Prices, Finance Costs Increase Featured

By Staff Writer May 03, 2019 393

Rising prices and tightened credit conditions continued to place pressure on the new vehicle market in April, according to Edmunds.

The average price of a new car is expected to climb to $36,718 in April, the highest level seen so far in 2019. April also marked the fourth straight month of the year that interest rates hovered above 6 percent.

According to Edmunds data, the annual percentage rate on new financed vehicles is expected to average 6.28 percent in April compared to 5.58 percent last year and 4.4 percent five years ago.

According to Edmunds data, zero percent finance made up only 3.2 percent of financed transactions in 2019, compared to 7.64 percent in 2018 and 7.38 percent five years ago.

Rate this item
(0 votes)
Last modified on Friday, 03 May 2019 13:16