Better to Buy Used Cars in Most Major Cities

A new study by Interest.com has found those living in the largest metropolitan areas of the US such as San Francisco, Boston, and New York City - may not be able to afford a new car.

Detailed on Cars.com, the study concluded that out of the 25 largest metro areas in the US, only median-income households in Washington, DC can afford an average-priced new car, based on a 20% down payment, financing for no longer than four years, and principal, interest and insurance totaling no more than 10% of a household's gross income.

DC residents can afford a median monthly new car payment of $628 per month. After Washington, DC, are San Francisco, Boston, Baltimore and Minneapolis to round out the top five metro areas.

And the least likely area to afford a new car? Tampa, where residents are only able to afford an average monthly payment of $282. Regardless of what city you live in, I always recommend you use the free RydeShopper to get the biggest discounts on any new vehicle.