New car buyers have some great news for when they decide to head into the dealership. According to a new report, the affordability of new vehicles is stable.

Auto Credit Express breaks down a second quarter report from Comerica Bank. The report is known as the “Auto Affordability Index.” What it does is compare the median income of a family in the US to the price of an average-priced car. They then find out how long it’s going to take to pay-off that cost. This is where the good news comes in for the consumer. On average, it’s going to take that family 22.9 weeks to finance their vehicle. This is about the same that it was in first quarter of 2012. Translation, the prices of new cars remains the same.

New vehicles are continuing to be affordable, which is some great news for people in the New York area. The disaster of the hurricane still remains and numerous people are needing to get cars to replace those lost. We here at Bayside Chrysler Jeep Dodge have a saying that we live by and that’s “We Love to Say Yes.” Need to replace a lost car or just in the market, contact us with your application and we’ll help you get that car you need.

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