Cost of car ownership on the rise, becoming unsustainable for some drivers

The total annual cost of owning and maintaining a new car climbed to more than $12,000 last year, up from about $11,000 the previous year. Monthly car payments also spiked along with rising interest rates. NBC News’ Christine Romans has the story.

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#Cars #Vehicles #Driving

[casualsuede]

On maintenance for my now 2007 Toyota Camry? I spent over $4k in repairs....over 17 years. Maintain your car and your car will take care of you.

[hadleyslife]

Insurance is a f-ing scam. I’m tired of it. I shouldn’t have to pay more on my premium because other ppl can’t drive!!! They need to make law that insurers can’t raise rates of ppl that have no accidents or tickets!!!

[fdetalladoautomotriz]

Mother of 6 is where the problem started lol car maintenance is the least of her issues.

[YourTransmissionRepair]

Add housing costs to vehicle costs, and it's easy to see why most young adults can't afford it. Add in the costs of the wife, kids, and life's costs in general; it's easy to see why young adults are living with their parents.

[noid]

There are still affordable vehicles out there. But when you spend $50000 or more.Yes, you're gonna have to pay more to fix.It's more expensive. Buy a cheaper car and Stop trying to impress people.

[bobwoods]

If you're going to take your car to the dealership for maintenance and have them do everything that's recommended it will never be affordable to own a car.

[kingokafor]

What the fuhk is a documentation fee? The whole process is fraudulent

[Michaelhunt-Ertz-gisd]

Wait until we HAVE to start buying used electric cars.. car ownership is going to be financially unattainable for regular people.

[seattlekarim]

People keep buying bigger and more expensive cars with more and more features. Higher insurance and higher repairs come with that.

[deadcarz]

We always buy older vehicles with the lowest mileage possible. I can still work on them, and the parts/ins. is cheaper.

[FigsForYou]

More of the "you will own nothing and be happy" bullsh.

[TahoeMacedon]

meanwhile doordash, uber and lyft are paying the drivers base pay of $2 per ride or delivery that will take 15-20mins, pay same as 5yrs ago. PATHETIC

[jo]

Mechanics have been screwing customers for decades, nothing new. New car prices are going up every year.

[noel]

And the vehicles currently built are generally disappointing with cheaper materials and lower quality build. Recalls are common these days.

[zjones]

It does not cost 10k a year to maintain a car not counting monthly payments that's complete BS

[CraigWhitmour-qqeg]

People cant even handle 1 computer let alone 60😮

[WheelEstate]

I'm a REALTOR® and a Financial Coach. I'm on the front lines of the housing and financial crises for the average American family. Simply existing is becoming unsustainable.

[carribgirl]

Cars that are always being recalled like everything else in the states. The level of greed is madness.

[youlikeitiloveit]

Where did they get $12, 000 a year figure for owning & maintaining a car?!

$1, 000 a month for a car and that doesn’t include payments? A NEW car also… that should be under warranty.

They must be getting new tires every month or something. Or maybe 90% of the people they interviewed owned a hyper car.

[seadweller]

In California, car registration goes up every year. There was a time when it used to go down.