The average price of a new car swelled to more than $48,000 this spring, Cox Automotive reports.
Why are vehicle prices up? Tariff uncertainty, ongoing inflation and fancy technology are leading reasons for higher automobile prices in 2025.
It follows that Ford recently informed dealerships of an upcoming $2,000 increase on three of its popular models, Reuters reports. A Ford spokesman told NerdWallet that the markup is due to "usual mid-year pricing actions combined with some tariffs we are facing."
The prices of used vehicles may be less sensitive to global economic headwinds, but secondhand cars, trucks and SUVs are also more expensive now than they were a year ago. Auto industry watchers report the price of used vehicles sold through auction is up nearly 5%.
Such statistics will not likely sway someone with money to spend who is in dire need of a vehicle, and there is an upside and a downside to almost every vehicle purchase. While new cars are stylish, high tech and customizable, used cars come with much less sticker shock.
Used vehicles, however, may require more visits to the mechanic. At the same time, any repair or replacement part for a new car will be costly.
Shoppers who do opt for something secondhand at least have the peace of mind that millions of other drivers tested those vehicles before them — including drivers who provide feedback to Consumer Reports.
The slideshow above illustrates the most reliable used vehicles around in 2025, according to Consumer Reports.
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