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This city is a car buyer's delight for affordability [USA TODAY]

BANKRATE (RATE)  More Company Research Source: USA TODAY
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PDF A Toyota Camry sits on the sales lot at City Toyota in Daly City, Calif. , in this 2010 file photo (Photo: Justin Sullivan, Getty Images) CONNECT TWEET LINKEDIN COMMENT EMAIL MORE Scoring a new set of wheels may be out of reach for many Americans. There's only one metropolitan area in the nation where consumers earning the median income make enough to purchase a new car with a prudent loan repayment schedule. It's Washington, D.C., where the average household makes nearly $100,000 per year, finds Bankrate.com, a personal finance website. In the rest of the 25 largest metropolitan areas, most people can’t afford to buy the average-priced new car with a 20% down payment and four-year repayment schedule. Median household income is determined by looking at what level of annual earnings is exactly halfway between the richest and poorest – half make more, half make less. In each of the top 25 metro areas other than Washington, D.C., some on the upper [Read more]

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