> at least if they're following standard budgeting advice

Well, many don't. I would be curious what percentage Americans are actually spending on their cars and whether it is actually as little car as they truly need. Monthly payments might be that low if they are spread out enough.

> That means that more than 60 percent of American households currently cannot afford to buy a new car, based on Census data.

Would be curious what the car dealer financing agents have to say about that, as there are 120 month car notes now.