A car is an expensive purchase, so drivers often ask themselves: how much money is worth spending on a vehicle? CarVertical, a company that collects data on cars, conducted a study to find out how many months you need to work in European countries, including Latvia, to buy a used car on an average salary. Financial experts usually advise not to spend more than half a year's salary on a car. However, in most countries where the study was conducted, residents ignore this advice and choose more expensive models. A study of the used car market in 23 European countries showed that on average it takes almost 10 months of work to afford a used car at an average price. For many drivers, buying such a car can be a difficult task. Latvia ranks 16th out of 23 countries that participated in the study.
How much do you need to work to buy a used car in Latvia on an average salary?
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