A $200k SUV might sound like a lot, but the reality is the vast majority of new vehicles sold in the US today are between $20,000 and $30,000.
And, to be sure, the vast bulk of new car buyers are buying a high-performance car.
But what about the rest of us who want a more efficient, low-tech way to get around?
The average American spends more than $3,000 a year on their car, according to a report from auto site Edmunds.
In comparison, that figure is about $2,000 for a used car, $2 and $2.50 for a hatchback, and $1,500 for a minivan.
So, how do you get a car for that price?
The most common way is to pay for a brand-name manufacturer, which can range from $15,000 to $35,000 depending on the model and how much customization the vehicle has.
The cost of a brand’s brand-new car is often $2-3 million, while the cost of their current-generation model is typically around $6 million.
To make matters worse, there’s the fact that brands often have to pay huge sums of money upfront to acquire a car, so the cost can be astronomical.
And if you want to get a brand new car that has a warranty, you have to go through a dealership, which often charges a lot more.
To get a better idea of how much a new car will cost, Edmunds analyzed the average cost of new and used vehicles across the country in 2016.
It determined that the average new car costs $25,000, which translates to around $18,000 if you factor in the manufacturer’s costs, including a $1 million deductible.
That’s a savings of $5,000 over the average price of a used vehicle.
The average cost for a new SUV was $25.30, while it cost $23,700.
The savings for a midsize crossover was $7,500, while a sedan was $8,000 cheaper.
But the real kicker is that a lot of new cars are actually pretty inexpensive.
The cheapest car to buy was a new, mid-size SUV priced at $27,900, which Edmunds said was the lowest price ever paid for a car.
The best value?
A brand-owned vehicle costing around $36,000 that cost just $739.50 to purchase.
This is a huge difference when you factor all of the extra costs you have if you choose to drive a car in the future.
The new, midsize SUV cost $26,500 to buy, while an SUV that had an automatic transmission and was equipped with an electric or plug-in hybrid powertrain cost $25k.
This means that if you wanted to drive the same vehicle over the next 10 years, you’d have to buy an expensive new vehicle.
That’s why you can get a lower-priced used car for less money.
And because most of the brand-ownerships you see on the market these days have an unlimited warranty, there are no upfront costs.
So if you decide to buy a used SUV, be sure to research the car’s specifications and make sure it has the most modern technology, because most manufacturers won’t give you the best price if you’re not prepared to pay the premium.