Editorial archive

July 2017

Edmunds' analysis finds auto loan lengths reach all-time high

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(July 4, 2017) SANTA MONICA, Calif. — As car buyers' appetites for bigger and more expensive vehicles grows, so does their willingness to take longer paying for them, according to a new analysis from Edmunds.

The average auto loan length reached an all-time high of 69.3 months in June — up 6.8 percent from five years ago. The average amount buyers financed recorded the biggest uptick for the year, hitting $30,945 (up $631 from May), also leading to the highest monthly payments for the year, now averaging $517 (up from $510 in May).

Gasoline prices in U.S. drop to new low for 2017

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(July 4, 2017) At $2.23, today’s average national gas price is the cheapest the country has seen all year, according to statistics released by AAA. On the week, gas prices fell in 46 states. Only Illinois, Oklahoma and Washington, D.C. saw prices increase, albeit by one cent each, while Hawaii and Maine remained flat.

New car prices grow more slowly — 1.5 percent year-over-year

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(July 3, 2017) IRVINE, Calif. — The analysts at Kelley Blue Book kbb.com today reported the estimated average transaction price (ATP) for light vehicles in the United States was $34,442 in June.  New-car prices have increased by $511 (up 1.5 percent) from June 2016, while remaining relatively flat (down 0.1 percent) from last month.  

"Transaction prices grew more slowly than normal in June, increasing less than 2 percent," said Tim Fleming, analyst for Kelley Blue Book.