new cars were just as affordable in march as they were in february that’s remarkable news after a year in which they steadily grew more difficult to afford affordability isn’t just measured by price the cox automotivemoody’s analytics vehicle affordability index measures the number of weeks the average earner would need to work to pay off the average new car cox automotive is the parent company of kelley blue book the average american would have needed to work 429 weeks to pay off the average new car in march car prices fell slightly in march with the average new car selling for 45927 – down from a peak of over 47000 in december but other factors worked against buyers interest rates increased incentives fell those combined to raise the average monthly payment to a record 691 read does driving an electric car really save you money a cheapskate runs the numbers newvehicle affordability in march was much worse than a year ago when prices were lower and incentives were higher the estimated number of weeks of median income needed to purchase the average new vehicle in march was up 18 from last year