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Cox tallies show income bumps helped offset other pressures in October.
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Interest rates increasing the costs, with no end in sight, Edmunds finds.
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New-vehicle purchases a little easier on the wallet despite high prices, interest rates.
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Cox Automotive says that though some consumers are being priced out of the market, it’s rebalancing.
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Edmunds data show how new-model prices ballooned and by how much.
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Multiple factors drive down purchase costs, which is still well above what most households can afford.
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More consumers in the prime and superprime credit tiers opted for used vehicles as concerns around affordability grew in the first quarter, according to the latest report from Experian.
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Edmunds says the average APR for a U.S. new-vehicle loan was 6.36% in March, putting dealers and consumers on the cusp of a ‘dramatic shift’ toward the used-car market.
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