FOR DECADES, CAR OWNERSHIP HAS BEEN a trademark of the American lifestyle, with vehicles becoming symbols of freedom, independence and even rebellion, as well as a necessity. But in 2024, the country’s legendary love story with the automobile may have stalled, as cars have become unaffordable to millions.
Kate H., 37, told Newsweek that she needs a car “to be alive.” But after hers was totaled in late December, she cannot afford to buy a new one because it would cost her too much and she has not been able to secure good financing.
“Having a car that is 10 percent of my income, including gas, insurance, car payments, etc. means I probably need to budget around $400 or less per month,” she said. Kate is on Social Security disability…