Car payments are accelerating towards record levels nationwide. Analysts at Edmunds revealed that the average percentage rate on a newly financed vehicle has ballooned to seven percent. NBC News’ Miguel Almaguer has more details.
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I'd rather go on a nice vacation and have great holidays than have a new car for some to hit or steal it 🤔
cuz they successfully got you from owning a home to the renting now they want everyone leasing a car instead of buying
I drive a 2011 crown Victoria 70k on it it’s a keeper paid cash the only way to go.
the costs are skyrocketing because customer is willing to pay. i'm driving my '11 accord and still great with 160+k, people need to learn to live with older and with less. could i afford a brand new $50k car yes but i choose not to do that.
Don’t buy cars
Do not wait for the rates
Don’t buy
Cars anymore
Don’t buy 🎉🎉🎉🎉
That's why you don't buy new!!! Always go for the used car.
"We're not in a recession"
Yet, mortgage rates have tripled
Car prices have tripled
Rental rates have sky rocketed
Fortune 500 companies are laying off in the 10s of thousands
Yup
Everything is fine guys. Nothing to see here. Our economy is the strongest it's ever been.
NBC no kidding this is old news
Perfect credit will get me 7% APR. GTFOH! I'll take public transportation.
Just from a matter of principle alone I will NOT pay $50,000 for a vehicle that should be 10-15 thousand less. Peace of mind beats stress 10 times out of 10!!!
I got lucky with my 17 Elantra right before the Pandemic. Paid 7k with 9k miles on it, Rebuilt tho, but no issues
Stop buying stuff you can't afford. Best advice given to me by an old man.
I like that fact that it's still going to take some time for ppl to see they are getting ripped off.
Car edge / yaa on YouTube have been saying this for a long long time.
I feel bad for the people paying 700+ a month for a pos car that’s worth nothing or will be worth nothing when prices go back to normal.
I paid in full cash for my car pre pandemic. Been chilling n cruising ever since 😎
Ready for revolution yet?
Our corporate masters love squeezing every dime out of us.
Let's squeeze them and see what comes out!
It’s all part of the plan folks! High profits = high taxes for the government. It’s a win win in the eyes of corporations, banks and the government.
Guess I’ll hold on to my 97 Camry with 249k miles on it for a little while longer!
Thank liberal White House policies.
Bro those greedy dealers deserve it 😂
Good luck finding used prices like they use to. It’s almost as high as new still. And don’t forget used cars APR is almost if not higher than buying new.
Stop buying unnecessary SUVs
As if it hasn't been. Again, you guys are two years late to the party!
And you still wonder why people are going crazy? Some will actually lose it.
Wow! I used to drive it was ,$10k a car max and the monthly payment was $180
..meanwhile the quality of new cars continues to go down.
Let the dealership keep them on their lots, until they make the cars economical to purchase
Ha ha ha ha ha ha 😂😂😂😂, people will lose some weight.
Average new car is $48763?
Last year it was ~$36K.
That doesn’t seem right.
Keep voting Democrats! This what happens!
Don't buy anything leave them on the lots till they drop the price
That’s insane! I can’t even afford a new car
Just pray that someone would not total your old ride. You might be tempting to get another sub $10k car again but it is harder to find nowadays that's not rebuilt, rusted out, or been into 2+ accidents.
I just bought a new Corolla 2 years ago. I’m keeping it for a long time
Electric bikes and scooter now days
Unforantly new vehicle purchases have become impulse buy rather than a need. So keep spending your money, the banks and dealerships love you.
um i just went to ford and was offered 0 percent for 72 months
End dealership mandates and open up trade to other automakers. European safety and emission standards are just as good as ours.
My 2016 Malibu has been paid off for 2 years! I’m forever grateful!! I do all scheduled maintenance on time and I have 0 problems 🙌🏽
Simply solution
BOYCOTT ALL NEW CARS AND LETS F THE DEALERS FOR ONCE!!!!
SOON THEY WILL HAVE MORE SUPPLY THEN DEMAND!!!!
It’s disgusting.
So no research into why car prices are so high and what manufacturers like GM are doing to keep the prices high?!?
I still drive my 2006 Toyota Sienna , dependable and paid for a long time ago , new cars are beautiful but way too expensive for me
Keeping my 1998 Jeep Cherokee
So sick of people driving new cars and complaining that they can't afford rent, utilities and food. Look at the local food bank parking lots,it will be an eye opener.
I know many people that have payments from 800-1100 crazy how people are OK with those payments
Roommates to car Carmates 😂😂
Everyone wants fancy new cars that’s why. I drive a Toyota matrix 2010 I got for $12k with $2k down I pay $140 a month. It drives great, fast and it is a 4wd. Why do I need a $20-30k car for?