In our country, as a result of the rapid depreciation of the Turkish Lira for the last 4-5 years and the increase in inflation, there have been huge hikes in all electronic products, especially in automobile prices. So how long do US, European and Turkish citizens working with minimum wage have to work to buy a car?
How long does it take to buy a car with minimum wage?
Due to the Covid-19 pandemic and the Russia-Ukraine war, problems arise one after another all over the world. As a result of these, there is the problem of high inflation, which directly affects the purchasing power of people and is most felt in our country.
Of course, due to the depreciation of the Turkish Lira against other currencies and especially the high tax on technological products, the prices of automobiles, computers, televisions and mobile phones have increased more than 10 times compared to a few years ago.
Emre Özpeynirci, on the other hand, published a compilation comparing Turkey with the USA and European countries. She shared the cheapest car models that citizens working with minimum wage in the countries mentioned here can buy in their domestic markets and how much work they can buy.
We see that the cheapest passenger car sold in Turkey as of October 3, 2022 is the Hyundai i10. The current price varies between 331 thousand 500 TL and 402 thousand 500 TL depending on the selected package. Based on the most suitable one, we can say that a citizen working with minimum wage needs to work for 60 months to buy a car.
When we look at the USA, we see that Chevrolet’s Spark model is sold for between 17,500 and 18 thousand dollars. The minimum wage varies by state, but ranges from $1200 to $2400. Accordingly, it is possible to buy the specified car with 8 to 15 months of work.
Again, according to Özpeynirci, French citizens can buy Dacia Sandero, which is the cheapest car model, with a minimum wage of 8 months, while the British can buy Dacia Spring with 6 months of work. Of course, let’s also mention that while the rate of working with minimum wage is close to 50 percent in our country, it is below the European average of 10 percent.
Do you think it is possible to buy a car with minimum wage? Don’t forget to share your views with us in the comments!