Struggles of car ownership when poor : r/povertyfinance - Reddit

Now in my poor parent 40s when I need to fix something random on anyone our family's cars, it's soooo much easier to find auto repair information. I just hop on Google to find the solution like …

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How Do People Afford £30k-£60k Cars With Normal Jobs?

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Sep 26, 2017 · There are some really good lease deals out there, a mate of mine has the golf r dsg which is about £30k+ rrp but he is only paying £250 a month via his bussiness, So driving …

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United States - Who Can Truly Afford Luxury Cars? - Personal Finance ...

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Feb 5, 2015 · And when you keep a car for 10 years, that can mean two cars, one payment-free. Consider that a new Honda Accord or Toyota Camry is $30-40,000 which is 2/3 to 3/4 the …

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Car Affordability Calculator: How Much Can You Afford? - Money …

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Jul 12, 2023 · How much car can I afford with a 70k salary? Based on the 20/4/20 rule, with an average interest rate, you can afford a $19,000-20,000 car on your $70k salary. How can I …

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FAQs about Struggles of car ownership when poor : r/povertyfinance - Reddit Coupon?

Why do people buy cars they don't know they can't afford?

The increase in car repossessions also confirm that people are buying cars they don’t know they can’t afford. I also believe younger generations treat cars like phones now where they have to have the latest and greatest. If only they taught us personal finances in school.. Good on you. ...

How to avoid being 'car poor'?

Want to avoid being “car poor?” These tips can help: Remember that cars are a depreciating asset . According to the experts, a new car will lose at least 20 percent of its value within the first year. The new car smell is not worth it. ...

How do people afford cars?

The same way they can afford anything: by finding it cheaply, saving for it, or adjusting their priorities. Company cars - either paid for by the company, or as part of a bonus/compensation/salary sacrifice scheme. I have friends who drive luxury cars, but they pay £200/month - not much more than, for example, finance on a used Honda ...

Why can't I find a good used car?

Read Freakonomics to gain a better understanding of the reasons why you cannot find a good used car. The summary is the imbalance of knowledge between the buyer and seller, and the lack of trust. Although much of economics assumes perfect market information, margin (profit) comes from uncertainty, or an imbalance of knowledge. ...

Do rich people actually drive fancy cars?

Ah, but here’s a little-known fact: Most rich people don’t actually drive fancy cars. It’s true. When Experian Automotive pondered which cars the wealthy favored, the number-crunchers dug into their massive database of 600 million vehicles and came up with a surprising answer. ...

What cars do rich people buy?

Mercedes, Lexus and BMW are particularly popular brands among the well-to-do, Experian found. But the other models in their rich people’s top 10 included three Hondas, a Toyota, an Acura and a Volkswagen. Now, what can we learn here? Here are three financial lessons that we’re taking away from this. It’s all about: Living within your budget. ...