>>513996050
I think a fair portion of Americans, maybe a third up to even a half of the population, won't be able to afford to drive anymore by 2030. New car prices are around $40,000 for a decent car, not a truck or SUV. $30,000 will get you a new crappy car that isn't reliable. Financing a $40,000 vehicle, with good credit, costs some $600 to $700 per month. Add insurance costs, which have been rising fast, and the cost of driving a new car is around $1,000 per month excluding fuel and maintenance, just financing and insurance.
Used cars are similarly expensive, around $500 per month to finance. No car dealer will finance a car, in the ordinary ways, that is more than 12 years old. For any vehicle thirteen years or older, you have to use classic car financing, which typically requires, even with great credit, at least a 50% down payment, and of course an 16 year old car it not a classic (not yet at least).
Even used cars sold for cash have about doubled in price in the past five years. Look at the prices of very reliable, long-lasting older cars like Buicks and panther platform Fords from the 90s and 2000s. They cost double now than what they did five years ago, and they're five years older too and have more miles on them, in general, at this point.
This situation is not sustainable. It's not survivable for the majority.
