By Don Morgan
A new Bankrate study looks into which American cities are the best places for car affordability.
While San Antonio has a lot of great car dealers offering some amazing deals, the Alamo City came in as the 5th WORST for a places to get a new car.
Claes Bell at Bankrate says it’s not because of anything dealerships are doing. You can credit the city’s low average household income, high sales taxes and insurance rates.
According to the study, the average San Antonio car shopper can only afford to spend a little more than $16,000 on a car. The average price for a brand new vehicle, $36,000.
Bell says often times people can find an affordable payment on a new car but the term is stretched out for a long time and then, you get beat up by auto insurance rates.
Bell says the best thing to do in order to avoid paying on the same car for several years, save up for a decent down payment on a quality used vehicle.
By the way, Miami, Florida is the absolute worst city for car affordability while Washington DC is the best.