Average cost of a new car

Originally posted by FMF
The cost of living and the "median income" has been the highest in the capital city of every single country I have ever lived in, worked in, visited, or - for that matter - read about. Every single one. It makes your 'blood boil" that the same is true for the U.S.?

It makes my blood boil because everyone suffers in government burdened economies like this one except those that cause economic stagnation and decline.

Originally posted by whodey
It makes my blood boil because everyone suffers in government burdened economies like this one except those that cause economic stagnation and decline.

What do you mean precisely by your statement that "everyone suffers in government burdened economies"? Who suffers? What is a "government burdened economy" and how is this related to human suffering? Do you feel you are suffering? Have you thought about seeking help for your emotional problems?

Originally posted by FMF
I had always assumed that the U.S. was similar to the U.K. where less well off people buy second hand cars or own old cars (i.e. keep their cars roadwortht for years and years and rarely buy "new" ones). That's the way it has been in the U.K. since as long as I can remember. Was there a time when poor people in the U.S. generally bought new cars?

Define less well off? You mean the poor who work for minimum wage? Sure they buy used cars. In the US we have traditionally had enough income that average Americans can easily afford to buy new cars.

Originally posted by whodey
http://www.interest.com/auto/news/car/prices-outpace-median-income/

A new study shows that the average cost of a new car now is $30,000 or more. It also studied the median income of families in the top 25 cities in the US to see who could afford a new car these days. The result was that only the average family in Washington DC can now afford a new car.
...[text shortened]... t our tax dollars are going to good use as the rest of the country falls into economic oblivion.

The link is dead.

But I'm curious whether the article mentions the median cost of a new car, as opposed to the average (i.e. mean) cost.

Originally posted by FMF
I had always assumed that the U.S. was similar to the U.K. where less well off people buy second hand cars or own old cars (i.e. keep their cars roadwortht for years and years and rarely buy "new" ones). That's the way it has been in the U.K. since as long as I can remember. Was there a time when poor people in the U.S. generally bought new cars?

Enter the Obamination cash for clunkers program. Took a lot of good used cars off the market and only helped those that can afford new. This drove up the price of used cars as well as made a mess for parts dealers. Obama screws up everything he touches for the most part.

Originally posted by FMF
I had always assumed that the U.S. was similar to the U.K. where less well off people buy second hand cars or own old cars (i.e. keep their cars roadwortht for years and years and rarely buy "new" ones). That's the way it has been in the U.K. since as long as I can remember. Was there a time when poor people in the U.S. generally bought new cars?

I think you are correct. I know that the one time I could afford a new car, and had chosen one to shop for, I ended up buying a year old car of the same make with many more features than what I went to look at.

Many consider a new car a waste of money due the fast depreciation in the first three years. Still, I can remember when there were new cars for sale for under $1000, and a nice Chevy was under $1500.

There was a time when many lower middle class people owned new cars. Today, these same people are leasing the new cars they drive, and later many times regretting it.

It's coincidence that I'm buying a used car today and reading this thread. It's a 1999 Buick Park Avenue with about 80,000 miles on it, in excellent condition, looks new, fully loaded with leather, heated seats, moon roof etc. I'm still waiting for my mechanic to give it up a thumbs up, but I'm picking it up for $6000. Why oh why would anyone ever buy a new car? I'll never understand it.

Originally posted by Sleepyguy
It's coincidence that I'm buying a used car today and reading this thread. It's a 1999 Buick Park Avenue with about 80,000 miles on it, in excellent condition, looks new, fully loaded with leather, heated seats, moon roof etc. I'm still waiting for my mechanic to give it up a thumbs up, but I'm picking it up for $6000. Why oh why would anyone ever buy a new car? I'll never understand it.

Saving having to pay full coverage insurance more than makes up for repairs.

Originally posted by sh76
That's the average cost, sure, when you factor in the $75k Escalades and Lexuses.

You can still get a perfectly good brand new Focus or Cruze or Corolla or Elantra for well under $20k and you can get an Accord or a Camry or a Fusion for a little more than $20k.

Leasing prices, in my memory, have never been cheaper (adjusted for inflation, of course). I se ...[text shortened]... ew car.

New cars are probably more accessible to more Americans than they've ever been.

I think you are off on the costs of new chevys in 1952.

"New cars are probably more accessible to more Americans than they've ever been."

Given the lease options, and long term loans, perhaps, but that almost mimics the government policy towards real estate in the 20 year run-up to the 2008 mortgage crisis. P & C insurance carriers love it. People have to insure a much higher value than in the past, and it is commonplace for companies to total vehicles with modest cosmetic damage.

I know a person with a $9000 a year income, who has $35k in credit card debt. How does that even happen? Both the government and private finance are so dependent on debt, that it is an addiction, one that will cause a lot of pain when eventually cold turkey is applied.

Originally posted by KazetNagorra
What do you mean precisely by your statement that "everyone suffers in government burdened economies"? Who suffers? What is a "government burdened economy" and how is this related to human suffering? Do you feel you are suffering? Have you thought about seeking help for your emotional problems?

Washington takes more and more of our money and they regulate and burden down the free market while our bank accounts and salary and value of our dollar continually shrinks due to Ben Barnakes printing press.

Someday we may all grab a pitch fork someday and storm the city.

Originally posted by normbenign
I think you are off on the costs of new chevys in 1952.

That info comes straight from John Grisham.

And he's never been wrong.

Originally posted by sh76
That info comes straight from John Grisham.

And he's never been wrong.

Not so far off but Grisham is a little high.

http://auto.howstuffworks.com/chevrolet-bel-air4.htm

In 1948 General Motors brought out a car made specifically for the Australian market. It cost the equivalent of 94 weeks at average wages, and they had a waiting list because they couldn't produce them fast enough to meet demand.
Five years later, the price had come down to 68 weeks' wages, and my parents bought two to run a country town taxi service. Living in a home where there was a new car was a pretty unusual occurrence then.

They're still making that car for the business/family market, it's a lot different of course, but there's lots more stuff in the 2012 model and you'd have to fork out a whole 23 weeks' wages to buy one. Even first-time drivers can afford to buy new cars nowadays, although out here in the country where people are frugal when it comes to consumer debt low-mileage used cars are still big sellers.

It must be a similar situation in the US, surely. Seems to me that nobody really needs a new car unless they've got something to prove.

Originally posted by Sleepyguy
It's coincidence that I'm buying a used car today and reading this thread. It's a 1999 Buick Park Avenue with about 80,000 miles on it, in excellent condition, looks new, fully loaded with leather, heated seats, moon roof etc. I'm still waiting for my mechanic to give it up a thumbs up, but I'm picking it up for $6000. Why oh why would anyone ever buy a new car? I'll never understand it.

Bitchin' ride, bro.

Originally posted by whodey
Washington takes more and more of our money and they regulate and burden down the free market while our bank accounts and salary and value of our dollar continually shrinks due to Ben Barnakes printing press.

Someday we may all grab a pitch fork someday and storm the city.

It's clear that you are angry. Have you considered taking responsibility for your own life rather than blaming the government for everything?