We don't have to tell you that cars are getting more expensive, and it's not just the price of purchase. Insurance rates are going up, maintenance is going up, and, aside from a major spike and decline in 2022, gas prices have generally trended upward over the last decade or so. Even a run-of-the-mill, mid-market SUV or sedan may be more than a lot of Americans can afford on a single income. A study by the team over at Extreme Terrain sees nearly one in six car owners spending at least 20% of their monthly income on their cars.
It's hard times out there, to be sure, but if we can try to find the silver lining on all this: if you need to take a second job just to afford a basic, entry-level car, what's to stop you from taking a second job to buy your dream car? Taking on a whole second career just to buy a Nissan Sentra feels like a lot of extra work for an underwhelming reward. But moonlighting on the weekends for a Ford Mustang GT, or a fully-loaded off-roading Toyota Tacoma, or maybe a classic Charger from the golden age of the muscle car? That might be another story.
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