What Is the Average Price for a New Car?

The automobile industry is experiencing an unprecedented supply and demand crisis as prices of used cars soar nearly 30 percent. Surging prices for used cars have been a major driver of inflation this year. Now, there are signs those price hikes may be shifting into reverse — and that could provide important clues about where inflation is headed next.

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If you're in the market for a new car, you may be trying to determine how much it'll cost to make sure the purchase fits in your budget. The actual price you pay, though, will depend on the make and model you're hoping to buy. If you're financing the car, you'll also want to look into average interest rates, so you'll be able to determine the total cost of your purchase.