By on July 6, 2017

Chevrolet Silverado purchase GM dealer - Image: GMALG says new vehicle prices averaged $32,900 in June 2017, up 2 percent from last year and a record high for the month of June.

Yet month after month, for six consecutive months to begin 2017, automakers are witnessing fewer and fewer buyers walking into dealers after sales shot to record levels in calendar year 2016.

Incentives, at $3,550 per car, are an effective lure. But that doesn’t change the fact that buyers are paying, on average, $33,000 and borrowing, according to Edmunds, $31,000 in order to finance a purchase.

How do car buyers afford the highest prices on record? By stretching the payment period to the longest terms ever: 69.3 months in June, Edmunds says. (Read More…)

By on May 31, 2017

Bright colors and lowered prices try to attract customers to a California used car lot, Image: Bike Tourist/Bigstock.com

The low, low monthly payments offered by spreading the cost of a new or used vehicle across a vast gulf of time is certainly an attractive one, even though the practice is fraught with hidden danger.

For U.S. car buyers, it has also become a very popular one, with data showing just how many people have decided to embrace a 73- to 84-month payment plan. Not only are their spending habits changing, they’re also changing their lender. (Read More…)

By on February 4, 2014

unnamed

TTAC commentator supremebrougham writes,

For the first time in a long time, I am 100% debt free, and it feels great! It’s so great that I have decided to try and keep my car going for a while yet, instead of trading it for a new one. (Read More…)

Recent Comments

  • mikedt: What’s the saying…something like…Europeans think 100 miles is a long distance and Americans...
  • pmirp1: This is why I pretty much insisted my daughter buy Tacoma. There is a certain cheapness in Nissans nowadays...
  • pmirp1: Let’s see inflation is high, Fed is signaling raising rates, and yet, Branden wants to give people more...
  • MitchConner: If I got an invite my response would be something along the lines of “sorry, got to oil my...
  • FreedMike: @redapple: He had a BUNCH of issues. I think his car’s electrical system suffered from demonic...

New Car Research

Get a Free Dealer Quote

Who We Are

  • Adam Tonge
  • Bozi Tatarevic
  • Corey Lewis
  • Jo Borras
  • Mark Baruth
  • Ronnie Schreiber