Cost Of Cars Skyrocketing

Ballooning auto payments are making vehicles increasingly unaffordable. For the first time ever, the average price for a new vehicle topped $48,000 in June. That’s nearly a 13 percent increase from last year, according to industry reports. Now, more drivers than ever are spending at least $1,000 on their monthly car payments, which will go up even more if the Fed raises interest rates again.

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