Cars
fromInsideHook
1 day agoBuying a New Car Used to Be a Given. Now It's a Luxury.
New cars have become luxury goods as average transaction prices exceed $50,000, while total cost of ownership and rising costs widen economic disparities.
The cost of owning a new car in America has reached a staggering milestone. With inflation, tariffs, and interest rates all converging, the average price of a new vehicle has surged to nearly $50,000, according to Bloomberg. For many drivers, that price tag feels out of reach unless payments can be stretched across longer time frames. As a result, the seven-year car loan is no longer unusual - it's becoming the new normal.