Consider this: In July, just one car model — the Mitsubishi Mirage — had an average new-vehicle transaction price below $20,000, according to Kelley Blue Book data.
The $20,000-or-below barometer is a sort of unofficial price threshold for an affordable new car, said Brian Moody, executive editor for Kelley Blue Book.
Five years ago, there were 12 vehicles selling for an average price of more than $100,000.
The average new-vehicle purchase price today is about $48,000, up from about $30,000 in 2012, according to Kelley Blue Book.
Know your budget — really Most car buyers use monthly payments to conceptualize how expensive a car is.
Persons:
Kelley, Brian Moody, Moody, Tom McParland, Paul Waatti, Waatti, Joseph Yoon, they're, Yoon, McParland
Organizations:
Mitsubishi, Manufacturers, Kia, Hyundai, Nissan, Mitsubishi —, Automatch Consulting, Consumers, Edmunds, Auto, Ferrari, Lamborghini, Royce