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The average American can't afford a new car. The average new car transaction price has recently ballooned to an all-time high of nearly $52,000 at a time when most consumers don't have $1,000 in savings. Jobs are down, wages are down, the value of the dollar is down, and prices are way up . With utilities, insurance, groceries, and gasoline prices exploding this year, most of us haven't got, as my Grandfather would frequently say, a pot to p*ss in or a window to throw it out.

How are Americans coping with an affordability and savings crisis? Many of us are foregoing a new car purchase, with new car sales down 3.6% from last year .…