Financing new car has reached new record at $656 per month

Rev 6:6 NAS “And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”

Important Takeaways:

  • Cost to finance a new car hits a record $656 per month — and auto shoppers could pay even more with latest Fed rate hike
  • New car prices are up 12.6% from a year ago and used car prices are up 16.1%, according to government data.
  • The Federal Reserve’s latest interest rate hike of 0.75 percentage points will push up the cost of getting an auto loan.
  • Here are some tips to help keep the cost of buying a car down.

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