Cars Are Cheap

Kicking Tires reports: Car Prices Fall as Incomes Rise. So what are you dunderheads doing? Go buy cars! Oh, costs for everything else are higher? Interest rates are moving back up? College costs? Medical costs? Just borrow the money already! Come on!

The index determines how many weeks of income it takes to own a new car. That figure is now at 23.6 weeks of income for the median family which makes $58,000 a year.

We'd like to know how many families in the U.S. earn less than $58k. We bet it's a lot. And when they go looking for cars, what's in their price range. Hyundai? Kia? Toyota?

Anyway, we think cars are still pretty spendy. Then again, we bought our shoes from hobo.

Comments

[K]

Cars seem more affordable than ever. At $58K median the 23 odd weeks buy a $25K car.

You can get very agreeable cars for considerably under $25K. And quite nice ones for under $20K. They seem less desirable because we can see more costly models and forget what cars we used to buy.

Reliability, durability, and warranties have improved greatly. You won't need a new one in five years or be in the repair shop often. Safety is much better and more features are standard every year.

How many families have less than the median income? Half is my guess.