The Average Car Payment Is Now An Incredible $551 A Month!

The average new car payment is $551 per month, that is up ten percent compared to three years ago. Car buyers that bought or leased cars back in 2016 are getting some sticker shock and that is leading to some of them putting themselves into dangerous financial situations.

A report from USA Today, citing Kelly Blue Book, Edmunds, and The Public Interest Group, paints a picture of 2019 car buyers falling into a potentially dangerous “monthly payment” trap with increasing payments and transactions prices for new cars. The problem with the report, just like the myopic financial advice from professional millionaires, is that these experts are focusing on the wrong issue.
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countguy - 3/7/2019 12:11:05 PM

+5 Boost

Doesn't really tell us much. Need to know the income level of the group.

MDarringer - 3/7/2019 7:13:31 PM

0 Boost

#correct

PUGPROUD - 3/7/2019 2:47:06 PM

+3 Boost

All car prices are on the rise due to more technology, wider model ranges that need development/replacing and significant funding required to bring out a full EV line. The future is being funded by the present.

wilfred - 3/7/2019 6:17:57 PM

+3 Boost

I think manufacturers are just cashing in on the SUV crazes. Compact SUVS are easily $30 & over, it wasn’t that long ago they were in the low to mid $20s....

While a basic Camry can be had for mid $20s, nicely loaded full size truck for $50-60k, or even a S class for $100-120k. These prices haven’t changed much for like 20 years!

supermoto - 3/7/2019 6:53:38 PM

+5 Boost

Half the people in big cities pay more for coffees each month.

MDarringer - 3/7/2019 9:10:19 PM

-1 Boost

Indeed. $551 a month on a buy isn't that terrible.

MDarringer - 3/7/2019 7:14:08 PM

+2 Boost

The amount per month isn't the shocking value. It's the number of months in a contract that is shocking.

valhallakey - 3/8/2019 1:47:51 AM

+3 Boost

Maybe it is just inflation. $551 today is the equivalent of $180 in 1980...

OneOfOne - 3/8/2019 10:04:32 AM

+2 Boost

the payment isnt the issue since its just another useless stat. its the sub prime market that is the issue. if that 551 is going to some garbage american hooptie or some crap used luxury vehicle that a scrub is trying to boost their image with its not going to have a happy ending as history has shown. context is the key when trying to post something relevant tesla spies.