fromstupidDOPE | Est. 2008
2 months agoSeven-Year Car Loans Show How Expensive Buying a Vehicle Has Become | stupidDOPE | Est. 2008
The cost of owning a new car in America has reached a staggering milestone. With inflation, tariffs, and interest rates all converging, the average price of a new vehicle has surged to nearly $50,000, according to Bloomberg. For many drivers, that price tag feels out of reach unless payments can be stretched across longer time frames. As a result, the seven-year car loan is no longer unusual - it's becoming the new normal.