How long do French people have to work for a car?

Buying a used car represents a significant expense for the French: here’s how long they have to work to afford it.

The company specializing in automotive data carVertical was interested in the number of months of work necessary to acquire a used carin several European countries including France.

A used car represents an important purchase for the French

This study looked at the used car market in 23 European countries : on average, it takes nearly 10 months of work to acquire a used vehicle. In Francewe place ourselves in 11th position among European countries where you have to work the longest on average to afford a used car: approximately 8.5 months.
For comparison, the Spaniards have to devote the equivalent of 10.4 months of work, while the Belgians only 7. In practice, it often takes much longer to achieve this objective, because few people are capable of ‘save 100% of your monthly income.
Portuguese motorists are those who have to work the longest, with 22.4 months required, followed by Romanians with 15.4 months, and Serbs with 14.7 months. On the other side of the ranking, the Finns only need 2.7 months of work, 6 months for the Germans and 6.1 months for the Swiss.
According to experts, it is recommended not to exceed the equivalent of 6 months salary for the purchase of a used car. But very often, European motorists spend much more.

The average value is the highest in Switzerland

To carry out this study, carVertical based itself on the following data: according to figures from INSEE, in France, the average salary amounts to 2.587 eurosand the average price spent by the French for the purchase of a used vehicle is around 21.900 eurosaccording to figures from La Centrale. However, car prices vary greatly, and for example, the Peugeot 208 and Renault Clio, the most popular models in France, have a median price of 12,000 euros, the equivalent of around 5 months’ salary.
“carVertical conducted a study among dealers in France, revealing that used cars are sold for 30,000 euros on average. With a higher investment, buyers prefer to turn to dealers, who must guarantee a verified history. However, it is always advisable to check this history to ensure that the price reflects the quality of the vehicle”specifies Matas Buzelis, Automotive Expert at carVertical.

It is in Suisse that the average value of a used vehicle is the highest: almost 39,000 euros. The average salary is also the highest there: 6,377 euros.

Source : carVertical