How Much Should You Pay For a Car?

When it comes to financial decisions, the allure of a shiny new car often overshadows the benefits of investing that money instead.

The average monthly payment for a new car in the U.S. is approximately $700, and over a typical five-year loan term, buyers can end up paying nearly $42,000 when interest is factored in. According to the Bureau of Economic Analysis, the average American car depreciates by about 20% the moment it’s driven off the lot, meaning that a $30,000 vehicle could lose $6,000 in value almost instantly. Read more here: https://arandagency.mylivingbenefits.com/blog/howmuchshouldyoupayforacar