A study commissioned by NADA (The National Automobile Dealers Association) found that the new fuel economy standards imposed by the government would increase the price of a car by almost $3,000. In today's market the cheapest new car of 2012 is the Nissan Versa Sedan, selling for $10,990. With the new regulations to become effective from 2017-2025, the cheapest a new car could cost would be about $15,700. According to the NADA study almost 4.2 million households would be unable to afford a new car.
And don’t think “ohh can’t afford a new one, I’ll just buy a used car”. Used car prices would be affected too. Because of the supply and demand of used cars, the prices would eventually increase also.
So I ask you, any ideas on what to do? Besides making your current car last as long as possible…