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Brazil Unrest & Car Sales Collapse | 1.10.23
Morning Wire
Inflation and Higher Rates - What's the Root Cause?
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The average APR on a new car last quarter was 6.5%. And the average monthly payment on a new vehicle loan is currently $717. This time last year, it was 6.59. 15% of new car buyers last quarter committed to monthly payments of $1,000 or more,. That's almost three times the rate we saw in 2020. Inflation is also impacting those who recently bought a car even before the rates went up.
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