Motor1: It now takes 41.3 weeks of median income to purchase the average new car
Motor1 website reports, “New Car Monthly Payments Hit A New Record, At $712.” “In May of 2021, the purchase of an average new vehicle only required 33.5 weeks of median income, or almost 8 weeks less than the 41.3 weeks of May 2022. This massive increase in cost includes several factors.” To read the article