Paying for a New Car Now Costs More Than Ever

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Rising inflation has spared few consumer needs — including new vehicle costs requiring a bigger chunk of Americans’ budgets than ever.

KEY TAKEAWAYS

  • Average monthly new car payments have surged 28% in the past three years.
  • That increase, plus soaring prices for new models, haven’t kept sales from rising substantially this year.
  • Falling dealer profits, labor strife and entrenched borrowing rates mean consumers won’t soon get a budget break on new cars.

In a country where…

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