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"For an increasing number of drivers, that’s the reality. A record number of Americans are paying at least $1,000 a month for their vehicles, according to new findings from the auto inventory site Edmunds. Nearly 16% of car buyers who financed a new vehicle in the fourth quarter of 2022 have monthly payments reaching four figures. That share of car buyers more than doubled in two years. Even used car buyers aren’t totally safe. More than 5% of buyers who financed a used vehicle in late 2022 are paying at least $1,000 a month, according to Edmunds. That number more than tripled in two years."
As More Car Payments Soar to $1,000/Month, Here's How to Lower Yours
"Edmunds' director of insights Ivan Drury offers five key tips for consumers in the used car market. Among the suggestions: 'Don’t be afraid of the 100,000 mileage marker on your odometer,' Drury said. Because durability has improved significantly over the last decade, '100,000 is not the mileage threshold it used to be.'"
https://www.cnbc.com/2022/12/27/how-to-find-the-best-used-car-for-the-money.html?utm_source=Desktop+Reader&utm_campaign=019c3f755c-EMAIL_CAMPAIGN_2023_01_06_09_36&utm_medium=email&utm_term=0_-019c3f755c-%5BLIST_EMAIL_ID%5D
"Electric vehicles, or EVs for short, have been the hot car commodity for 2022. Their sales were up nearly 82% from 2021 and now make up 5% of the total market, according to Edmunds data. But many prospective buyers have questions and reservations about this new technology. With this in mind, here are answers to the top questions that EV shoppers at Edmunds want to know before deciding on a purchase."
Edmunds answers the top 5 questions for new EV buyers
"The Lexus RX 350 has consistently been one of the best-selling midsize SUVs and a leading model for the Lexus brand. So when a new RX is released, there’s understandably a lot of interest from SUV shoppers. The redesigned 2023 RX 350 gets a new engine, improved technology and a more luxurious interior. But is it enough to elevate it to the top of the class? The experts at Edmunds compared it to their No. 1 pick in the midsize luxury SUV category, the Mercedes-Benz GLE 350, to find out."
Edmunds: 2023 Lexus RX 350 versus 2022 Mercedes-Benz GLE
"The fleet of vehicles being discontinued includes a number of passenger cars such as the Chevrolet Spark, the Toyota Avalon and the Honda Insight, as Americans continue to flock to SUVs. 'The extra-small SUVs are definitely becoming a much more popular entry-level for these brands,' says Will Kaufman, news editor at car-research site Edmunds.
What cars are being discontinued in 2023? Honda, Toyota and Chevrolet are all axing models
"The California New Car Dealers Association estimates by the end of the year, sales will be off 9.7 percent compared to last year, lowering its projections to 1.68 million registrations for all of 2022. That’s within shouting distance of the 1.64 million registrations recorded in 2020 when COVID-19 lockdowns sideswiped the auto industry in California and across the nation."
New car and truck sales in California down 16.1% this year
"Car prices nationwide are cooling, down an average $574 according to J.D. Power from their peak in July after the supply-chain crisis made it almost impossible to buy one. NBC News’ Jacob Ward speaks with Edmunds' Director of insights, Ivan Drury, with expert advice if you're in the market."
Car prices decrease after peaking in July
"It was a close race between both vehicles, and while the Integra is fun to drive, it doesn’t quite distinguish itself over vehicles in this price range. The Mazda 3 Turbo, on the other hand, punches above its weight and wins out with its pleasing performance and value."
Edmunds: 2023 Acura Integra vs. 2023 Mazda 3 Turbo Hatch
"The average new car loan interest rate reached 5.7% in the third quarter of 2022, the highest it’s been since 2019, according to Edmunds.com. At the same time, the average amount financed to purchase a new car reached an all-time record of $41,347. The average monthly payment in the third quarter was over $700. It was $630 in the same quarter last year, and the average down payment was almost $1,000 less then, too, according to Edmunds.com."
Waiting for a better time to buy a car? Keep waiting | CNN Business
"The 2022 Volkswagen Golf GTI will delight fans with its Germanic poise and utility, but the value of the 2022 Hyundai Elantra N can’t be denied. It earns Edmunds’ vote for the superior sport compact."
Edmunds: Hyundai Elantra N vs Volkswagen Golf GTI