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Tariff price hikes arrive just as the average cost of a new vehicle hit $47,465, per research site Edmunds, with nearly 1 in 5 consumers paying $1,000+ in monthly car payments.
In addition, Americans could see car prices pushed as much as $12,000 higher depending on the type of vehicle because of the Mexico and Canada tariffs, an analysis from the Anderson Economic Group ...
Tariffs imposed on goods from Mexico and Canada are expected to increase the prices of goods used by Americans every day. ... A new car is showcased at a car dealership in Brooklyn on October 05 ...
TD Economics notes that average U.S. car prices could rise by around $3,000 – this at a time when the average new car already goes for nearly $49,000 and the average used car for $25,000 ...
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The yearly depreciation of a car is the amount its value decreases every year. Normally a car's value is correlated with the price it has on the market, but on average a car has a depreciation around 15–20% per year. [12] [13] Depending on market conditions, cars may depreciate 10–30% the first year. [14]
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