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With just 8% of new vehicles costing under $30,000, ‘it’s the least affordable car market in modern history,’ expert says
The question is how long before cars are the same price as a house right now? Just 10 years ago you could get a car for around $22,000 now that same car is $45,000 and the materials are less expensive then they where then. Don’t get me wrong I understand price increases, been a thing for years. What I don’t understand is why someone would pay up to $75,000 for a truck that cost 35,000 just a 5 years ago when the quality has gone downhill. Why would anyone want a $1300 to $1500 car payment a month for a car that might last 5 years before breaking down somehow. And don’t tell me “it’s the cost of materials and labor.” This is nothing but pure greed. The labor force is making the same amount of money they were 5 years ago, materials may have gone up by 3%-4% over the same period. The only people coming out ahead are the CEO’s and banks.