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this post was submitted on 17 Jul 2023
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Cars - For Car Enthusiasts
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We cannot afford car loans not because car loans are expensive, but because we cannot afford anything.
Why not both?
The average American spends $1k a month per car on auto loans, insurance, gas, and other car-related expenses, and the average family has 2.5 cars per household.
Maybe cutting those down or out completely would make people more financially resilient. Of course, businesses should pay people better, too, but decades of studies have shown us that planning our cities in a way that increases car dependency is more expensive and unsustainable for everyone.