My Ocean Production // Shutterstock The cost of a car or truck is more than just the price you pay driving it off the lot. Every year, auto owners need to factor in a number of different costs to determine the true price of owning a particular model. Everything from the cost of repairs to the price of fuel goes into determining such a cost. As supply shortages and varying demand have made the current auto market one of the most challenging in recent memory, the idea of affordability has begun to change.

Photo Credit: SHERBOCK / Shutterstock After more than a year of high inflation across all parts of the economy, consumers have recently been seeing some signs of relief. The overall rate of growth in the Consumer Price Index has leveled out in recent months after a steep run-up in 2021 and early 2022. And categories that have grabbed headlines for fast-rising prices are cooling down as well. Gas prices dropped from $5.

asiandelight // Shutterstock It might be hard to believe that a “cheap” vacation can exist anymore, given that prices for everything have increased. That’s especially true if you need a rental car for your trip. When the pandemic shut down the world, the travel industry took a steep hit. Car rental companies in the U.S. had lots full of cars that no one was renting, so to stay solvent, they sold off their excess inventory.

Hi there, With inflation continuing to rise, car and gas prices are being affected and we’re all feeling the squeeze. Whether you are planning to buy or sell a car, or just need to make sure you’re maximizing savings on your current vehicle, here’s everything you need for your most confident car experience. If there’s something specific you’d like to see here each month, reply to this email and let us know.

Photo Credit: Jonathan Weiss / Shutterstock The U.S. economy is now more than a year into a run of soaring inflation. According to data from the U.S. Bureau of Labor Statistics, the Consumer Price Index has experienced year-over-year inflation exceeding 5% every month dating back to May 2021, and year-over-year CPI growth topped 8% for three straight months this spring. Amid rising prices for nearly every consumer spending category, the U.

Johann van Dalen // Shutterstock When purchasing a car, most shoppers look for vehicles that are affordable and durable. As the quality of cars improves and prices soar, Americans are holding on to their vehicles for longer. In fact, the average age of vehicles on U.S. roadways rose to 12.2 years in 2022. This trend became prominent during the pandemic, partly due to the skyrocketing prices for new cars, which made used cars a more attractive option.

Photo Credit: Andrew Zaikovskyi / Shutterstock Inflation has hit many sectors of the economy hard over the last year, but few categories can compare to the automotive industry. Economic experts debate how much the current period of inflation has come from increased consumer demand and how much has been caused by constraints on supply. In the vehicle market, both forces are clearly at play. Low interest rates, federal stimulus payments, and better-than-expected economic conditions throughout the pandemic gave households more money to spend on big purchases like cars.

nrqemi // Shutterstock Few announcements have rocked the automotive industry as hard as the one-two punch of General Motors’ notice of intent to exclusively produce electric-powered vehicles by 2035 and the Ford Motor Company’s $30 billion investment in electric vehicle development. The latter has thus far resulted in the release of an all-electric F-150 and Mustang, the automaker’s two top-selling models. Of course, other automakers have taken a dip into the EV pool, among them Chevrolet, Volvo, Porsche, Mazda, and Mercedes Benz, and it would seem that Tesla set a gold standard for the development and marketing of the electric vehicle.

Photo Credit: RossHelen / Shutterstock Inflation has been the dominant story in the U.S. economy for most of the last year. Year-over-year increases in the Consumer Price Index have reached their highest levels in 40 years, with consumers paying more for expenses from food to housing to energy. And one of the categories that has consistently seen the highest price increases in this inflationary period is vehicles, both new and used.