A financial study released this year laid it all out for U.S. consumers: the average American will spend about $3.3 million in their lifetime. As you might guess, certain sweat-inducing expenses take up the majority of that number. Cars are one of them.

One item demands nearly half of all lifetime spending. Housing tops OneFinancial’s list, clocking in a $1,486,160 lifetime spend.

Cars placed second. According to the study, if the average American buys their first car at age 17 and then purchases a different vehicle every six years, they’ll own about 10 cars in their lifetime. As such, the associated total costs of driving in the U.S. are somewhat staggering: $470,000.

For perspective, this is about the same as what the average American will spend on their children.

We’ve continuously reported on several contributors to the (arguably harrowing) expense of new cars and general vehicle ownership in the U.S. In Louisiana, for instance, a car insurance “cost crisis” is in full force, with the average full-coverage policy ringing up at over $3,600.

The average American new car payment is $723 (LendingTree), while 82% of Americans feel they can’t afford a new car. In turn, 40% of vehicle shoppers are checking out used cars exclusively (Consumer Reports survey).

What’s more, according to the Bureau of Labor Statistics, even used vehicles cost over 20% more than they did in 2019. To me, that means that a 2024 study could quickly age, and soon underestimate vehicle ownership costs moving ahead.

However, I’m seeing an undercurrent here that’s “questioning” the American identity as it relates to cars.

Soon, I think, it could bubble up to the surface, expressing itself in smaller, more efficient, cheaper vehicles entering the U.S. scene, “American” or not. Or, will Americans continue to care about or for cars in general? Certainly, the shift could come with less “personality,” in some drivers’ opinions. I’m more optimistic; style should transfer over, right?

In any case, what’s simmering is really pretty simple: considering all, Gen Z can’t afford most of what automakers offer today. To boot, costs of ownership outside the initial purchase price are steeply rising, including more and more of what’s left in the “affordable used car” pool getting totaled from collisions with larger, heavier SUVs and trucks.

Time will tell if the half-million-lifetime vehicle spend will grow or be “organically” controlled down after most Baby Boomers stop driving. I just don’t see Gen Z’s general disgust for huge, gas-guzzling debt generators changing. In the end, if Gen Z can’t afford to own cars, they’ll just stop loving them, which means they won’t care about, well, anything entering the scene if it’s out of reach. And why should they?