Cars are getting increasingly expensive.
The average price of a new car is now $26,000, up from $22,500 in 2013.
That’s an increase of more than $2,000 from the previous year, according to new research from the CarMax Foundation.
In the U.S., the average price is $25,600.
And even if you buy a new vehicle for the first time this year, you’re likely to be paying more than that in a few years.
The CarMax foundation’s research found that the average cost of a car in 2016 was $23,400.
That is nearly $4,000 more than it was a decade ago.
The price of the cheapest car in the U, however, is still cheaper than the average car in every state, according, CarMax CEO and president Scott Griesbach.
“The average price per mile of a vehicle has gone up significantly, but the cost of the vehicle itself has gone down substantially,” Griesbisch told CNBC in an interview.
That means that you’re paying for fuel and the cost to maintain and repair the vehicle.
That can include repairs and maintenance.
The car you’re driving now costs around $1,000 less than it did in 2000.
The cost of maintenance and fuel is up as well.
In 2016, the average vehicle cost was $1.6 million.
That number was $2.2 million in 2016, according the study.
But Griesberis said the cost per mile is going up even more.
“You’re not going to be able to buy a cheaper car in a decade,” he said.
A new vehicle costs more than the cheapest one in the past, he added.
“This is a global phenomenon.”
The foundation’s findings come from a survey of more 1,200 people across the United States and Canada.
It was done in the fall of 2016.
The researchers looked at the average purchase price of vehicles for the past decade and found that in the last 10 years, the cost has more than doubled.
That trend is most pronounced in the Northeast.
It’s going up almost $100, or 9 percent, over the past 10 years.
That translates to a total increase of about $15,500.
New cars are on average $26.50 more expensive than the previous model year.
That compares to the $20.25 the average buyer paid in 2016.
Even the cheapest vehicle is more expensive in many states than the most expensive one in 2000, Griesberg said.
“I don’t think you’ll be able buy a cheap car in any of the states in the country in the next decade.”
And even with a higher cost of ownership, the cheapest vehicles are still cheaper, he said, than their more expensive counterparts.
The study looked at how much a typical driver paid for a car.
The survey found that for the next five years, average driver payments will be $1 less than they were in 2020.
That includes the increase in fuel costs, maintenance and repairs.
Griesbert said that even with those price hikes, the difference in the cost between the most and least expensive cars will still be about $1 per mile.
The foundation found that even after accounting for the inflation, the number of miles driven for the average driver is still higher than the number driven by the average family in the United State.