Monthly Payments of $1,000+ for a New Vehicle Now Increasingly Common
• Payments of more than $1,000 per month are increasingly common for buyers of a new vehicle in the U.S.• When buying a new vehicle, 17.4 percent of consumers also have to finance an outstanding amount still owing on their old one.
A study conducted by Edmunds in the United States comes to some disturbing conclusions on the subject, particularly when we look at the percentage of new-vehicle owners who find themselves with monthly payments of more than $1,000. For comparison, the percentage was 10.5 percent in 2021 – which means we're talking about a 50-percent increase.
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