New Car Prices Hit Record Highs
Car prices are at their highest levels in history.
In May, the average price of a new car was $29,817 - up $608 from a year ago and $215 more than the previous month's prices.
Some manufacturers have raised prices more than others.
Ford's average price is $32,885 - a 5.2% increase from last year.
Hyundai and Kia have the lowest average prices with a current average of $19,217.
These nasty sticker prices reflect a tight supply for new cars thanks to the earthquake in Japan.
So what should a car buyer do? If you can wait, your best bet may be to buy at the end of the year when supplies are expected to be back to normal.
You can also look forward to lower prices on any leftover 2011 models.
My Recommendation for Car Shoppers
TrueCar No-Haggle, CarsDirect, and NADAGuides are the quickest way to see the lowest car prices in your area. These sites show you no-haggle prices from dealers closest to you - and the deals are usually really good. This should be the first step you take when negotiating your car price. Follow this up with my checklist to make sure you squeeze out every last bit of savings.- Gregg Fidan
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid
About The Author
Gregg Fidan is the founder of RealCarTips. After being ripped off on his first car purchase, he devoted several years to figuring out the best ways to avoid scams and negotiate
the best car deals. He has written hundreds of articles on the subject of car buying and taught thousands of car shoppers how to get the best deals.
Latest Weekly Car Buying Tips
October 2021
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- Best Car Deals Around the Country Oct 14, 2021
- Biggest Discounts on New Cars Oct 14, 2021
- Real Prices of Midsize SUVs Oct 14, 2021
- Best Bang for Your Buck Lease Deals Oct 07, 2021
- Best Electric, Hybrid Lease Deals Oct 07, 2021
- Best 0% Finance Deals October 2021 Oct 07, 2021
- Real Prices of Compact Cars Oct 07, 2021
September 2021
- Which Cars Better to Lease or Buy Sep 30, 2021
- Worst Cars to Lease Right Now Sep 30, 2021
- Best Car Deals by Category Sep 30, 2021
- Real Prices of Midsize Cars Sep 30, 2021
- Real Prices of Large SUVs Sep 23, 2021
- New Cars You Should Wait to Buy Sep 23, 2021
- Top 100 Cheapest New Cars Sep 16, 2021
- Cars With the Largest Rebates Sep 16, 2021
- Price Comparison of Subcompact SUVs Sep 16, 2021
- Real Prices of Pickup Trucks Sep 09, 2021
- Best & Worst New Cars to Buy Now Sep 02, 2021
- The Best Labor Day 2021 Car Deals Sep 02, 2021
- Real Prices of Small Luxury SUVs Sep 02, 2021
- Largest Hidden Dealer Rebates Sep 02, 2021