(September 2, 2014 at 8:14 pm)Chuck Wrote: Entry level Mercedes and BMW only cost about 20% more than the price of the median priced new car sold in the US, should be within reach of the roughly median income family in much of the US.
Mid range Mercedes and BMW, and entry level Tesla cost twice as much, and would appear to be targeted at family making $150K or above in yearly gross income based on the 20/4/10 rule often used in the American auto industry, which sets car affordability to having a Gross monthly income equal to 10 times the monthly payment of a 4 year car loan, with 20% down.
By those metrics, I could manage a car payment in excess of $1000/month.
The most expensive car I've ever bought was 16K used. New, just under 15K.
Fat chance.
