Cox Automotive's Sept. 24 market update placed the average new-vehicle transaction price at approximately $50,090 for September. That national estimate puts the typical sale above $50,000 before buyers account for interest, insurance and other ownership expenses.

The number needs context. It does not mean every vehicle on a dealer's lot costs $50,000, and it should not be treated as a Logan County average. National transaction-price figures include everything from entry-level compact cars to luxury SUVs and heavily equipped pickups. Cox Automotive's July figures showed average transaction prices of $27,904 for compact cars, $37,745 for compact SUVs and $66,980 for full-size pickup trucks. The vehicle type and equipment package can therefore matter as much as the overall average.

Prices also remain below the amounts manufacturers display on window stickers in many transactions. Cox estimated that incentives averaged about 6.5% of the transaction price in September. Those incentives can include customer rebates, discounted financing or money applied to certain models, but they vary widely. An advertised discount may apply only to a particular trim level, financing program or group of qualifying buyers.

For consumers, the most useful figure is not the sticker price or advertised monthly payment. It is the out-the-door price, which includes the negotiated vehicle price, sales tax, document charges, registration costs and any dealer-installed products. Shoppers should request that total in writing and compare it among dealerships before discussing how much they want to pay each month….READ MORE…