Costly Cars

The price gap between new and used vehicles is as wide as it’s been in years, pushing buyers towards used cars. New cars are bigger, come packed with fancy technology, and average almost $37,000. Conversely, a used 3-year-old car costs $23,000 despite rising due to reduced repossessions and fewer vehicles coming off rental-car fleets. In 8/18, the average new car payment was $536/month, vs. $507/month in 8/17; $463 in 8/13.