What is the average price of a new car?

ngpf.org 10/31/24

Q:

BUYING A CAR

QUESTION OF THE DAY

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$48,397

A:

QUESTION OF THE DAY

Source: Kelley Blue Book

BUYING A CAR

FOLLOW-UP QUESTIONS

1. Why do you think the average price of new cars is so high?
2. How would you budget for buying a car? Consider the down payment, monthly payments, interest rates, insurance, and maintenance costs.
3. New cars often depreciate (go down) in value once they are driven off the lot. How would this impact your decision to buy a new car versus a used car?
4. As a young adult, how might the cost of buying a car influence your decisions about work, transportation, housing, or other major expenses?