Edmunds editors put 50,000 miles on more than 300 U.S.-sold vehicles to determine which cars, trucks and SUVs they would tell their friends and family members to buy. +
Edmunds’s latest auto finance report finds average monthly payments passed the $750 mark in the fourth quarter, corresponding with an average amount financed in excess of $42,000. +
Americans still want to buy new vehicles, but an increasing price gap will require consumers to adjust their expectations or settle for pre-owned. +
Analysts say more than one-third of upside-down car buyers owed more than $10,000 on their prior loans in the third quarter, with 7.5% owing more than $15,000. +
Edmunds analysts fear a growing number of 84-month auto loans could indicate that new-vehicle buyers are stretching beyond their financial means. +
