Looking to wheel and deal for a new car? Hit the brakes until you're confident you've found the right ride.

Answer: $48,397

The average transaction price for new cars bought in September 2024 was $48,397.

Questions:

• Why do you think the average price of new cars is so high?
• How would you budget for buying a car? Consider the down payment, monthly payments, interest rates, insurance, and maintenance costs.
• New cars often depreciate (go down) in value once they are driven off the lot. How would this impact your decision to buy a new car versus a used car?
• As a young adult, how might the cost of buying a car influence your decisions about work, transportation, housing, or other major expenses?

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (Kelley Blue Book):

"The average transaction price (ATP) for a new vehicle in the U.S. was $48,397 in September. The September ATP increased modestly from August but was lower year over year by 0.4%, as downward price pressure continues to hold new-vehicle ATPs in check. Incentive spending in September increased for the third straight month, rising modestly compared to August. The average incentive package for a new vehicle was equal to 7.3% of the average transaction price ($3,522) in September, up from 7.2% in August and well above the 4.8% reported one year ago."

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NGPF's Buying a Car mini-unit will help give your students the confidence they need to tackle this intimidating purchasing process!

About the Author

Kathryn Dawson

Kathryn (she/her) is excited to join the NGPF team after 9 years of experience in education as a mentor, tutor, and special education teacher. She is a graduate of Cornell University with a degree in policy analysis and management and has a master's degree in education from Brooklyn College. Kathryn is looking forward to bringing her passion for accessibility and educational justice into curriculum design at NGPF. During her free time, Kathryn loves embarking on cooking projects, walking around her Seattle neighborhood with her dog, or lounging in a hammock with a book.