AvtoVAZ has just launched its latest model, the Aura business sedan, but analysts have calculated how many months Russians have to work to buy it.
Lada Aura is one of the rare novelties that was really produced by its own forces and not assembled from Chinese parts, like, for example, Moskvich, so many people had an interesting question, how long should you 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, in order to afford a car worth 2.6 million rubles (24,500 euros) – that’s how much the Vesta-based Lada Aura business sedan will cost – average-income Russians will need almost 32 months, writes the mentioned publication.
True, in order for this to happen, the entire earned salary would have to be returned, so a more realistic period is approximately 60 months or five years.
The differences between the regions are significant, for example, the residents of Chukotka, where the highest average income is recorded – 179,300 rubles (approximately 1,700 euros), the newest Lada would accumulate the fastest, while in Moscow with 144,100 rubles (1,360 euros) it would take longer – respectively 14.5 and 18 months.
Recently, CarVertical conducted a study to find out how many months in European countries – including Latvia – you have to work in order to be able to buy a used car with an average salary. The study revealed that the ability to afford a car differs significantly from country to country.
After studying the used car market in 23 European countries, it was discovered that in general, to afford a used car at an average price, it is necessary to work for almost 10 months. For many drivers, the purchase of such a car can be challenging.
Of the 23 countries included in the study, Latvia ranks 16th. Respectively, the ability to afford 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, similar to their neighbors – Lithuanians. However, it may also take longer, because not everyone can save their entire salary every month – even in households with several earners.
Financial experts generally recommend not spending more than six months’ salary on a car. However, car buyers in most of the studied countries ignore this advice and go for more expensive vehicle models.
Portuguese motorists from the studied European countries 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 to them are the Germans – 6 months, and the Swiss – 6.1.
The ability to afford a car differs significantly from country to country
According to the data of the Latvian Financial Industry Association, the average loan amount for the purchase of a used car in Latvia is 7,500 euros, while the average salary is 1,100 euros. Given that drivers often lease more expensive vehicles, cheaper alternatives may not be included in the study. 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 approximate lowest 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 need to work for at least 18.4 months.
The highest average price of a used car is in Switzerland – 39,000 euros. However, the average salary in Switzerland is also the highest among the countries examined in the study – 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 a similar amount of money on a car, the average salary for the two countries is drastically different. In Austria it is 2,600 euros, while in Portugal – less than 1,100 euros.
Ukraine is in a similar position to Latvia, with the average price of a used car at 5,000 euros, and Finland – 8,000 euros. In the mentioned countries, the purchasing power differs drastically. The average salary in Ukraine is 394 euros, while in Finland – more than 2900 euros.
Some motorists might 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 on sale may have fake odometer readings or even masked damage.
Stability can be observed in the trade of used cars
Mats Buzelis, car industry expert of “carVertical” company, states that the used car trade has recovered, it is no longer stagnant, and the market situation has improved compared to last year. As the sales of new vehicles improve, slightly used vehicles that have been in the hands of one owner appear on the used car market, increasing the options for buyers.
“It can be observed that the used car market is stabilizing across the European continent. Used car prices are gradually decreasing as the supply catches up with the demand. Finally, those people who wanted to sell their cars to buy a new one can do so. You don’t have to wait for years to buy a new one vehicle,” explains “carVertical” representative Mats Buzelis.
Research methodology
“carVertical” research examines and ranks 23 countries in descending order, depending on the time needed to be able to afford a used car. These data were obtained based on the average car price and salary in each of the countries. The average price of a used car in each country is calculated based on publicly available information in the media, statistics of advertisement portals, data provided by “carVertical” cooperation partners, as well as information from state institutions for 2023 and 2024. The average salary in each of the countries was obtained from the “Numbeo” portal. The study was conducted from June to July 2024.
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How Many Months of Ramen Do You Need to Buy a Lada Aura?
Well, well, well! AvtoVAZ has rolled out its newest baby—the Lada Aura business sedan. And guess what? Analysts have popped out their calculators to determine how long Russian workers need to save up to snag one of these beauties. Spoiler alert: it’s longer than your typical New Year’s resolution lasts!
Now, when you hear “business sedan,” you might think of high-powered meetings and deals that could make Donald Trump weep—but in Russia, it seems you’re just more likely to need a potato in your pocket. With an eye-watering price tag of 2.6 million rubles (or 24,500 euros for the Euro crowd), at an average salary of 80,000 rubles (750 euros), you’re looking at two and a half years before you can step inside that shiny interior. And that’s assuming no one hits the ‘spend-it-all-now’ button in the meantime!
Truth be told, this dream could extend to around 60 months—yes, five years—if you want to save up and not give all your hard-earned cash away to the Lada gods. Meanwhile, in Chukotka, a region noted for sky-high salaries, folks can cozy up to their new Lada in a breezy 14.5 months. Meanwhile, Muscovites? You’re still averaging a whole 18 months. Talk about city living getting in the way of sedan dreams!
And here’s where things get really interesting. If we’re looking at Europe, a recent study by CarVertical informs us that to snag a used car (not even the latest luxury model—but rather something that may still have that new car smell, if you squint hard enough), you’ll need to work nearly 10 months across 23 European countries. Latvia seems to be relatively spry, only needing about 6.9 months of hard graft to bag a used car. And bless those Lithuanians—they’re in the same boat!
But here’s the kicker: financial experts suggest sticking to a six-month salary limit when buying a car. Clearly, people are treating that advice like a diet at a birthday party—just too hard to resist! Even in Portugal, where it takes an astonishing 22.4 months to afford a used car, it seems drivers still have a penchant for “just one more slice” of vehicle!
If you’re in the market for something premium like a BMW or a flashy Volvo, be prepared to cough up quite a few months of your salary! In Latvia, for those wanting a BMW 3 series, you’re looking at 17.5 months of saving up—question is, will you still be able to afford the fuel after that? And don’t even get me started on the hidden costs of used cars—odometer smudges and damage that could make a bad horror flick seem tame!
Mats Buzelis, our friendly neighborhood car expert, says the used car market is showing signs of life again! So you don’t need to hold your breath as long as you waited for the next Star Wars film. The prices are dropping, making it slightly less painful to part with your dough. And yes, before you know it, you might even find a car from a single owner! Look at us getting fancy!
So, folks, whether you’re dreaming of a Lada Aura, getting distracted by a BMW, or still hilariously trying to piece together a five-year plan for it all, just remember: buying a car is like dating. You may think it’s love at first sight, but there’s always paperwork, hidden costs, and a long wait before you finally get that sparkly purchase home!
Now, as we part ways, let’s raise a toast—be it with a glass of champagne or a cup of ramen—to the dream of owning our very own set of wheels. Because at the end of the day, the best journeys—much like jokes—are best shared with good company!
