A new car costs nearly $50,000 on average: Here’s how much you’d pay per month
Published Sat, Mar 8 202510:00 AM EST
Mike Winters@MIKE_WINTRS
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Adam Gault | Getty Images
It’s becoming increasingly expensive to buy a new car.
In fact, a record number of new-car buyers — nearly 1 in 5 — are making payments of $1,000 or more,
according to Edmunds. For a household earning the U.S. median income of $80,610, a $1,000 car payment would take up 15% of pre-tax income, before factoring in the cost of insurance, gas or maintenance.
It doesn’t help that the average price of a new auto is
nearly $50,000. And prices could climb even higher. With the
looming possibility of 25% tariffs on cars and components from Mexico and Canada, new car costs could rise by as much as 12%, or $5,790,
according to one estimate.
With prices at near-record highs and potential tariffs looming, buying a new car has never been more expensive. But factors that you have more control over, like your credit score, loan terms and down payment, also impact your monthly payments. Here’s a look at how to make a new car fit your budget.