, Columnist
Car Lease Ending Soon? Might Be Time to Buy
High prices and high interest rates make leasing a new car especially unattractive right now.
Wanna buy a car?
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Car buyers have had a tough couple of years. During the pandemic, chip shortages led to supply issues at the same time demand was skyrocketing. Now, Wall Street analysts are predicting a shift for 2023, with increased supply, slower demand and price softening. But even if things aren’t quite as frantic as they were, it’s still a hard time to buy a car.
Prices remain elevated, hitting a record $49,507 on average for a new car. Monthly payments have surged to an average $728, also a record, thanks to rising interest rates.