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Record Car Prices Are Pushing American Drivers Deeper Into Debt

The average price of a new vehicle in the US has climbed to a record $51,109, according to a new Cox Automotive report citing Kelley Blue Book data.

  • Record-high average price of $51,109 per new vehicle in the U.S.
  • Average monthly payments for new cars reach $787, record high.
  • 25.5% of new-car buyers take 84-month or longer loans.

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