Who can afford to pay $50,000 for a car any more ?

Question

Will auto makers go broke over greed just like the houseing.Will they wake up in time?

Answer 1

$50,000 for a car isn't that much money....Plenty of people can afford it, my dad's BMW was $51,000. And I know people with more expensive cars than that. I'd gladly pay 50 grand (or more) for an excellent quality vehicle like a BMW, Mercedes, Lexus, Corvette, or Lotus. I would never buy a Toyota or Hyundai etc. I love Subaru and Mitsubishi though, only cheaper auto maker that I would buy a car from (although the car I would buy would be either an Evo or STI which is $40,000 so I guess to some people that is a lot of money.)

Answer 2

Theres alot of people that can afford them. Just take a look around at all the BMW's, Infinity's, Lexus's, Mercedes are on the road. If you work hard for the money you should be able to get one. But there are also alot of people who lease them which makes it easy for a lower income person to drive one.

Answer 3

The big manufacturers wont go broke, they may see profit turndown but they'll survive.

And I've just bought a brand new BMW M3. I'm a builder.  

Answer 4

Not that hard really...I live in a rich area of the US and if people who consider themselves poor here because they have a $200,000 3 bedroom house and crappy cars moved they could easily be driving Ferraris and living in 2 story $60,000 homes.

The profession I'm going into averages $15 an hour starting out, 8 hours a day, 6 days a week, 4 weeks a month means nearly $3,000 a month and you can pay off a Corvette or similar $50,000 in lets say 6 years making monthly payments of lets say $700 a month or less with a good downpayment.

That leaves someone of my profession with $2300 to spend on gas, insurance, rent, etc. The funny thing is my trade is actually the second most in demand in the United States and yet people like you complain that automakers are too greedy because you aren't spending 3-6 hours a day at a technical school that promises that they will find you a job before you graduate.

Yes you can't buy a Corvette on minimum wage but nobody has to buy a Corvette to live. I drive a $2000 car that kicks *** and has 5 seats 4 gears and a V6.

Answer 5

People that don't blow all their money can afford it.  You have to remember that 95% of the economy is people wasting money on stuff they don't need.  They can stop any time.

I had to laugh with all these candidate staff people going on the news every day saying that the "economy" is making the "hard working people" have a hard time.  The truth is, Americans don't work hard, they spend hard.  Borrowing against home equity and then wasting the money has been the only thing driving the economy for the last 30 years.  No politician caused that.  It was just mass stupidity.

When you don't keep all your money wasted ahead of time, it's inevitable that some of it will pile up.

Answer 6

me. i own a lambo. gallardo

and i love it. the big ones wont like lambo and like caddy and stuff like that but the smaller ones probably will and then if the bigger ones dontlower prices they will too.......