Current Events > Former Ford CEO says Americans need to make $100,000/yr to afford new car

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Monolith1676
09/03/23 11:04:28 PM
#1:


https://www.cnbc.com/video/2023/09/01/fmr-ford-ceo-fields-you-have-to-make-over-100-thousand-per-year-to-afford-a-new-car-right-now.html

Man, we are screwed!!!!!!

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Priere
09/03/23 11:05:19 PM
#2:


And TFTs start at 16.67 an hour

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Monolith1676
09/03/23 11:22:45 PM
#3:


Priere posted...
And TFTs start at 16.67 an hour

TFTs?

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Priere
09/03/23 11:23:06 PM
#4:


Monolith1676 posted...
TFTs?
New workers. Temporary full time.

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superbot400
09/03/23 11:24:09 PM
#5:


..****

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FolkenRawr
09/03/23 11:24:23 PM
#6:


Priere posted...
And TFTs start at 16.67 an hour

I'm no mathemagician, but isn't $34,763.60 less than $100k?

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Monolith1676
09/03/23 11:24:55 PM
#7:


Priere posted...
New workers. Temporary full time.

Ah. Hopefully things start going the other way but in all likelihood it will still just keep going up.

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DnDer
09/03/23 11:33:11 PM
#8:


FolkenRawr posted...
I'm no mathemagician, but isn't $34,763.60 less than $100k?

Probably has something to do with a proscribed percentage of income going to car debt, and what a person would have to make where that car payment equals said percentage?

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DementedDurian
09/03/23 11:35:53 PM
#9:


If car makers were allowed to sell directly to customers, it would be a lot less.

Instead, we have goons with wavy balloons demanding fifteen times more than what the car maker needs to make the car to begin with.

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Nota214
09/03/23 11:41:41 PM
#10:


FolkenRawr posted...
I'm no mathemagician, but isn't $34,763.60 less than $100k?
Yes, but with credit it can be like you make $150k.
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FolkenRawr
09/03/23 11:47:24 PM
#11:


Nota214 posted...
Yes, but with credit it can be like you make $150k.

Or conversely you can get a used car as if you make 47cents a year!

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Krojen
09/03/23 11:51:00 PM
#12:


True. Car insurance is higher than the car payments (or even rent) was just a handful of years ago.

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Monolith1676
09/03/23 11:59:17 PM
#13:


DementedDurian posted...
If car makers were allowed to sell directly to customers, it would be a lot less.

Instead, we have goons with wavy balloons demanding fifteen times more than what the car maker needs to make the car to begin with.

Tesla sells directly to customers but it is still insanely expensive.

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Krojen
09/04/23 12:11:31 AM
#14:


Monolith1676 posted...
Tesla sells directly to customers but it is still insanely expensive.
Theyre cheap when considering they dont have the dealer markup.

You can get a Model 3 for 29k with the tax credit. Even without it its cheaper than some base Civics.

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MedeaLysistrata
09/04/23 4:22:37 AM
#15:


wut

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Thermador446
09/04/23 4:47:20 AM
#16:


Americans would buy cheap cars and trucks, if automakers sold them in the USA.
I'd gladly buy whatever manual transmission equivalent of a Chevy Tracker if they sold them here.

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Monolith1676
09/04/23 11:54:01 AM
#17:


Thermador446 posted...
Americans would buy cheap cars and trucks, if automakers sold them in the USA.
I'd gladly buy whatever manual transmission equivalent of a Chevy Tracker if they sold them here.

Sadly, US automakers do not make manual transmission vehicles anymore.

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Slaya4
09/04/23 11:57:48 AM
#18:


Sounds about right. A basic civic is like $30k. Throw in student loans and a mortgage and you living paycheck to paycheck

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Pitlord_Special
09/04/23 12:03:53 PM
#19:


Personal vehicles will one day be a luxury and proles will either use public transit or driverless taxi

The garage will be an outdated fixture and will disappear from modern homes just as the hearth/fireplace has.

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Monolith1676
09/04/23 7:28:10 PM
#20:


Pitlord_Special posted...
Personal vehicles will one day be a luxury and proles will either use public transit or driverless taxi

The garage will be an outdated fixture and will disappear from modern homes just as the hearth/fireplace has.
Sad that is a possibility.

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SaikyoStyle
09/04/23 7:35:05 PM
#21:


Slaya4 posted...
Sounds about right. A basic civic is like $30k. Throw in student loans and a mortgage and you living paycheck to paycheck
Why are those spoiled millennials killing the car industry?

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WilliamPorygon
09/04/23 7:36:04 PM
#22:


Guess Price is Right is gonna have to update all their car games to work with 6-digit prices

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Zeeak4444
09/04/23 8:18:34 PM
#23:


Pitlord_Special posted...
Personal vehicles will one day be a luxury and proles will either use public transit or driverless taxi

The garage will be an outdated fixture and will disappear from modern homes just as the hearth/fireplace has.

hearth/fireplace makes sense though cause we have actual heating now.

since most people probably use the garage for storage instead of cars anyway Im guessing theyll be safe for a long time after cars go

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punkfanalways
09/06/23 8:05:04 PM
#24:


Who the fuck buys brand new cars anyway. They depreciate the second you drive them off the forecourt.
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ReDaZnDraGoN97
09/06/23 8:11:25 PM
#25:


punkfanalways posted...
Who the fuck buys brand new cars anyway. They depreciate the second you drive them off the forecourt.

those who dont want to risk serious problems with cars

people often forget that even if a used car is cheaper. if you dont know mechanics you will risk facing HUGE car repair bills

I have many friends who this happened to. hell it even happened to me with my Chevy SUV

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punkfanalways
09/06/23 8:13:07 PM
#26:


ReDaZnDraGoN97 posted...
those who dont want to risk serious problems with cars

people often forget that even if a used car is cheaper. if you dont know mechanics you will risk facing HUGE car repair bills

I have many friends who this happened to

Im sorry you got bit. But thats why you buy it from a reputable dealer. There is a massive spectrum between Brand new and piece of junk.

Id love to see the stats on % of car sales that are brand new versus second hand over the last few decades.
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JuanCarlos1
09/06/23 8:16:47 PM
#27:


100k seems like the new middle class in most places. Yes Im aware it still makes you home poor with prices in some other places with prices and interests where they're at.

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modena
09/06/23 8:23:19 PM
#28:


Hell a brand new Tundra 4x4 can run well past 60k. People having high rents,childcare/support and shit a month...I get it.

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MrAntisocial
09/06/23 8:41:39 PM
#29:


Zeeak4444 posted...
hearth/fireplace makes sense though cause we have actual heating now.

since most people probably use the garage for storage instead of cars anyway Im guessing theyll be safe for a long time after cars go

Since cars are getting bigger many don't fit in them anymore anyway. Hell. my garage couldn't easily be rebuilt to fit a modern SUV or truck since it would require half my house to be rebuilt

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Kloe_Rinz
09/06/23 8:47:17 PM
#30:


I mean there are more important things to spend money on than a brand new car if you arent rich. You could just buy a cheaper used car instead and even if you replace it more often its still significantly cheaper short term and long term than a brand new car (even low end cheaper models)

if someone does choose to buy a brand new car its not for financial reasons. Which is fine. Not every purchase needs to be the most budget friendly
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Sada_Pop
09/06/23 8:49:34 PM
#31:


Car prices are laughably high right now. Shame.

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darkace77450
09/06/23 8:53:18 PM
#32:


Slaya4 posted...
Sounds about right. A basic civic is like $30k. Throw in student loans and a mortgage and you living paycheck to paycheck

Better hope you don't need to eat or pay for health insurance.
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