Today is your day Boomer! Gone are the days of a good car for a reasonable price....I am talking both new and used vehicles! These new numbers floored me: the Price Index Report of New Vehicles by AutoTrader found the average new vehicle price in June 2023 was $66,288, a 21.3 per cent increase over June 2022. The average used vehicle price was $39,645, a 4.1 per cent increase over the same time last year. According to a report on CTV News, the two main reasons are "low inventory levels and a surge in demand." As well, "loan terms have increased over the past four years. Going back to June of 2019, it was 68 months, and now it is 72 months. Consumers are paying more for vehicles and taking longer to pay for them." 66 grand used to buy you a BMW or Mercedes....not now, maybe a Ford or Dodge instead. And....average monthly vehicle payments are now up to over 600$ a month! My advice Boomers? Take rapid transit, maintain your older car, or buy an e-bike for those shorter trips around town. Happy motoring. Cheers!

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