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
Cars that are always being recalled like everything else in the states. The level of greed is madness.
This is rampant price gauging. I own a $200K MSRP 2009 Mercedes and the annual cost to own and maintain outside of payments is $2,145/year. Far from $12,182/year. Of course I do the strictest preventative maintenance before recommended. I also stay away from the Mercedes dealership and utilize independent certified Mercedes technicians. The model has been studied relentlessly before purchase to avoid surprises. I suggest people do the same and research their cars thoroughly and develop a maintenance strategy before the fact.
yes, that’s right…the problem is so bad that the Amish started their own “Uber” business
That’s right! I’m going back to horse and buggy.
Hey yanks you live in a profit driven country.
The type of vehicle you buy and own as a lot to do with how much you’ll spend to maintain it in the long run, a lot of people don’t think about that.
Now that I’m old & disabled an e-bike does the trick for me. It’s ideal for my bad knees. It’ll go 20 miles w/o pedaling & up to 60 miles if pedaling heavily. It’ll also go 23-41mph depending on wind, hills, & payload. I love it. Get you one if you’re getting old, it helps greatly with balance as the old internal gyroscope starts getting wobbly…
I went CAR-FREE for over a decade. I bicycled & took public transport everywhere.
*Minneapolis ranked the No. 1 most bikeable large city in US*
_”Minneapolis is the most bikeable large city in the United States, according to a new ranking by PeopleForBikes.”_
SOURCE: BRING ME THE NEWS, by TOMMY WIITA JUL 10, 2023
….all of our busses & trains come equipped with bike-racks.
I saved approximately $10K/year. My savings reflect that estimate.
Individual car ownership is the most expensive form of ground transportation on the planet. ….likely in human history.
@@xjarheadjohnson Great post. Thanks for your service! I was under the assumption that once a Marine always a Marine. Salute!
That’s new cars for ya. I sold all of my new cars and replaced them with old. I have 2 old trucks both from 1984 a dodge ram and a Chevy army truck. Old trucks are reliable and cheap to repair and maintain. New cars are a scam.
6 kids. Nuts
Even working on your car isn’t as cheap as it used to be
I’m lucky I learned how to swap motors when I was a kid
I guess the Democrat/WEF plan is beginning to have the effect they want.
Simple greed…. it comes with capitalism… corporate greed. yep
I have never owned a car my life,street bikes ,scooters ,dirt bikes and prototypes do my own mechanic work
Those guys are hacks
There’s no way this is excluding the cost of car payments. $12,000 is probably more than I’ve paid for the last 4-5 years combined.
I’m 50 & I’ve never bought anything but used cars. I think that estimate is more-or-less, accurate. Gas, insurance, maintenance & when you spread the cost of purchase, itself, over it’s short lifespan the vehicle.
I know this because, I went CAR-FREE for over a decade. I bicycled & took public transport everywhere.
*Minneapolis ranked the No. 1 most bikeable large city in US*
Minneapolis is the most bikeable large city in the United States, according to a new ranking by PeopleForBikes.”_
SOURCE: BRING ME THE NEWS, by TOMMY WIITA JUL 10, 2023
….all of our busses & trains come equipped with bike-racks.
I saved approximately $10K/year. My savings reflect that estimate.
Individual car ownership is the most expensive form of ground transportation on the planet. ….likely in human history.
Got an older dodge ram truck thankfully replacement parts for it are cheap and plentiful. But I do feel for people with newer vehicles where parts are expensive and a pain to replace
I do all my own maintenance and save hundreds. Average oil change for me 40$, oil/air filter included. Brake job about 200$ and thats for all 4 rotors and pads.
Thanks Biden
Pay 💰 💰 pay 💰 and get paid in the LORD instead.
$12,00 per year is total BS! Time for the ‘got to have feel good people’ to start doing some of their own maintenance!
I’m 50 & I’ve never bought anything but used cars. I think that estimate is more-or-less, accurate (when you spread the cost of purchase, itself, over it’s short lifespan the vehicle).
I know this because, I went CAR-FREE for over a decade. I bicycled & took public transport everywhere.
*Minneapolis ranked the No. 1 most bikeable large city in US*
Minneapolis is the most bikeable large city in the United States, according to a new ranking by PeopleForBikes.”_
SOURCE: BRING ME THE NEWS, by TOMMY WIITA JUL 10, 2023
….all of our busses & trains come equipped with bike-racks.
I saved approximately $10K/year. My savings reflect that estimate.
Individual car ownership is the most expensive form of ground transportation on the planet. ….likely in human history.
Buy old and fix it yourself.
The car insurance is what is killing me!
I went CAR-FREE for over a decade. I bicycled & took public transport everywhere.
*Minneapolis ranked the No. 1 most bikeable large city in US*
Minneapolis is the most bikeable large city in the United States, according to a new ranking by PeopleForBikes.”_
SOURCE: BRING ME THE NEWS, by TOMMY WIITA JUL 10, 2023
….all of our busses & trains come equipped with bike-racks.
I saved approximately $10K/year. My savings reflect that estimate.
Individual car ownership is the most expensive form of ground transportation on the planet. ….likely in human history.
Insurance… Both auto and medical is a RIPOFF
They are lies and scams
Notice she said SUV. I bet you an uncool minivan would be cheaper.
REQUIRE RETRAINING FOR LICENSES!
Cars are more expensive / complicated, parts are more expensive because they cost more to make. It. costs more to be a mechanic such as buying equipment, increased garage liability / insurance, increased rent, all which translates to a higher labor rate that passes along to the consumer. When you think about it, you can’t really blame automakers, it comes down to how those we elected into office effectively run government in addition to how much they intervene with automakers by foisting rules & regulations on how they should build their cars. Because they are forced to constantly change, they can hardly focus on making cars more reliable.
A useless, uninformative video since it’s something that’s happening across the entire life of a citizen in the US (and probably elsewhere too)
When was the last time you had a plumber, electrician or just went to the market? People want a no skill job and expect $20 or more an hour. Of course prices go up since now the cost of producing, shipping as well as stocking that item has been touched in some way by people who all expect to be paid at a minimum of $15/hour and many much more. That’s called Economics 101, Wage Price Spiral. Car insurance – when you see a Tesla with what appears to be minor damage has a repair bill of 5 figures to replace a bumper cover or is totaled since the battery compartment has a deep scratch, you might start to understand that rise in price. NBC, at least put some effort into defining WHY these prices are going up instead of screaming it’s too high!
We got slammed into by a guy running a red light. His insurance gave us bearly enough for a car on payments or an old beater car.
And we did NOTHING wrong.
Had to go into debt just to afford a vehicle.
Single no help. Have to eat garbage food. Never get to go out. Never get new clothes or nice things. Can only afford a motorcycle
Used JDM from the late 1990s are fuel efficient, silent, reliable, and have that classic VIP look and coser a fraction of the plastic Power Wheels cars of today.
They want you to stop driving to reduce emissions. if you can’t afford transportation; you will not be contributing to global warming.
Stay home, collect a government check, vote democrat….they will control you…..
$60,000 for electric car battery plus labour
Imagine, you squeeze the wages for the middle class for 20 or 30 years and car ownership, especially two cars per household, becomes untenable. Today, many households are looking at owning only one car. We are back to the 1950s.
Anyone that has owned an electric car understands the operations and maintenance is far cheaper with an EV than an ICE (a gas car). No high bills to fill up the gas tank. No tune-ups or oil/filter changes. Even the brakes last much longer due to re-gen. Yes, they cost more upfront, but are cheaper overall.
well thats what yall get for voting the hellbent on destroying the U.S. dems
Tell me about it. I took my Toyota RAV4 for routine maintenance (oil change, tire rotation, etc) to the dealership and I ended up with a $900 tab. Heaven knows what I will pay if something actually breaks and needs repairs
that’s ridiculous. On my 2008 I could redo the entire suspension and still have $400-500 left over. Oil change would cost me $25.
😵💫
Learn to work on your own vehicle and you wouldn’t have to pay a mechanic, you’ll learn the new options on an iPhone 15 but not the new options on your brand new car
Go one step further, and fix other people’s cars. Cash in on other’s lack of knowledge.
When dealers start scamming their customers because the owners tell them too because they want more money, tf are we supposed too do? When banks wont give you a loan on a car more than 5 years old because they are allowed too, tf are we supposed too do? When the price of the average new car went from 30k too 50k in the span of 5 years, tf are we supposed too do? When new cars arent reliable, specifically American and European brands, so they have way more issues, recalls, and high repair costs, tf are we supposed too do?
I’ve had my current car since 2005, paid it off in 2011. I was thinking about getting a newer car but not with reports like these. SMH
I’m not going to buy another car, when my current car gives out it’s just not feasible. My car has 268,000 miles on it.
“gives out”? What do you mean? Needs transmission work? Engine rebuild? Needs new balljoints and tie rods? I have 30 year old cars running fresh as can be for cheap lol
It’s a 2014 C-max hybrid, any number of thing could total it. Transmission 6k engine 4K, batteries 4K. It’s not worth it
And idiots keep voting for polices such as EV cars that are going to cost even more.
The only thing I can saw is learn to work on your car. I understand that something’s like electrical issues are hard to diagnose. But a scan tool,good old YouTube and Google can help you figure out and fix most things.
All these new technology to keep people from accidents and insurance rises 🤣😂🤣
Lol its all a lie people drive worse than they did when cars had no computers
But the economy is great, huh? 😐
and when insurance will get higher premium to subtitute awited–long for missed out—QC battery replacement 😂
Do they not own a Toyota?
When you make towns and cities car dependent, it keeps the residents poor. Also, when car manufacturers only offer SUVs, it makes customers poor.
Honestly, SUVs are for suckers. Most people would be fine with a Corolla.
If i din’t know how to work on my own cars, my life would be impossible right now. But knowing how to do basic things like brakes pads and oil changes goes a long way.
Everything is getting too expensive
It’s all on track the way the said you will owe nothing and be happy.
Stop buying gigantic gas guzzling SUV land tanks that weight 5 or 6 thousand lbs.
Voters starting to realize, the hard way, that lockdowns and bailouts have consequences. Economics isn’t just a theory, it’s every day life. Stop deficit spending.
People are spending too much on new cars. Poor Financial discipline and lending regulations are a huge part of this.
TRUMP 2024 babyyy❤❤❤🇺🇸🇺🇸🇺🇸🔥🔥🔥
😂
This is why I drive a 2001 Camry 4 cylinder
Buy Yaris and Corollas.
Do you Need or want. Bought a new Nissan Versa in 2015 < $15,000 before tax. Knowing I was retiring 2020. need a reliable car for overtime the next 5 yrs. knowing I'm keeping for long haul 10 + years. did the math don't want even a simple SUV w/ fancy electronics & payments + problems + insurance. almost 100,000 Miles no issues + I do my own maintenance except Tires/Exhaust/Trans oil change all the harder stuff. no payments - if I keep another 6 yrs - I got all my money worth.
If you learn to do basic maintenance on your own vehicle it will save you a lot of money
Mechanics are extremely untrustworthy except very few of them. I wonder how you gonna stand before God when you die if you gonna take advantage of people like that. Some maintenance doesn’t really cost that much
America needs to build more/ better transit infrastructure, so less reliance on vehicles…
You must be a democrat LOL!
Bidenomics.
I like how they just avoid the entire inflation, excessive spending by government, over regulation by government etc…
It is because of Climate Change and You, not government LOL! Anything to deflect blame from the Government…
Car jackers and Catalytic thieves cause insurance to go up. Now I need a new catalytic and it costs more than a thousand dollars to replace.
Keep costs down by keeping up with maintenance.
That was a statistic report only. No value at all.
Cars have already been unsustainable for MANY drivers. Most people can’t even pay cash for their vehicles and can’t even fix or get around a computer. With modern day cars with over 60 computer control modules each, OF COURSE that’ll continue to get expensive to fix. Most of this is caused by consumer demand anyway; wanting a better infotainment system, safety features, comfort features, behemoth and distracting built-in tablets on the dashboard, etc, without even thinking twice about “What happens when it breaks?”
Phones break all the time due to the neglect of the owner or manufacturer defects. Imagine having to fix a built-in touch screen in your car because it failed after 2 years. Either get some education in fixing your own vehicle, or pay someone else to do it.
Gotta learn to fix things yourself these days
People don’t want to do “dirty” work anymore
Insurance cost in 2024 is the same as the average car payment in 2019…🤔
Bidenomics strikes again…the climate change hoaxers deserve a little blame, too…
Parts are affordable mechanics are not.
I stopped buying new cars a while ago. Best financial decision I’ve ever made. And don’t be fooled by 7 or 8 year loan. If you can’t pay it off in 5 years, you can’t afford it.
This is why EV sales down and it is not rocket science. Everything is getting expensive.
LOL, our little toyota we have in the Philippines costs $325 /year to register and insure. You folks in the US are getting reamed by escalating prices 🤣
I have a clean driving record at 27. My ducati cost 50 and my golf is 57. Stop sucking at life
People have had it. Biden is toast if people dont start seeing relief,. God knows the elite crooks have been gotten theirs…
This is so true
My Bugatti cost me 12k a year in maintenance. Just can’t seem to catch a break.
I use YouTube to learn how to work on my own cars. I bought a decent scantool for $450 and I’ve already saved thousands in just diagnosing issues alone.
Learn how to fix the cars yourself that’s what people did back in the days that’s what I do today even on newer cars just hook up a obdii that’s made for your car and it’s done unless you want to download the app version off a laptop to plug a usb to the obdii that way when your done repairing your car you can reset the sensor yourself .
Do not buy a new vehicle its a rip off. Learn to change oil and do simple maintenance. I pay less thab 500 a year on repairs and maintenance. I also drive a 99 tacoma.
They choose a single mom of 6 to spotlight for financial hardship? Hardly an average example. Do better NBC.
Hmmm wonder why??
We put way too much technology in cars. How about we just build cars for there intended purposes and stop putting so much technological crap in them that breaks and cost a fortune to repair.
Did he just say 60 computers? Mercedes – probably, Tahoe – not so much.
OK you can just ignore half of those sensors though.. low air in the tire’s..lol..
Weird…..food, cars, and homes all at insanely high prices at the same time….
Flood cars is everywhere!
More public transit, and walkable cities please. 😎
Greed
Insurance is a scam. If a company has over a 500k customers paying 300 dollars a month…. thats over 150 million dollars a month.
Climate events? The ipcc shows data that there is NO proof or evidence that there are higher frequency or more severe storms. This is inflation and more complex cars along with the fact that the WEF world economic forum is perfectly happy getting people out of their cars and into 15 minute cities
1:44 which i never get why & auto makers get away putting all the useless tech
People complaining about everything getting more expenses right before they engage in unprotected intercourse, then 9 mo later they will complain they cant afford diapers
Time to get a motorcycle.
Garage mechanic are boosting their hourly price every year by like 2$/hour more per year it’s not insane
I can’t even afford to pay attention much less my car note, car insurance, utilities, credit cards, food, you name it, everything but the wages have risen.
Everything becoming financially unstable for everyone.
I actually died laughing. “Heather, mother of six(only five in the phone lol), can’t afford her car and had to downgrade. Her kids are like 25 lol.
The government wants to take your car away. They are attacking you from every direction. We all will lose everything, and I mean everything if white people dont find some courage.
Can only thank the #Demoncrats for all the #Instability
I have seven cars, it’s not that hard, course I do all the work on them myself. And many of them are 50-year-olds. I gained $20,000 when my car got hit and I salvage titled it and fixed it for $4,000