Rising rates of interest are dangerous sufficient, however they’ve mixed with a 13% hike in new car costs to depart some buyers staring down automotive funds that rival the month-to-month mortgage on a $300,000 residence.
For these eyeing a brand new Tesla, it isn’t simply the sticker costs which are electrifying. It’s additionally mini-shocks that include each month-to-month fee.
Whether or not it’s high-end electrical, luxurious automobiles or swanky SUVs and pickups, rising rates of interest are combining with report common costs to saddle patrons with funds that may rival what they pay to place a roof over their heads.
