A $100,000 income sounds solid on paper, but it doesn’t mean you can comfortably afford any car you want. The average transaction price on a new vehicle has also reached an all-time high, so you may find that the monthly payment on a modest upgrade feels surprisingly steep.
According to Kelley Blue Book, the average price paid for a new vehicle in December was $50,326. The average new-vehicle manufacturer’s suggested retail price (MSRP) also set a record at $52,627.
