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CNN New Day Weekend With Christi Paul and Boris Sanchez June 4, 2024 12:22:00

New car hit $712. that s a new record high. is that just because of inflation? or is it that consumers just have more cash and they re opting for more expensive vehicles? well, because the automakers have fewer computer chips, they are allocating those to more expensive models than the less expensive ones. so that s bringing the average up. interest rates on car loans are up, so that adds to the monthly payment. so there are there s a confluence of factors that are coming into play that are pushing that monthly payment up over $700 a month on average. and conversely, michelle, it s probably a good time if you re looking to sell your vehicle, right? what advice do you have for owners that might be looking to opt to something different? absolutely. used vehicle prices are high. and so if you can live without your vehicle, you know, sell it. make a profit. ....

Interest Rates , Computer Chips , Car Loans , Vehicle Prices ,

CNN CNN Newsroom With Fredricka Whitfield June 4, 2024 17:49:00

$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 ....

Payment Average , Kelly Blue Book , Car Prices , 12 6 , 10 1 , 716 1 , Gas Prices , Southern California , Car Dealership , 48 7 , Interest Rates , Borrowing Money ,

CNN CNN Newsroom With Pamela Brown June 4, 2024 22:07:00

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 ....

Car Prices , Payment Average , Kelley Blue Book , Jessica Snyder , Gas Prices , 48 7 , 716 1 , 12 6 , 10 1 , Interest Rates , Car Dealership , Southern California ,

CNN CNN Newsroom With Fredricka Whitfield June 4, 2024 16:07:00

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%. ....

Haven T , Four Wheel Drive , Payment Average , Kelly Blue Book , Car Prices , 12 6 , 716 1 ,

CNN CNN Newsroom With Pamela Brown June 4, 2024 22:06:00

Record gas prices are not the only shock for american drivers. if you are shopping for a car, you are facing factors pushing prices up. we are in los angeles with a closer look at this and the average monthly car payment hit a record $712 a month. what are the factors behind this? reporter: jessica, supply is low and demand is high. that goes for affordable vehicles, luxury vehicles and anything in between. right now, the average for a new car is at $47,000. if you will buy a used car, you need to have at least $20,000. that is the average. experts do not expect those numbers to go down. those that i talked to said even if you are a good negotiator, you likely will not get a discount. this year is the wrangler four-wheel-drive.. this is the new jeep. it was a necessity he says and ....

Record Gas Prices , U S , Car Payment , Los Angeles , Jessica Snyder , Four Wheel Drive ,