If you’re in the market for a car, you might be experiencing some sticker shock.
The current average price of a new car is around $50,000, with a typical monthly payment of around $750.
Cox Automotive said more than 60% of new car buyers earn more than $100,000 per year, and they’re anticipating a slight drop-off in sales this year.
If you’re looking for a used car, prices are expected to rise about 2% this year -- that’s a historically stable rate.
All of this is coming off the National Automobile Dealers Association Convention in Las Vegas, where dealers had some concerns.
Cox Automotive Executive Analyst Erin Keating joined Local 4 Live to talk all about it. You can watch the full interview at the beginning of this article.