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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

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Submitted Feb 27, 2013 By: WxVette

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MadFueler Champion Author Winston-Salem Posts:1,084 Points:200,210 Joined:Sep 2012	Message Posted: Feb 28, 2013 6:12:06 PM Ignore MadFueler Report Abuse 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:51,861 Points:2,169,600 Joined:Nov 2005	Message Posted: Feb 28, 2013 8:06:49 AM Ignore Sneakers55 Report Abuse 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:2,586 Points:558,555 Joined:Oct 2011	Message Posted: Feb 28, 2013 7:34:55 AM Ignore TruthMatters Report Abuse 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:6,094 Points:1,741,870 Joined:Mar 2004	Message Posted: Feb 28, 2013 3:26:18 AM Ignore gmcgas Report Abuse 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:65,033 Points:206,750 Joined:Nov 2012	Message Posted: Feb 28, 2013 1:36:20 AM Ignore iFueler Report Abuse the new reality
ClarkSC Champion Author South Carolina Posts:3,219 Points:1,039,105 Joined:May 2010	Message Posted: Feb 28, 2013 1:34:42 AM Ignore ClarkSC Report Abuse No kidding.
vulcan96 Champion Author Ohio Posts:27,147 Points:3,127,845 Joined:Aug 2004	Message Posted: Feb 28, 2013 1:29:22 AM Ignore vulcan96 Report Abuse maby the boy should stop taking so many $4,000,000 vacations
abacus44 Champion Author Toms River Posts:3,605 Points:774,765 Joined:Jan 2011	Message Posted: Feb 28, 2013 1:26:31 AM Ignore abacus44 Report Abuse The down side of safety and environmental regulations!
Ron77095 Champion Author Houston Posts:3,205 Points:631,350 Joined:Sep 2011	Message Posted: Feb 28, 2013 1:18:36 AM Ignore Ron77095 Report Abuse What?
Lairre Champion Author Sacramento Posts:3,241 Points:213,885 Joined:Oct 2012	Message Posted: Feb 28, 2013 1:16:16 AM Ignore Lairre Report Abuse Just numbers...
Happytalk Champion Author Pennsylvania Posts:2,276 Points:605,565 Joined:May 2010	Message Posted: Feb 28, 2013 1:15:57 AM Ignore Happytalk Report Abuse I agree
divebomber Champion Author Nebraska Posts:6,218 Points:1,839,975 Joined:Jun 2007	Message Posted: Feb 28, 2013 1:14:52 AM Ignore divebomber Report Abuse YEP!
streetcars Champion Author Toledo Posts:12,409 Points:2,635,315 Joined:Apr 2005	Message Posted: Feb 28, 2013 1:14:46 AM Ignore streetcars Report Abuse 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:3,930 Points:683,770 Joined:Jan 2009	Message Posted: Feb 28, 2013 1:12:56 AM Ignore Rooster922 Report Abuse Really
MaryKayByBJ Sophomore Author Orange County Posts:167 Points:63,165 Joined:Mar 2010	Message Posted: Feb 28, 2013 1:11:11 AM Ignore MaryKayByBJ Report Abuse 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:7,705 Points:2,472,635 Joined:Nov 2005	Message Posted: Feb 28, 2013 1:09:49 AM Ignore judgemobile Report Abuse waiting for my stimulus check, NOT JUST TAX REFUND==then will not be out of reach
KrsnaDragon Champion Author Montreal Posts:2,551 Points:559,205 Joined:Nov 2011	Message Posted: Feb 28, 2013 1:07:27 AM Ignore KrsnaDragon Report Abuse I'm glad I'm not in the market for a new vehicle at this time.
sprocketsplines Champion Author Washington Posts:1,818 Points:889,035 Joined:Oct 2010	Message Posted: Feb 28, 2013 1:05:50 AM Ignore sprocketsplines Report Abuse 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:8,987 Points:1,459,425 Joined:Oct 2008	Message Posted: Feb 28, 2013 1:05:05 AM Ignore granitestater Report Abuse 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:1,451 Points:279,530 Joined:May 2012	Message Posted: Feb 28, 2013 1:01:43 AM Ignore VikingWoman Report Abuse 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:3,515 Points:173,185 Joined:Jun 2011	Message Posted: Feb 28, 2013 12:58:34 AM Ignore livewire300 Report Abuse Ya, price TOO HIGH...
BEngr Champion Author Illinois Posts:6,851 Points:1,607,715 Joined:May 2008	Message Posted: Feb 28, 2013 12:55:30 AM Ignore BEngr Report Abuse 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:7,134 Points:1,268,460 Joined:Apr 2009	Message Posted: Feb 28, 2013 12:53:51 AM Ignore BobD2009 Report Abuse Welcome to the horrible Obama economy.
goldrose1 Champion Author Cleveland Posts:11,076 Points:1,950,580 Joined:Feb 2005	Message Posted: Feb 28, 2013 12:53:24 AM Ignore goldrose1 Report Abuse I see inflation here.
SteelPenny Champion Author Dallas Posts:31,303 Points:2,634,665 Joined:Sep 2005	Message Posted: Feb 28, 2013 12:52:05 AM Ignore SteelPenny Report Abuse No way I can afford a new car. Thanks Zero'BOY.
suicyco16 All-Star Author Phoenix Posts:599 Points:311,585 Joined:Jun 2012	Message Posted: Feb 28, 2013 12:51:57 AM Ignore suicyco16 Report Abuse Just another example of inflation.
alterman156 Champion Author New York Posts:7,630 Points:1,585,225 Joined:Dec 2008	Message Posted: Feb 28, 2013 12:50:37 AM Ignore alterman156 Report Abuse 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:7,338 Points:1,517,465 Joined:Feb 2008	Message Posted: Feb 28, 2013 12:50:01 AM Ignore billy44bo Report Abuse thanks barry
Ticoman54 Champion Author Miami Posts:7,156 Points:1,517,620 Joined:Oct 2008	Message Posted: Feb 28, 2013 12:46:24 AM Ignore Ticoman54 Report Abuse 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:7,153 Points:2,090,820 Joined:Apr 2006	Message Posted: Feb 28, 2013 12:41:24 AM Ignore bikechuck Report Abuse 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:5,858 Points:1,538,930 Joined:Jun 2008	Message Posted: Feb 28, 2013 12:34:39 AM Ignore craigsf38 Report Abuse Soon we will be walking
MrPony Veteran Author North Carolina Posts:439 Points:414,420 Joined:Jul 2004	Message Posted: Feb 28, 2013 12:31:09 AM Ignore MrPony Report Abuse And there ain't any used cars 'cause Osama had them all crushed!
Tigercat88 Champion Author North Carolina Posts:3,342 Points:645,540 Joined:Jul 2011	Message Posted: Feb 28, 2013 12:30:42 AM Ignore Tigercat88 Report Abuse The Food prices are almost out of reach.
Ray_10589 Champion Author New York Posts:5,086 Points:1,211,435 Joined:May 2009	Message Posted: Feb 28, 2013 12:29:31 AM Ignore Ray_10589 Report Abuse squeeze on the middle calss
Mowerman08 Champion Author Milwaukee Posts:4,883 Points:1,244,230 Joined:Aug 2008	Message Posted: Feb 28, 2013 12:29:08 AM Ignore Mowerman08 Report Abuse cnbc beating the drum
grouch311 Champion Author Peoria Posts:6,387 Points:1,598,010 Joined:Jun 2007	Message Posted: Feb 28, 2013 12:25:32 AM Ignore grouch311 Report Abuse 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:15,074 Points:1,619,800 Joined:Jul 2008	Message Posted: Feb 28, 2013 12:25:26 AM Ignore RENEGADEGAS Report Abuse 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:3,584 Points:1,454,960 Joined:Sep 2008	Message Posted: Feb 28, 2013 12:24:14 AM Ignore liao Report Abuse That is inflation for us.
HelenT Champion Author Buffalo Posts:3,094 Points:624,350 Joined:Apr 2004	Message Posted: Feb 28, 2013 12:22:53 AM Ignore HelenT Report Abuse 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 Ignore Jedman982 Report Abuse Ok
BCM1 Champion Author Pennsylvania Posts:1,879 Points:786,420 Joined:Jun 2007	Message Posted: Feb 28, 2013 12:20:31 AM Ignore BCM1 Report Abuse 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:174,625 Joined:Jun 2012	Message Posted: Feb 28, 2013 12:20:17 AM Ignore mcbrownie220 Report Abuse ok
kcboy Champion Author Utah Posts:4,094 Points:1,534,145 Joined:Jun 2005	Message Posted: Feb 28, 2013 12:19:26 AM Ignore kcboy Report Abuse 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:9,331 Points:1,620,995 Joined:Apr 2008	Message Posted: Feb 28, 2013 12:19:22 AM Ignore madison8359 Report Abuse Thanks for sharing how poor we are.
SBlouch Champion Author San Antonio Posts:8,836 Points:1,885,285 Joined:Apr 2007	Message Posted: Feb 28, 2013 12:18:10 AM Ignore SBlouch Report Abuse 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:4,041 Points:800,945 Joined:Mar 2011	Message Posted: Feb 28, 2013 12:17:22 AM Ignore jetskijerry Report Abuse I'll have to keep my old van for aT LEAST 5 YEARS
jetskijerry Champion Author North Carolina Posts:4,041 Points:800,945 Joined:Mar 2011	Message Posted: Feb 28, 2013 12:16:56 AM Ignore jetskijerry Report Abuse I agree.
pinofl Veteran Author Miami Posts:364 Points:70,120 Joined:Dec 2012	Message Posted: Feb 28, 2013 12:15:44 AM Ignore pinofl Report Abuse ok
probedude2 Champion Author Akron Posts:12,698 Points:2,408,880 Joined:Jun 2003	Message Posted: Feb 28, 2013 12:15:10 AM Ignore probedude2 Report Abuse Not everyone SHOULD be able to afford a new car...
rd2000 Champion Author Florida Posts:3,712 Points:714,695 Joined:Jul 2007	Message Posted: Feb 28, 2013 12:15:04 AM Ignore rd2000 Report Abuse this is not good