For those mentioning where is the average price paid vs cost of a vehicle, there is a brief mention in the article.
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Originally Posted by USA Today
The average new-vehicle buyer borrowed $35,373 and placed a down payment of $4,734 in the fourth quarter of 2020, up 5.5% and 9.4%, respectively, from the fourth quarter of 2019.
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Also in regards to the average cost, it actually is significant as the change in cost has substantially increased compared to previous records despite the pandemic. The 2019 record average price was $34k and 2018 was only a difference of less than $500. However, the change for 2019 to 2020 was $6,000, a large growth in a complicated year.
The reason is possibly this.
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Originally Posted by Motor1
So who's out there driving prices up, even amid the coronavirus pandemic? By and large, it looks as though it's wealthier folks. Jessica Caldwell, executive director of insights at Edmunds, told USA Today that people buying new cars are financially insulated from the pandemic. "It's almost like we have two different countries within this country of people who are buying new houses, buying new cars, versus other folks who are perhaps in the service industry and are struggling," Caldwell said.
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