ICYMI: Why can’t you buy a cheap new car anymore? — via drivingdotca ShoppingAdvice AffordableVehicles
. But for its 2023 model year, the Japanese sedan has officially lost its stick shift and now only comes with the CVT. Consequentially, its entry price jumps $3,240 in just one year.? Beyond the three subcompacts listed above, there’s another one that is upholding the manual, and that’s the. For 2023, not only does the Japanese sedan keep its base trim with a manual transmission , but its starting price of $20,548 has remained virtually unchanged for the last three years.
Essentially, for each extra $200 that you will pay monthly for your new “affordable” car, a quarter will be attributable to interest rate increases. To demonstrate the situation, let’s take the example of our introductoryIn the summer of 2018, a base Honda Civic sedan was dealer-financed at 2.99 per cent over five years and 3.99 per cent over seven years.
Thus, dealer-financing is now offered at 6.21 per cent over five years and 6.91 per cent over seven years. More than ever, as a savvy consumer, you want to look beyond payments — whether monthly, bi-weekly or weekly, stretching up to 84 or even 96 months — and shop for the best rate. Furthermore, while you’re web browsing, you may notice that Hyundai Canada still offers 2022 Elantras. Since the Korean sedan was available last model-year with a manual transmission, its starting price is lower at $18,099. What’s more, dealers are offering financing at a lower rate, in order to boost last-minute sales.Article content
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Why can’t you buy a cheap new car anymore?When was the last time you saw an ad offering thousands of dollars in rebates or 0% financing on the purchase of a new vehicle?
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