With a presidential election looming and price tags seemingly skyrocketing, it’s safe to say that these are uncertain economic times, especially as it pertains to buying a new car on a middle-class budget. A is at least a five-figure outlay, and luxury rides can even reach six figures. For those in the middle class (i.
e., those households making between $56,600 and $169,800), it’s just as important to know what cars to avoid as it is to know what you want. As , money expert Humphrey Yang recently broke down the current state of affairs in the American auto market, noting that average American citizen’s income was approximately $59,384 — which is just a little over the average new car price.
Purchasing a car that literally costs one year’s salary is a risky proposition, especially when expensive car loans and high insurance. As such, should at the very least stick to cars well under the $40k mark. Here are five that go well beyond that price point, and thus outside the reach of the middle class.
Earning passive income doesn't need to be difficult. $41,900 Per , this hybrid comes with a “well-crafted interior,” “choice of gas or PHEV powertrains” and “smart storage features in the cargo area.” Unfortunately, it also lacks a fully electric model for the more environmentally-conscious middle-class shoppers, and it also comes with an MSRP over $40k.
$47,295 According to , this Audi, while “chic” and “fun to drive” costs nearly $50k and is awfully short on cargo space for as expensive as it is. $61,590 reported that Dodge’s electric Charger Daytona not only merges muscle car style with the environmentally friendly tech of an electric vehicle, but that it also — unfortunately — comes with a price $14,000 more expensive than the 2023 gas-powered model. $70,000 Electric vehicles are, at the very least, worth considering as an investment in the future, as they lessen environmental burdens and come with government incentives for buyers.
That said, to broaden their appeal, EVs such as the Tesla S come loaded with incentivizing special features — and by their nature, require complicated battery technology, all of which price them outside of middle class budgets. Per , this EV is well-reviewed but very pricey. : $85,596 While any middle-class family could use a big wagon to fit the kids (and pets!) for a long road trip, or even a quick jaunt to the store, comes at a high cost — so high, in fact, that after insurance prices it would likely cost you over $100k.
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