Take heed before heading to the dealership. New research suggests many households cannot afford a new car.
On average, a new set of wheels costs around $32,000, according to Interest.com's 2014 Car Affordability Study, a price tag that is unaffordable for median households in 24 of the largest 25 metropolitan areas.
The one city where a new car or light truck will fit into the family budget is Washington, D.C. The average household around the nation's capital can swing a monthly auto payment up to $641, according to CNBC.
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3 comments:
No wonder they can afford it in DC, that's where all the crooks are or end up being.
Geez, Most Peoppe Can't Afford to Buy New or Used Vehicle Nowadays. But if you live in D.C. and happened to be on Big Brother's Payroll - Hey Lucky You, Taxpayers Got It Covered. Hey, need bigger rims, let's raise some taxes.
Hell I can't afford the gas.
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