Several factors are making buying cars more expensive, said Lucia Constantine, a senior researcher at the Durham-based Center for Responsible Lending. In recent years, vehicles have become pricier, thanks to the COVID-19 pandemic and resulting supply chain issues, not to mention new tariffs implemented by the Trump administration, Constantine said. Cars also incorporate more technology than before, which adds to costs. “We also know that the relationship between dealers and lenders really increases the cost of the transaction for consumers who come into the purchase not knowing a lot about the condition of the vehicle or the terms of the financing they will receive,” Constantine said.
