$34,077 dollars. Yikes. That’s about twice what my folks paid for their first house. Yessiree, the average new car price for 2016 now over $34,000. And, Edmunds expects that to rise to over $35,00o for this year.
But, the average car loan amount finances was only $30,022 (according to Experian), which means most folks have some cash or trade-in equity to use as down payment.
What if you can’t afford $34,077?
No problem. At Ron Westphal Chevrolet we’re proud to be below average! We offer many, many cars, trucks and SUV’s priced well below the 2016 average. Some new 2017 models are selling for only $12,558* and come with full factory warranty. Call our Customer Care Team now at 630-898-9630 to go over all your options. Or, find your new vehicle on our website at www.WestphalChevy.com.
The average new car prices are up over 12% in only 5 years.
So what’s causing this? Edmunds believes the primary factor is growth in the light-duty truck market. It currently engulfs about 62 percent of the new-car market, and if you’ve ever been to a truck manufacturer’s site to play around with Build and Price tools, you’d know pickup trucks or an SUV can get expensive. A new 2017 loaded Silverado Crew Cab LT 4×4 has a MSRP around $45,000+ but lease deals can put these trucks in the hands of those who may not be able to afford traditional financing.
Leasing gains in popularity
Almost 1/3 of new vehicle sales are leases. If you think a brand new car, truck, van or suv is out of your budget-think again. We may be able to get you behind the wheel of your ideal Chevrolet with no money out of your pocket and with a low monthly payment. Call our Customer Care Team at 630-898-9630 for more information or drop by our showroom.
*Plus tax, license and fees. Includes all incentives.