What’s the average car purchase price?

The average car purchase price has seen a notable increase in recent times. It's mentioned that the average price for a new car is now around $40,000 1. This includes basic models like the Toyota Camry and Honda Accord, which are generally priced in the $40,000 to $50,000 range 2. This increase in prices, coupled with higher average car payments now around $700, reflects the rising costs in the car market 2.