According to the Consumer Federation of America, high car prices are creating a financial emergency in America. With new car prices averaging nearly $50,000 — and 20% of new car buyers paying $1,000 or more for their monthly car payment — it’s no surprise that the total level of auto debt in America has reached a whopping $1.66 trillion. Be Aware: I’m a Mechanic: These Are the 5 Most Expensive Cars To Maintain Over Time Explore More: 6 Hybrid Vehicles To Stay Away From in Retirement The consequence of all ...