Buying a car? Here are some tips to save money.

Buckle up for both high gas prices and rising new and used vehicle prices. The cost of driving is rising with the Iran war making it more expensive to fill up, while new and used vehicle prices are also giving Americans sticker shock . Consumers in the market for a new vehicle faced an average new car price of nearly $50,000 in March, according to Kelly Blue Book, marking a 3.5% uptick compared to March 2025. The average new car is also up a whopping 30% compared to 2019, while used cars won't deliver much savings, either. The average used car cost $25,390 in March, according to Kelly Blue Book. Two main factors are contributing to rising car costs. Stubbornly high inflation, which reached 3.8% in April , its highest level in almost three years, is driving up costs across a range of goods and services. Americans are also purchasing larger vehicles, which are more expensive than compact cars. For many Americans, shelling out $50,000 for a new vehicle is financially impossible. It's important to consider your monthly costs when weighing new vehicle financing alternatives. Average auto loan interest rates are at 7%. To bring down monthly payments, some consumers are stretching the terms of the loans. According to Edmunds data , one in four Americans are financing their purchases for 84 months, or seven years. "People are saying, 'I want a car, it's expensive, if I stretch out the payments, then I can afford it monthly,'" CBS News business analyst Jill Schlesinger said. …