this post was submitted on 30 Apr 2024
838 points (98.5% liked)
Technology
59581 readers
2944 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
The avarage used car loan in the United States is 26k. That price is not "out of reach for the vast majority of people buying used cars".
The average is not the median, and there's about 20% of the population living below the poverty line that can't qualify for a car loan. If you exclude the top 10% that can afford much higher loans, that average goes way down.
Median is 23k...
according to the 2022 US census the poverty rate is 11% not 20%, it hasn't been above 20% since 1959.