that where you live makes a difference.
I can insure a new $35,000 vehicle in PA for around $800. In Florida, it's around $2,000

 

[tommu56]

Oh yea, unfortunately. I've find that where you live makes a difference.
I can insure a new $35,000 vehicle in PA for around $800. In Florida, it's around $2,000

Anyone need a Pa address I'll get you a po box in my town

 

[m1west]

Everything is going to go higher not lower. Right now we are seeing the inflation caused by the covid spending. That was 3-4 years ago when everyone was happy getting $600.00 checks. 3 years from now a meal at McDonalds for one will be $50.00 if they are still in business. Cars will decrease a little in price until they can't cut the price because of manufacturing costs, then when they still don't sell because people can't afford them, the company's will go out of business. ( deflation). Then when it has effected all businesses, there will be shortages and prices will hyper inflate. Then its over.