Photo Credit: iStockBuying a new car is starting to look less like a routine purchase and more like a financial endurance test. As sticker prices climb, the low-cost new vehicle is fading fast, pushing many buyers into longer and riskier loans just to keep up, as The San Diego Union-Tribune reported.What's happening?In an analysis of the latest Edmunds.com report on the car market, the Union-Tribune noted that to keep monthly payments within reach, buyers are increasingly being funneled toward longer loan terms, as new vehicle prices and used car prices continue to rise. In places where a car is essential for work, school, and daily life, that has made an affordable new model much harder to find, as the Union-Tribune noted. The affordable car of years past is now a relic, according to Edmunds' Ivan Drury, a co-author of the report.AdvertisementAdvertisement"It doesn't exist," Drury stated bluntly to the Union-Tribune.This shift in the market has made basic transportation less of a focus, the paper observed. Many automakers now emphasize larger vehicles, upgraded trims, and features with better profit margins, Edmunds.com's analysis found."These things that were 'wants' back in the day are now 'needs,'" Drury told the Union-Tribune.While the monthly payment is often the figure highlighted in advertisements, the total cost can be much higher. Longer loans may shrink that monthly bill, but they also increase the total amount paid, especially once interest is factored in, CNBC reported.Why does it matter?Transportation is not optional for most households. When the cheapest new cars disappear, people who need reliable vehicles are left with a difficult choice: buying used in a tight market, taking on a larger monthly payment, or committing to a longer loan.AdvertisementAdvertisementThat can leave drivers underwater, owing more on a vehicle than it is worth for much of the loan's life.It also reflects a broader business pattern that tends to hit everyday consumers the hardest. Companies often chase higher profits by moving upmarket, then rely on financing to make increasingly expensive products look accessible, as Jalopnik revealed. Drury wondered if that was a mistake by automakers."Yes, you're selling $70,000 SUVs today but will you in 10 years when you never even made an attempt to grab somebody when they were out of college?" he asked the Union-Tribune.For people already dealing with high housing, insurance, and fuel costs, another major expense being pushed out of reach can send ripple effects through an entire household budget.What's being done?There is no quick fix, but there are a few ways consumers can protect themselves. One is to focus on the full purchase price and the total interest paid, not just the monthly payment. AdvertisementAdvertisementFor working families, the bigger issue is a market with too few true entry-level vehicles and too much reliance on financing to make high prices seem manageable. When automakers prioritize higher-margin inventory instead of lower-cost models, they can price many households out of the market.There are lower-cost options, the Union-Tribune noted. SlateAuto is now offering a truck for under $25,000, and while they are a bit of an endangered species, there are a few mainstream options like the Honda Civic and Mazda3 kicking around at the same price point.Get TCD's free newsletters for easy tips, smart advice, and a chance to earn $5,000 toward home upgrades. To see more stories like this one, change your Google preferences here.