Browse over 9,000 car reviews

Sorry, there are no cars that match your search

New car affordability hits 38-year high

Buying a new car has not been this affordable since 1976, economists say.

If you're looking for a new set of wheels, economists say buying a car now is the most affordable it's been since 1976.

CommSec compared how many weeks of wages are needed to pay for a standard new Ford or Holden.

An average income earner today has to toil for 25.4 weeks to purchase a Ford Falcon XT auto sedan.

Four years ago, it took 32 weeks of work to pay for an equivalent model. A decade ago it took 37 weeks.

A Holden Commodore Executive V6 auto costs 27.9 weeks in average wages, down from 31.8 weeks four years ago and 37 weeks a decade ago.

CommSec's Savanth Sebastian said wages growth off the back of the mining boom had driven up affordability.

While pay packets were easing, car manufacturer competition was expected to help contain future prices.

CommSec's research found that a BMW 318i four-door auto was worth 41.4 weeks of work for an average earner now, compared with 55.2 weeks a decade ago.For those with plenty of cash, a Porsche Boxster will set you back 72.8 weeks' worth of average wages. That compares with 121.5 weeks in 2004.