This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
But you’ll likely keep it
Americans tend to buy more car than they can afford.
The average price for a car continues to escalate; we’re now in the 40–50 thousand dollar range, which is the average salary for many Americans.
But Americans don’t seem to have a problem paying this price. They are even willing to upgrade from the base version.
If your car cost more than 10% of your gross income, you probably can’t afford it. And affording the monthly payment doesn’t mean you can afford something.
The Wretched Truth: You Can’t Afford Your Car
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This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.