Financing costs prop up expense of new-vehicle ownership | Auto Finance News | Auto Finance News

Financing costs prop up expense of new-vehicle ownership

© Can Stock Photo / dmitrimaruta

Financing charges on new vehicles increased 24% year over year to a weighted average of $920 per year, according to data in AAA’s 2019 Your Driving Cost report. The increase was primarily driven by higher interest rates, rising vehicle prices and lengthening loan terms. AAA estimates that for every 12 months added to the life of […]

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