States with consumers that favor large truck purchases are leading the country in the greatest share of $1,000+ monthly car payments (infographic available).The top 10 list of models ranked by share of $1,000+ monthly payments can be found below. The Ford F-150 made up 5.6% of all new vehicle loans made in Q3 with a $1,000+ monthly payment. Ford F-150, Ram 1500 and Chevrolet Tahoe captured the highest percentage of monthly payments over $1,000. Large trucks and large SUVs dominated the top 10 list of models that commanded the greatest share of $1,000+ monthly payments.
#Edmunds car compare full
The full list of makes ranked by share of $1,000+ monthly payments can be found below. 10 spot with 36% of its shopper base committing to a $1,000+ monthly payment. 7 spot with 41% of its shopper base committing to a $1,000+ monthly payment and Ram took the No. Though luxury brands dominate the list, GMC earned a No. Two mainstream brands known for their popular truck offerings made it to the top 10 list of makes that commanded the greatest share of $1,000+ monthly payments.26% of consumers who financed an EV committed to a $1,000+ monthly payment, compared to 24% of consumers who financed a plug-in hybrid, 14% who financed a gas-engine-only vehicle, and 4% who financed a hybrid vehicle. More than 1 in 4 consumers who financed an EV committed to a monthly payment over $1,000.Rising interest rates combined with higher prices has sent monthly payments soaring to new heights."Įdmunds analysts took a closer look at the share of monthly payments over $1,000 for financed new vehicle purchases in Q3 by state, make, model and powertrain. In the past decade, we've seen Americans embrace a bigger-is-better mindset by gravitating toward larger vehicles with more creature comforts, technology-heavy features and, more recently, electrified powertrains - but that all comes with added cost. "Ongoing inventory shortages are partly to blame, but this trend is also a reflection of consumer preferences. "Despite worrisome macroeconomic conditions, Americans are spending more money than ever on new vehicle purchases," said Jessica Caldwell, Edmunds' executive director of insights. Your actual five-year cost of owning a particular vehicle will vary depending on your personal circumstances, such as your driving history and the number of miles you drive.įor more information about TCO, please see About True Cost to Own® and Revealing the Hidden Costs of Ownership.States with consumers that favor large truck purchases are leading the country in the greatest share of $1,000+ monthly car payments, according to Edmunds. Note that TCO is a comparative tool, not a predictive tool. For used vehicles, we assume that the vehicle has been driven 15,000 miles per year from its model year through the current calendar year. In order to estimate certain mileage-dependent costs, we assume that vehicles will be driven an average of 15,000 miles per year. The ownership costs that we estimate include depreciation, interest on financing, taxes and fees, insurance premiums, fuel, maintenance and repairs. The tool makes it easy for shoppers to compare five-year total ownership costs for the different vehicles they are considering so that they can make more informed buying decisions. Edmunds developed True Cost to Own (TCO) to help car shoppers estimate the total five-year cost of buying and owning a vehicle.
0 kommentar(er)
