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Even households earning $150,000 a year are struggling with credit card and car payments
(www.cbsnews.com)
this post was submitted on 30 Jul 2025
269 points (94.7% liked)
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If a median new car is 50k and used car is 30k that's a out 1k or 600 per month note alone.
Insurance is 100-200 per month plus gas and maintenance prolly another 200-300 per month so for a single adult to "drive with dignity" it costs 1k to start
Now double it for a couple and household is 2k on vehicles alone.
Makes me wonder if high school kids still get cars like people did pre covid lol
This cost structure doesn't make sense. When suburban family has to run a fleet of 3-4 cars
I can currently find a bunch of used, decent Toyota corollas in the 7-10k price range. Liability insurance should be like $50/month.
Your estimates seem quite high to me.
I have no.accidents and I pay triple that for legal minimum liability
That's wild. I pay less than $500 a year for like $100k in liability insurance. Maybe I'm just old and have a good record.
Do you have tickets?
One, red light camera. Must be my zip code