How long do Russians have to save up to buy the latest Lada

AvtoVAZ has just launched its latest model, the Aura business sedan, but analysts have calculated how many months Russians will have to work to buy it.

Lada Aura is one of the rare innovations that was produced by its own forces and was not assembled from Chinese parts, such as, for example, Moskvich, so many people had an interesting question, how long ‘ you should save to get the extended, improved comfort. sedan.

According to information obtained by Auto.ru referring to SberAnalytics data and based on an average salary of 80 thousand rubles (750 euros), Russians will be able to buy the new AvtoVAZ model after two and a half years. More precisely, to pay for a car worth 2.6 million rubles (24,500 euros) – that’s what the Vesta-based Lada Aura business sedan costs – Russians with an average income will need almost 32 months , writing the aforementioned publication.

True, until this happens, the total salary earned would have to be returned, so a more reasonable period is around 60 months or five years.

The differences between the regions are significant, for example, residents of Chukotka, where the highest average income is recorded – 179,300 rubles (about 1,700 euros), would collect the​​​​ The latest Lada is the fastest, and in Moscow with 144,100 rubles (1,360 euros). it would take longer – respectively 14.5 and 18 months.

Recently, CarVertical did a study to find out how many months in European countries – including Latvia – you have to work to be able to buy a used car with an average salary.. The study showed that the ability to afford a car varies greatly from country to country.

After studying the used car market in 23 European countries, it was found, in general, to pay a used car ​​​​​​at an average price, it is necessary to work for almost 10 months. For many drivers, buying a car like this can be challenging.

Of the 23 countries included in the study, Latvia ranks 16. Nevertheless, the ability to buy a car in Latvia is better than in most European countries. Latvians have to work for 6.9 months to buy a used car, like their Lithuanian neighbors. However, it may also take longer, as not everyone can save their entire salary each month – even in multi-earner households.

Financial experts generally recommend not spending more than six months’ salary on a car. However, car buyers in most of the countries surveyed ignore this advice and go for more expensive vehicle models.

Portuguese drivers from the European countries surveyed have to work longer to be able to afford a used car​​​​​​at an average price – up to 22.4 months. Romanians follow – 15.4 months and Serbs – 14.7. Finns have to work the least to buy a car – only 2.7 months. Next are the Germans – 6 months, and the Swiss – 6.1.

The ability to afford a car varies greatly from country to country

According to the data of the Latvian Financial Industry Association, the average loan amount for buying a used car in Latvia is 7,500 euros, and the average salary is 1,100 euros. As drivers often rent more expensive vehicles, cheaper alternatives may not be included in the survey. Therefore, the average price of a vehicle in the country could be even slightly lower.

For example, BMW 3 series and “Volvo XC60” are among the most popular car models in Latvia. The estimated minimum price of 2016 or newer 3 series vehicles is 19,000 euros, so you have to work for at least 17.5 months to be able to afford it. On the other hand, the “XC60” of a similar year costs almost 20,000 euros. To buy it with an average salary, you have to work for at least 18.4 months.

The highest average price for a used car in Switzerland is 39,000 euros. However, the average salary in Switzerland is also the highest among the countries analyzed in the survey – 6,377 euros. Next comes Austria, where the average car costs 28,500 euros, and in Portugal – 24,200 euros. Although Austria and Portugal spend the same amount of money on a car, the average salary of the two countries is very different. In Austria it is 2,600 euros, and in Portugal – less than 1,100 euros.

Ukraine is in a similar situation to Latvia, with the average price of a used car at 5,000 euros, and Finland – 8,000 euros. In the mentioned countries, purchasing power is very different. The average salary in Ukraine is 394 euros, and in Finland – more than 2900 euros.

Some motorists may think that putting several months’ salary into buying a used car is too expensive, but it should be noted that used vehicles can have various hidden costs. For example, many cars for sale may have false odometer readings or even hidden damage.

Stability can be seen in the used car trade

Mats Buzelis, an automotive industry expert with the company “carVertical”, says that the used car trade has recovered, it is no longer dead, and the market situation has improved compared to last year . As new vehicle sales improve, slightly used vehicles that have been in the hands of one owner will appear on the used car market, increasing the options for buyers.

“It can be noted that the used car market is stabilizing across the European continent. Used car prices are gradually decreasing as supply catches up with demand. Finally, those people who wanted to sell their cars can buy a new one. You don’t have to wait years to buy a single new vehicle,” explained “carVertical” representative Mats Buzelis.

Research methodology

“carVertical” research examines and ranks 23 countries in descending order, according to the time needed to find a used car. This data was obtained based on the average car price and salary in each country. The average price of a used car in each country is calculated on the basis of publicly available information in the media, statistics of advertising portals, data provided by “carVertical” cooperation partners, as well as information from centers state for 2023 and 2024. The average salary in each country was obtained from the “Numbeo” portal. The study was conducted from June to July 2024.