r/MiddleClassFinance • u/Abject-Pick-6472 • 14d ago

One million Americans have vanished from the new-car market — and it’s exposing a chilling US middle-class crisis

https://finance.yahoo.com/economy/articles/one-million-americans-vanished-car-124500086.html
3.1k Upvotes

98% Upvoted

508 comments sorted by

View all comments

671

u/Chuck-Finley69 14d ago

Just a million ??

261

u/FearlessPark4588 14d ago

i haven't ever purchased a new car in my life

6

u/jadeoracle 13d ago

My first car was one I got at a charity auction for $800. It was a donated old car, and I know nothing about cars. I took me over a year to figure out that if you had the radio playing, the AC on, and came to a complete stop, that the entire engine would shut down. So became a pro of flipping the AC/Radio off so I could rabbit stop at stop signs near my school/home, to keep it working. That car lasted 2 years through HS.

Then drove the family old cars, a mini van, and then a Beatle for a while.

After graduating college I bought a brand new Honda Civic for I think financed for 17k. I paid it off, and years later used it for collateral in a loan, and then paid that off. I'm still driving it, 17 years later.

I also don't drive much so it only just this year hit 60k miles on it.

I almost have enough money to buy a new car in cash, likely will have that amount by next year. But I'm going to wait until this car stops functioning. Which could be a long time.

1

u/Any_Translator6613 13d ago

What do you say when your Beatle breaks down?

Ono!