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Top edmunds.com News

Detroit, Michigan · Detroit

Record Number of People Are Making Monthly Payments of $1,000 or More for Their Cars

90% Center coverage: 10 sources

How much are you willing to spend on a new ride? According to the car shopping site Edmunds, the amount of people paying more than $1,000 monthly for a new vehicle has reached record highs.Edmunds said 1 in 5 people have committed to at least $1,000 per month on a car payment during the second quarter of this year. While some budgets can handle that type of spending, a financial expert said others should consider their options. Joy Fugghett said…See the Story

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