Don't forget average length of loans too. A lot of people are using up to 8 year loans to spread the cost even longer. Incomes haven't kept up with car prices

Don't forget average length of loans too. A lot of people are using up to 8 year loans to spread the cost even longer. Incomes haven't kept up with car prices so the only way people have been affording the same types of cars is with extending the loan payback period and paying a lot more in interest. Great for banks though.