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At the current minimum wage ($7.25), it’s takes 2.757.6 hours or nearly 70 40-hour weeks to reach $20,000.
That is over 1.3 years of full time work to equal the one “cheap” car option. And it completely ignores any other costs, like taxes and interest, let alone god-damn housing, food, medical bills, etc.
This economic system is fucked. If you’re not fighting for income and wealth equality, you’re sociopathic.
Don't worry, if you can't afford it in cash you can always take out an 84 month loan at 6.5% if you're lucky, so it's actually only ~$25,000, or 3,448.3 hours/86.2 40hr weeks!
This assumes no home, food, or fun outside of work beyond daydreaming.
That's why, if you or someone you know doesn't make enough, you get a used car. Brand new cars are such a waste of money. With that being said, prices across almost everything today is still fucked in the US with housing definitely being the worst offender.
Americans sure love wasting money.
If love is code for being forced to by horrible corporations that can do whatever they want because we have no consumer protections at all. Yup. If you mean buying cars, we kind of have to. Public transit is a joke outside like 3-4 major cities. I remember my first job out of college, had a light rail stop within biking distance from home and one right outside the office. Looked into riding it. Near 2 hours each way, multiple transfers. 20 minute car drive.
Big difference between buying a small car and buying a tank that costs twice as much and burns twice the fuel.
I feel like you don't understand that, in addition to the transportation shortfalls from the comment above, people are also stuck buying whatever vehicle they can afford, which oftentimes are the tanks you describe, which unfortunately have the aftermarket values that fall into lower earners' price range.
Short of that, I challenge you to get a popular rapper to talk about their pimped out Prius.
I have an 02 VW Golf diesel. My coworkers are constantly asking why I don't get a new car. My TDi will still be running when I'm six feet under, I'll never give it up.
Nope. This is all driven by the car companies. They can get higher margins on large vehicles.
Also they’re barely offering sedans any more- except for high performance things
They’re all cross overs and “SUVs” and “pickups”
The fuel economy regulations are more forgiving for larger vehicles. Since the manufacturers fail at making efficient engines, they just make larger vehicles to get a passing rating. This is why small trucks no longer exist and an F150 is now the size of an elephant.
Barely offer sedans? Only if you specifically mean American manufacturers. Toyota, Nissan, Subaru and Honda all offer multiple sedan models. Claiming there aren't any sedan models out there is just pure nonsense.
But is it? Even the few small models available aren’t selling. If this were being forced on us, the few economy models would be in high demand but it seems to be the opposite. What is going on in the American psyche? I don’t understand it.
A fucking Mirage? That's even worse.
It's still cheap, only 20x the minimum wage
At least if you consider that in my country the cheapest is 50x the minimum wage
The new 2024 Chevy Trax, which has gotten rave reviews, starts at about $21k.
It is infinitely better vehicle than this Mirage.
Difference is that the number they're looking at is the average sales price. There is a big difference between starting price for a bare-bones option without fees and actual sales price across the model line.