News@lemmy.world

news@lemmy.world

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Modlog

Lee DunatoNews@lemmy.worldEnglish·9 months ago

Americans can no longer afford their cars

(www.newsweek.com)

378

Americans can no longer afford their cars

(www.newsweek.com)

Lee DunatoNews@lemmy.worldEnglish·9 months ago

Just 10% of new car listings are currently priced below the $30,000 mark, after years of price increases have made vehicles unaffordable to millions.

ryathal
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9 months ago
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People have been rolling negative equity into new car payments, and claiming to be smart because rates were so low… rates aren’t low anymore and that risk is being realized.

Financing a car is a poverty trap.