Used Car Payments Hit $400 Per Month

Used Car Lot

Americans are spending more than ever for used cars.

The average price of a used vehicle hit an all-time high for the third quarter of 2018, according to car-buying advice site Edmunds.

At $20,084, the average price was up 3.5 percent from the same period a year earlier and up nearly 19 percent from five years earlier.

And rising interest rates are driving costs even higher.    MORE

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