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At the end of 2022, the average new car cost over $49,500, and the average used car topped $26,500 as of early 2023. It is generally recommended that you cap transportation expenses at 10% of your monthly income.
Experts say that 2024 will be the best year to purchase a new car since 2019. As interest rates slowly drop throughout the remainder of the year, payments will become more manageable. Dont overlook manufacturer rate promotions, as they can save you thousands of dollars.
New Car Prices April 2024 Update ing to recent data from Cox Automotive, the average transaction price for new cars is $47,244. Thats down 2.2% year-over-year.
The average transaction price for a new car in the U.S. in February was $47,244, down 2.2% from February 2023. Thats also down 5.4% from the market peak in December 2022, ing to Kelley Blue Book.
Average price of a new and used car in US Thats down 2.4% from a peak of $48,516 set in December 2022. Though the drop is relatively modest, analysts predict that prices will keep falling this year, especially for new vehicles, as availability grows and automakers are compelled to lower prices.
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90 Years of Pricing Expertise And today theres no better place to find the value of your current car than KBB.com.
If you want a new or used vehicle, be prepared for sticker shock. For new cars, prices remain about 14% higher than three years ago when the pandemic seemed never-ending. But take stock that your next car will likely last longer and help you drive safer than ever with all the technological advances and offerings.
The accuracy of KBB values can vary depending on several factors, such as the condition of the vehicle, its location, and the current market demand for that particular make and model. KBB values are based on a number of factors, such as the cars make, model, year, mileage, condition, and features.

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