Considering purchasing a vehicle? Here’s what automotive experts believe you should know.
Individuals spend a great deal of money on trucks and vehicles. In actuality, transportation expenses, including gasoline and car payments, account for around 16% of the average American household's entire budget. This places it above of incidentals like food, education, and retirement savings, but ahead of housing as the second-biggest expense.
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The cost of the purchase might be daunting, particularly for younger, first-time purchasers who often have less saved up and less established credit histories.
And it becomes worse in the current market.
As of the end of 2021, the average price of a new automobile, including sedans, crossovers, vans, pickup trucks, and SUVs, was over $47,000, up over 25% in only two years, according to Kelley Blue B...