![]() 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. To help you in the search for your new set of wheels, has evaluated and ranked the best options for online car-shopping.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. What do people say about their experience with using a particular car-buying site? Did it help them find legitimate vehicle listings or did it result in tons of spam emails and phone calls? Has the Better Business Bureau rated the company? How much detail can you get on any particular car? Does the site clearly tell you where the vehicle is located and which dealer is offering it? Are you able to make direct contact or do you have to use a form on the website and wait for a response? Can you see a car's pricing history? Any website can try to sell you a car, but does it give you the information you need to make an informed decision? You might want to look at videos of test drives, comparisons between your two top picks, or articles that help you decide on a budget. How can you tell which one to use? Keep these factors in mind: There are quite a few websites offering to help you find your new car. But, look at the vehicle listing closely and you may find you have the option to have the car brought right to you. At this point, most shoppers will head to the lot to finalize the deal: setting up financing if needed, bringing in their trade-in when applicable, and driving away. You may even be able to see ratings from previous customers to determine if the dealer has a good reputation.įinally, it's time to work with the dealership to make your purchase. #Edmunds car compare how to#When you click on a specific vehicle's listing, you can typically see which dealership is selling it and how to get in touch. Use all of the available tools to narrow down your options by color, price, desired technology, miles per gallon, or any other criteria you've prioritized. Next, use a car-buying site to figure out what cars are in stock near you - or nationwide, if you're willing to make a trip to pick it up or if the dealer offers delivery (usually for an extra charge). ![]()
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