What is the Average Cost of a New Car?

The automotive sector is facing an unprecedented supply and demand challenge, with pre-owned vehicle prices soaring nearly 30 percent. This sharp increase in used car prices has significantly driven inflationary pressures this year. However, there are signs that these price hikes may be starting to stabilize, offering important insights into the future trajectory of inflation.

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If you're in the market for a new vehicle, you might be wondering how much it will impact your budget. The final cost will vary depending on the specific make and model you're considering. If you plan to finance your purchase, it's also crucial to look into average interest rates to understand the overall expense.