Lower-priced new cars are gaining popularity, and not just for cash ...

Oct 22, 2024 · To buy a new car at that price, an average buyer would have to spend $737 a month, if financed at today's average loan rate of 7.1%, for just under six years before the …

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Lower-priced New Cars Are Gaining Popularity, And Not Just For Cash ...

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Oct 22, 2024 · To buy a new car at that price, an average buyer would have to spend $737 a month, if financed at today's average loan rate of 7.1%, for just under six years before the …

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Lower-priced New Cars Gaining Popularity - The Mercury News

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Oct 22, 2024 · Lower-priced new cars are gaining popularity, and not just for cash-poor buyers ... To buy a new car at that price, an average buyer would have to spend $737 a month, if …

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Here's Why The Used Car Market Is Getting Cheaper - HotCars

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Jan 26, 2025 · According to CarEdge, the average price for a new car is $48,978 in January 2025. New car prices have remained near record highs since 2022, slowly increasing. While there …

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Lower-priced New Cars Are Gaining Popularity, And Not Just For Cash ...

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Oct 21, 2024 · To buy a new car at that price, an average buyer would have to spend $737 a month, if financed at today’s average loan rate of 7.1%, for just under six years before the …

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FAQs about Lower-priced new cars are gaining popularity, and not just for cash ... Coupon?

Will lower car prices slow the auto industry?

With buyers confronting inflated prices and still-high loan rates, sales of new U.S. autos rose only 1% through September over the same period last year. If the trend toward lower-priced vehicles proves a lasting one, more generous discounts could lead to lower average auto prices and slowing industry profits. ...

Are lower-priced new cars gaining popularity?

Lower-priced new cars are gaining popularity, and not just for cash-poor buyers News Today's news US Politics World Tech Reviews and deals Audio Computing Gaming Health Home Phones Science TVs Climate change Health Science 2024 election Originals The 360 Newsletters Life Health COVID-19 Fall allergies Health news Mental health Relax ...

Why are automakers lowering sales prices?

Under pressure to unload their more expensive models, automakers have been lowering the sales prices on many such vehicles, largely by offering steeper discounts. In the past year, the average incentive per auto has nearly doubled, to $1,812 US, according to Edmunds, an online automotive resource for consumers. ...

How much does it cost to buy a new car?

To buy a new car at that price, an average buyer would have to spend $737 a month, if financed at today’s average loan rate of 7.1%, for just under six years before the vehicle would be paid off, according to Edmunds.com, an auto research and pricing site. For many, that is financially out of reach. There was an error loading the promotion. ...

Should you buy a new car if you can't afford it?

The trend is being led by people who feel they can no longer afford a new vehicle that would cost them roughly today's average selling price of more than $47,000 US — a jump of more than 20 per cent from the pre-pandemic average. Yet there are other buyers who could manage the financial burden but have decided it just isn't worth the cost. ...

How long will the preference for lower-priced cars last?

How long the preference for lower-priced vehicles may last is unclear. Charlie Chesbrough, chief economist for Cox Automotive, notes that the succession of expected interest rates cuts by the Federal Rates should eventually lead to lower auto loan rates, thereby making larger vehicles more affordable. ...