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IPFS News Link • Economy - Economics USA

The Way it Was it Will be Again

• by Eric

Anyhow, we're almost there again.

While not coach-built, new vehicles are becoming so expensive again that – inevitably – only a few will be able to afford them, soon.

You may have heard that last year, the average price paid (the so-called "transaction price") for a new vehicle was about $45,000 – an all-time high. It does not mean that one could not buy a new car for much less; it means that lots of people didn't – chiefly because they could finance more car – which they could because of low interest rates. But interest rates are no longer low and headed higher; this will result in fewer people being able to finance – ending the fiction of affordability.

At the same time, there are fewer and fewer vehicles left that do not cost $45,000 – or a lot more.

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