Cars are atupid expensive. Right now Americans are spending $500-700/mo on car payments for a 5 year loan. The vehicles themselves generally cost around $50k, and most people upgrade every couple years.
Assuming someone buys their first car at 20 and stop driving at 70 (easy numbers), buying a new car every 10 years, they’ve spent $200k (not including interest). If it’s a pickup truck, it’ll be much more than that.
Keep in mind, that’s just the price of the vehicle. You also have fuel, registration, insurance, and other maintenance that has to be performed regularly. On top of that, you also have to pay for the roads with your taxes.
I’d recommend this video for a great breakdown of the other costs.
Cars are atupid expensive. Right now Americans are spending $500-700/mo on car payments for a 5 year loan. The vehicles themselves generally cost around $50k, and most people upgrade every couple years.
Assuming someone buys their first car at 20 and stop driving at 70 (easy numbers), buying a new car every 10 years, they’ve spent $200k (not including interest). If it’s a pickup truck, it’ll be much more than that.
Keep in mind, that’s just the price of the vehicle. You also have fuel, registration, insurance, and other maintenance that has to be performed regularly. On top of that, you also have to pay for the roads with your taxes.
I’d recommend this video for a great breakdown of the other costs.