Interest-rate hikes from the Federal Reserve are raising average monthly car payments despite falling prices for used cars, according to a study.
The average monthly payment for used cars is 47% higher this year, hitting $551 a month, as compared to 2019, according to analysts at Cox Automotive, a platform that facilitates faster vehicle transactions. Carvana recently reported sales of 102,570 vehicles, down from 117,564 from the third quarter of the previous year.
Cox Automotive analysts have lowered their projections of retail used vehicle sales in 2022 to 19.1 million, down almost 2 million units from last year.
ElonMusk
Buy it with a cc and get some cash back.
No shit, that’s how that works.
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