That's actually shocking. I've been in tech for 15+ years and have a good income. I've only recently purchased a new car instead of used, and with a monthly payment right by my state's average. Prior to this I never had a payment more than $250/mo.
Though with gas, maintenance, insurance on top of the car payment, that $700 is probably the floor of car ownership.
Those will vary vastly depending on where you live. Gas and insurance are high where I live, and even though the environment is harsh on cars (winters with salt), maintenance has never been much.