Just a bit under 7% of US households make over $200k a year. That's a household, which means usually a couple making that much combined.
I often see things and ask myself “who can afford this?”. I don't think most people actually can.
There are 109 million auto loans in the US. I honestly think used car prices have been artificially increased so you are pretty much FORCED to finance anymore.
You can't even find a half-assed car for less than $6,000 anymore. Some dealerships don't even have anything on the lot for under $10k.
But places make the things people buy, and sadly way too many people want more car or truck than they need. Soccer moms think they need a giant tank of an SUV for them and their 1 kid. Joe thinks he needs a 3/4 ton dually truck with leather interior and heated/cooled seats to haul a few sheets of plywood twice a year.
Which makes it even harder to afford vehicles because finding ones without a million options is getting harder and harder. There's so many SUV's anymore it's insane. So many people don't need one, either.
We have a toxic obsession with consumerism and keeping up with the jonses.