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Question: How can the average American family afford anything close to $47,000? To make matters worse, many low income families are left driving vintage vehicles built 10-20 years ago when fuel was cheaper and mpg a lot less.
Times have changed for sure. Many people finance their cars over 3 to 5 years that add to the total cost of ownership. In the meantime, the car is deprecated its value. Spending in careless way is one of the reason these people will not save enough to retire.
BTW, my wife drives a 10 years old Honda minivan while I drive a 20 years old Prius. With gas over $4 a gallon, we reduce our driving to half and limit our vacation to local areas. Our neighbor recently got an electric Hummer, most likely well over $50K.
Times have changed for sure. Many people finance their cars over 3 to 5 years that add to the total cost of ownership. In the meantime, the car is deprecated its value. Spending in careless way is one of the reason these people will not save enough to retire.
BTW, my wife drives a 10 years old Honda minivan while I drive a 20 years old Prius. With gas over $4 a gallon, we reduce our driving to half and limit our vacation to local areas. Our neighbor recently got an electric Hummer, most likely well over $50K.
The Prius is a fun little car to drive. MPG is a crazy 55+ mpg or something like that. Rented one recently. Only thing couldn’t get used to was the dash mounted shift lever. Up was backwards and down forward, Kept getting it wrong. Seems to me that’s opposite of what it should be.
Hi @Sven et al.............Take a peek with the below link. If you know of someone with a big ego and money to burn, I snooped around Michigan auto sales and found THIS lovely.........scroll down the page a bit to discover the MPG data. Michigan insurance is very high....trying to imagine that cost and the monthly payment, AND what one would be able to sell the vehicle after two years. DAMN! Remain curious, Catch
Comments
BTW, my wife drives a 10 years old Honda minivan while I drive a 20 years old Prius. With gas over $4 a gallon, we reduce our driving to half and limit our vacation to local areas. Our neighbor recently got an electric Hummer, most likely well over $50K.
Remain curious,
Catch