Money Monday!

Car-Pay Diem? Ordinarily, I encourage clients to “seize the day” and shop end-of-year sales at dealerships, but car prices in 2021 remain high.  This is normally the time of year to see car commercials featuring a new vehicle in the driveway.  However contrary to the message in the ads, you may make this a “December to remember” by NOT buying a car. 

For the first time in history, the average new-car cost over $45,000. $45,031 to be exact.  That’s up from $40,000 at the end of last year.  Click below for more on the increasing price tag of a new car:

Used Cars are no better.  According to, the average wholesale price paid by car dealers rose by nearly 5% in the first half of November, and the average list price for a used vehicle was 25% higher than this time last year.  In summary, unless you really need a new car, it may be worth holding off until the chip shortage and other contributing factors to these high prices subside.

For more details click the link below:

Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors.  Raymond James is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members.