Obama to announce auto mileage, emissions standards

By KEN THOMAS and PHILIP ELLIOTT, Associated Press Writers [link in title]
WASHINGTON – "President Barack Obama's new fuel and emission standards for cars and trucks will save billions of barrels of oil but are expected to cost consumers an extra $1,300 per vehicle by the time the plan is complete in 2016."

According to my research the average cost of a new car is $28715.00. Add just over 4.5%, or $1300.00 and you're looking at a new car cost of $30015.00! Here in Minnesota the sales tax on a new car purchase is 6.5%, there is an additional $20.00 "Transit Tax" for a total of $31985.98. Don't forget license and registration which, based on the DMV base value book would be about $485.00. Each dealer in Minnesota charges a $75.00 delaer documentation fee of $75.00. Now, your total new car investment is $32545.98! How many people can afford to put 10 - 20% down?

For arguments sake lets say you do put 20% of the total cost down; $6509.20. You finance the balance of $26036.78 for 60 months at 5.24% offered by either the dealer or your local credit union. You would have monthly payment of $494.21 for the next FIVE YEARS! Is it any wonder that both GM and Chrysler are failing?

In what world does Obama live where the average family of four can swing not only $6500.00 down and then pay an additional $494.21 per month? According to the U.S. Census, the median family income here in Minnesota is $59583.00.

And if you have a boat or a couple of sleds, good luck towing them with your new Honda Civic.