New-Car Affordability Better But Still Worse Year-Over-Year
Multiple factors drive down purchase costs, which is still well above what most households can afford.
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Multiple factors drive down purchase costs, which is still well above what most households can afford.
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.
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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