Buy a car
from the safety of your home.
Connect with our dealer and finance partners through our site and ask for details regarding their at-home car buying services.
  • Video car tours
  • E-transaction: complete paperwork online
  • Vehicle home delivery
  • Enhanced vehicle sanitization
OK

New Cars More Affordable Than They've Been Since 2004

November 11, 2009

Attention, shoppers: new cars are more affordable today than they've been in over five years. According to Comerica Bank's Auto Affordability Index, it now takes the average family 21.9 weeks of income to pay off an average-priced vehicle. Sadly, that's not because household income has risen, but because the average cost of a light vehicle has dropped to $25,500. Comerica's data comes from the third quarter of 2009, which of course included Cash-for-Clunkers; however, while analysts say that C4C did impact prices, auto affordability had been improving long before the federal program kicked in. Customers are now paying less for vehicles than they have since early 2004. [PRNewswire]

2020
The Car Connection
See the winners »
2020
The Car Connection
Commenting is closed for this article
 
Ratings and Reviews
Rate and review your car for The Car Connection
Review your car
The Car Connection Daily Headlines
I agree to receive emails from The Car Connection. I understand that I can unsubscribe at any time. Privacy Policy.
Thank you! Please check your email for confirmation.