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Posts Tagged ‘buying a new car’

New Cars Becoming Unaffordable, Study Claims

Living in a major city can make vehicle ownership tough.

by on Jun.30, 2016

A new study says that today's families cannot afford the vehicles designed specifically for them, such as the Chrysler Pacifica.

If you live in one of the top 50 U.S. cities, it’s unlikely you can afford to buy a new vehicle, according to a new research study. believes that a median-income household cannot afford the average priced new car or light truck in any of the 50 largest cities in the country. The average price of a new car or light truck in 2016 was $33,865, according to Kelley Blue Book.

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“People are spending far too much money on their cars,” said Steve Pounds, personal finance analyst at “There are many safe, affordable and stylish options on the market for people to choose from that won’t cut into more important budget items; such as college funds and retirement savings.” (more…)

With a Few Exceptions, Automakers Deliver Another Strong Month

Transaction prices set all-time record.

by on Apr.01, 2016

Nissan set a new record for March sales with this year's tally. Overall, sales were up across the board for automakers last month.

While there were a few signs of weakness, the U.S. auto industry managed to keep its sales momentum going in March, the industry delivering a number of new records, notably including the price American buyers paid for their new vehicles last month.

Though industry giants Toyota and General Motors ran into some strong headwinds, delivering only modest, year-over-year increases, other automakers, including Ford, Fiat Chrysler and Honda, posted strong gains for March, Nissan sales reaching an all-time record. Audi, among European makers, reported its 63rd consecutive monthly increase even as the sibling Volkswagen brand continued to feel the impact of its diesel emissions scandal.

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The strong industry performance continued to reflect a surge towards SUVs, crossovers and other light-truck models that now collectively account for about three of every five vehicles sold in the U.S., with little indication recent rises in fuel prices will slow that momentum. (more…)

US Automotive Sales Boom to End in 2017

Tightening credit, more Millennials likely to shrink purchases.

by on Oct.14, 2015

Automakers have at least one more year of robust auto sales, including the likelihood of a new record, before sales begin to slide, according to IHS.

What happens after next year? “Pull back.”

At least that’s the word from IHS Automotive, which believes that U.S. auto sales will continue to strengthen through 2017 until a convergence of events begins to stifle new car and truck sales.

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“We do see headwinds starting to form,” said Charles Chesbrough, IHS senior economist, during the company’s global outlook. (more…)

Auto Sales Booming – But Are Automakers Pricing New Cars Out of Reach?

Even economy cars now require a 6-figure household income level.

by on Jun.10, 2015

Ne vehicle sales are booming, but middle class salaries are stagnating at the same time. How long will the good roll with this conundrum?

A half-decade after plunging to its lowest levels in a half-century, the U.S. new car market is in the midst of a major boom. Repeatedly countering skeptics, Americans keep buying more and more new cars, trucks and crossovers, and a new Bank of America study suggests we could see an all-time sales high of 20 million by 2018.

Car manufacturers already are taking in record revenues. All told, U.S. buyers spent $52 billion for their new vehicles in May, as the price of the typical vehicle surged to $32,452, up 4% from May 2014, according to At a time when the American middle class is suffering from income stagnation, that may come as a surprise. Buyers are finding workarounds, among other things, stretching their car loans out to record levels. Others, however, are abandoning the new car market in favor of “nearly new” certified used car programs.

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That’s leading some skeptics to wonder whether the sales boom can continue at a time when many automakers are raising prices at well above the rate of inflation, stretching already strained middle-class budgets. With traditional low-cost brands like Hyundai and Kia moving up-market, could that create an opening for a new generation of entry-priced offerings from China’s ambitious automakers? (more…)

New Car Sales Booming, But Good Deals Abound points out best August offers.

by on Aug.14, 2014

Looking for a good deal this month? The Fiat 500 can be gotten for as little as $99 a month, according to

New car and truck sales are still humming along in 2014, but if you’re searching for a deal, compact and midsize sedans are the segments where you should start the hunting.

There are deals for those looking to lease or buy, especially for the Fiat 500. Right now, according to, a 2014 Fiat 500 can be had for as little as $99 a month for 24 months. It requires nearly $2,400 down. However, if you’re looking to buy, the same car can be had for $265 a month for 60 months using the $3,000 cash back the automaker is offering buyers.

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“Compact and midsize sedans are among the most popular segments in the United States, and this month consumers will be able to find red-hot deals on the Toyota Camry, Ford Fusion and Chevrolet Cruze,” said Jack R. Nerad, executive editorial director and executive market analyst for Kelley Blue Book’s (more…)

A McBlog Sidebar

The worst of time (can be) the best of times.

by on May.16, 2011

Storm clouds on the horizon? Buying some cars, like the Prius, can be a challenge right now.

Buying a car, these days, can test the patience of Job, columnist Denise McCluggage noted in her latest McBlog, yet the worst of times can turn into the best of times…with a little help. Here’s a sidebar to her column.

Fred Vang is a personal consultant to car shoppers. He lives in Santa Fe NM but his clients come from anywhere. He helps them gel their amorphous thoughts about acquiring a new car into something he can actually search for. He negotiates the deal, he handles the documentation and registration and arranges all the delivery details. In short he drains the tension out of acquiring a new vehicle and enhances the pleasures.

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In the current market that’s hard to do but his long-held connections still leave the door ajar.

Fred sees a bright spot even in a market with new models in limited supply and used cars tagged with extremely high prices. “The worst of times can be the best of times for a few,” he says. And those few are people just coming off a lease.