Last year, the average transaction price for a new car was just over $28,000.How times have changed.
According to Consumerist, new car prices are now up nearly 7 per cent to an all time high average of just over $30,000.
It seems that consumers are more willing than ever to add some extra bells and whistles to their new cars.
One factor may be the fact that people are now keeping their cars for a record amount of time; According to The New York Times, Americans are now keeping their cars for nearly nine years.
Perhaps the quality of current cars has encouraged car shoppers to make a larger investment, since they know it will be in their driveway longer than ever before.
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