four-wheel drive. reporter: his role s new jeep. it was a necessity, he says, and a quick decision. i have another car with a lot of mileage. i needed a bigger one. reporter: the jeep was about $50,000, leaving his monthly payment is about $800. higher than the most recent kelly blue book monthly payment average at $712. this is a new record for that monthly payment. this is a new record. and then the car, the new car prices are actually near records. reporter: in the last year, new car prices have gone up 12.6%. used cars up 16.1%. food up 10.6% and gas 48.7%. but gas prices not necessarily deterring potential byers at this southern california car dealership. demand is high. supply is still low. and we re still in a shortage
$50,000 leaving his monthly payment at about $800. higher than the most recent kelly blue book monthly payment average at $712. this is a new record for that monthly payment. this is a new record, and then the new car prices are actually near records. reporter: in the last year, new car prices have gone up 12.6%. used cars up 16.1%. food, 10.1%, and gas, up 48.7%. but gas prices not necessarily deterring potential buyers at this southern california car dealership. demand is high, supply is still low, and we re still in ship shortage era. reporter: this paired with the high interest rates making it difficult for buyers. you don t see prices decreasing much, and even if they do, just keep in mind that interest rates are rising, so the costs of borrowing money is
12.6%. used cars up 16.1%. food, 10.1%. and gas up 48.7%. but gas prices, not necessarily, deterring potential buyers at this southern california car dealership. supply is low, demand high. reporter: this paired with high interest rates making it difficult for buyers. we don t see prices decreasing much and even if they do, keep in mind interest rates arizing so the cost of borrowing money is going up, that means you re still going to be paying as much or nearly as much as you were even if those prices go down. reporter: car, home and student loans all higher. interest rate osa 30-year fixed mortgage jumped to 5.78% in the last year. this is how it looks.
a quick decision. i needed a bigger car. the jeep was about $50,000 leaving his monthly payment at about $800, higher than the most recent kelley blue book monthly payment average at $712 .. this is a new record for the monthly record. the new car prices are near records. reporter: in the last year, car prices have gone up 12.6%. used cars are up 16.1%. food is 10.1% and gas up 48.7%. gas prices are not necessarily deterring potential buyers. this is at the southern california car dealership.. demand is high and supply is low. we are in a shortage. reporter: this peers with high interest rates making this
for a used car, it s at $28,000. and the experts that i talked to told me these numbers are especially hard and shocking for people who haven t bought a car in se five or ten years. this here is the rambler, four-wheel drive. this roland s new jeep. it was a necessity, he says and a quick decision. i had another car. it was out of mileage, and i needed a bigger one. reporter: the jeep was about $50,000, leaving his monthly payment at about $800. higher than the most recent kelly blue book monthly payment average at $712. this is a new record for that monthly payment. this is a new record, and then the new car prices are actually near records. reporter: in the last year, new car prices have gone up 12.6%. used cars up 16.1%.