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Cox tallies show income bumps helped offset other pressures in October.
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Interest rates increasing the costs, with no end in sight, Edmunds finds.
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New-vehicle purchases a little easier on the wallet despite high prices, interest rates.
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Cox Automotive says that though some consumers are being priced out of the market, it’s rebalancing.
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Edmunds data show how new-model prices ballooned and by how much.
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Multiple factors drive down purchase costs, which is still well above what most households can afford.
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More consumers in the prime and superprime credit tiers opted for used vehicles as concerns around affordability grew in the first quarter, according to the latest report from Experian.
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Cox Automotive’s 2019 Car Buyer Journey report finds consumers are spending less time in dealerships and in the market, accelerating the decisionmaking process as a growing affordability gap continues to threaten new-vehicle sales.
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Thirty- and 60-day delinquencies remained fairly stable in the fourth quarter, while affordability rightfully remains a key point of discussion among dealers and auto finance sources.
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