According to a market study on used cars conducted by the company carVertical, Serbian citizens need an average of 14.7 monthly salaries to purchase a used car of medium category. This study, which covered 23 out of 44 European countries, provides insight into living standards across different parts of Europe.
This research does not imply that every Serbian can buy a car after just over a year of work, as people need to cover living expenses as well. However, the average salary serves as a good indicator of the standard of living on the continent.
When it comes to the time needed to buy a used car, the Portuguese and Romanians are at the top of the list, as they need 22.4 and 15.4 months of salary, respectively.
At the other end of the spectrum, Finns need only 2.7 months of salary to afford a used car. Germans require exactly six months of salary, and Swiss citizens need 6.1 months. In neighboring countries to Serbia, people need less time to buy a car—Hungarians need 11.2 months, and Croats need 11.7 months.
Serbians opt for cheaper cars
“Financial experts generally advise against spending more than half of an annual salary on a car. However, in most of the surveyed countries, car buyers do not follow this rule but opt for more expensive models,” states the carVertical report.
The average salary in Serbia is 679 euros, and according to the Polovni automobili website, Serbians typically spend around 9,981 euros on a used car.
Switzerland tops the list with an average used car price of nearly 39,000 euros. However, the average salary in Switzerland is the highest among the surveyed countries, amounting to 6,377 euros.
Following the Swiss are the Austrians, who spend an average of 28,500 euros on a car, while the Portuguese spend slightly less—24,200 euros. Despite similar car budgets in Austria and Portugal, salaries differ significantly: 2,600 euros in Austria compared to less than 1,100 euros in Portugal.
The least money spent on cars is in Ukraine (nearly 5,000 euros), Latvia (7,500 euros), and Finland (8,000 euros). These countries vary significantly in purchasing power: while the average salary in Ukraine is 394 euros, in Latvia it is 1,100 euros, and in Finland it exceeds 2,900 euros.
