The monthly payments made by people who have purchased a new vehicle hit a record high in May, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. Though a 0.3 percent growth in median income supported vehicle affordability, all other factors moved against affordable pricing in May, a June 15 report detailing the index stated….
Estimated Monthly Car Payments Hit All-Time High of $712 Amid Rising Interest Rates, Low Inventory
June 16, 2022
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Business & MarketseconomyinflationInflation PressureMarketsnew car pricespersonal financepre-owned carsUSvehicle inventory
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