The Rising Costs of Car Ownership: Navigating High Interest Rates and Monthly Payments
TL;DR
A record 17.5% of new-car buyers in the third quarter paid over $1,000 a month for a vehicle, compared to less than 7% three years ago, according to automotive data provider Edmunds. This increase in monthly payments highlights a growing financial burden for car buyers.
Topics:businessautomotive#automotive#automotive-data#car-buying#financial-burden#monthly-payments#new-car-buyers
- $1,000 a Month? That’s the New Normal of Car Buying. Why That’s a Problem. Barron's
- Average Monthly Car Payments Hit All-Time High Of $736, As APRs Soar Over 7% CarScoops
- Car Buyers Are Taking Out 17% - 22% APR Car Loans Jalopnik
- Here's What It Really Costs To Own a Car in the US — And 7 Ways To Make It Cheaper Nasdaq
- Should I Buy a Car Now? How to Navigate High Interest Rates Bloomberg
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