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It's borne by stats. https://i2.wp.com/financialsamurai.com/wp-content/uploads/2022/11/IMG_8477.jpg https://i2.wp.com/financialsamurai.com/wp-content/uploads/2

• jeffbee 3y ago
  Averages are quite useless for this purpose.
• gottorf 3y ago
  It's more accurate to compare the average monthly car payment over time, not the total price of the car. The majority of people don't buy the total price, they buy the monthly payment (whether out of innumeracy or a desire to have a better car than they can really afford). I wasn't able to quickly find data, but I would imagine the rise in the average monthly payment is more in line with the rise in the CPI.
  • darrylb42 3y ago
    Last time I was shopping for a car ~4 years ago. Most prices were written on the windshield as weekly payments, over an unknown period. Getting the actual price required stopping and reading the small window sticker.