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Cox Auto: High interest rates, cost of living hurt affordability, not new-car prices

Average vehicle APRs jumped 320 basis points since 2016

Aidan Bush

Increased vehicle loan rates and insurance and additional warranty costs continue to cause car shoppers to feel priced out of the new-vehicle market, but not car prices that average nearly $50,000. New-vehicle prices have largely tracked alongside inflation, but APR has jumped in the past decade, Cox Automotive Executive Analyst Erin Keating said during a […]

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