In 2022 – the price of a new car averaged 26% higher than the same car pre-pandemic. Average monthly car payments are now approaching $750 per month.
Meanwhile, the best car strategy, assuming one wants to buy an ICE car, is to choose the best foreign model with the highest consumer ratings from Consumer Reports. Choose a car that is more expensive than what you think you can afford. Then, hold it for a minimum of ten years. You will be driving a high-quality “dream car” and it will still retain some significant value when you go to sell it in ten years.
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