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Can You Afford the Average Car? Probably Not, Study Says

Toyota Yaris Most Americans are spending more than they can afford on a new car, according to a study released this week by Interest.com, a subsidiary of Bankrate, Inc. Analysts looked at the median income, insurance rates and taxes in 25 cities to determine the affordability of a new vehicle based on region. They compared those figures with Kelley Blue Book’s average price of a new car, truck or SUV last year, which was $32,086. Washington, D.C. is ... continue reading»

Tags: News, car financing, affordability