What is the Average Cost of a New Car?

The automotive sector is experiencing an unprecedented supply and demand challenge, with pre-owned vehicle prices soaring nearly 30 percent. This sharp increase in used car prices has been a major driver of inflationary pressures this year. However, there are signs that these price hikes may be starting to stabilize, which could provide important insights into the future path of inflation.

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If you're currently in the market for a new vehicle, you might be contemplating how much it will impact your budget. However, the final price tag will vary depending on the specific make and model you're eyeing. If you're considering financing, it's also essential to explore average interest rates to gauge the overall expense of your purchase.