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Average new-car prices aren’t getting any more reasonable, and if you’re someone who finances their vehicle, you’re probably wondering where all the money’s going.The average APR for new vehicles financed in March was 7 percent, helping create a market where the average payment for a new car is, gulp, $730.That’s bad, but the number of people paying over $1000 is also on the rise. In Wyoming, more than 25 percent of car shoppers who finance have payments that high. Sorry, truck shoppers. The average price of a new car in the U.S. has been climbing, again, and at least one Toyota executive thinks it could hit $50,000 later this year. If we’re paying more for our cars, it logically follows that our monthly payments are increasing as well, especially with interest rates as high as they are. Right on cue, Edmunds has announced that the average annual percentage rate (APR) for new vehicles was at 7 percent in March, the highest level since early 2008. The average monthly payment for a new car is now $730, up almost $80 from a year ago.Interest Rates Climbing to 7 Percent and HigherThe average APR is under 6 percent in only two states—Minnesota and South Dakota—and is above 7 percent in 16 mostly Southern states. The national average was under 6 percent in September and has been climbing each month since then. The Federal Reserve sets the rate at which banks can borrow money, which then influences the rate the rest of us pay when we, say, finance a car. The Fed has been raising interest rates recently as it attempts to keep inflation from growing too rapidly and has raised the rate by almost 5 percent over the past year. Here’s More Good NewsHigher APRs and higher prices, along with the length of the loan, affect the total price and just how much people are paying each month. In some cases, it’s a lot. In January, Edmunds noted that around 15 percent of people who financed a new car did so with payments over $1000. As of March 2023, the number has grown to almost 17 percent, representing a continued increase from the 10.5 percent who were paying four figures monthly for their car a year ago. These high payments are likely one reason why more Americans are falling behind on their car payments in 2023 than at any time since 2009, according to Bloomberg. Wyoming Has the Most $1000+ Car Payments Two states stand out as “winners” in the race to pay $1000 or more a month for your car: Texas and Wyoming. Almost 21 percent of new-car financers are in the four-figure club, but Wyoming has the honor of topping the list. Vehicles are “ridiculously more expensive” there these days than before, according to Cowboy State Daily, and we can see that in the fact that a whopping 25.7 percent of people agreed to pay over $1000 a month for their vehicles. Edmunds said the high prices in Wyoming and Texas are “due to the high volume of large truck purchases in both states.”While $1000-a-month payments are rare in the used-car world, the cost to finance is even higher than for new cars, Edmunds notes. The average APR to borrow money for a gently loved car or truck was over 11 percent last month, up from just over 9 percent in September. It’s pricey out there. This content is imported from poll. You may be able to find the same content in another format, or you may be able to find more information, at their web site.Shopping Is Still Fun AnywayContributing EditorSebastian Blanco has been writing about electric vehicles, hybrids, and hydrogen cars since 2006. His articles and car reviews have appeared in the New York Times, Automotive News, Reuters, SAE, Autoblog, InsideEVs, Trucks.com, Car Talk, and other outlets. His first green-car media event was the launch of the Tesla Roadster, and since then he has been tracking the shift away from gasoline-powered vehicles and discovering the new technology’s importance not just for the auto industry, but for the world as a whole. Throw in the recent shift to autonomous vehicles, and there are more interesting changes happening now than most people can wrap their heads around. You can find him on Twitter or, on good days, behind the wheel of a new EV.  More

Toyota teases the 2024 Toyota Tacoma with a picture of the mid-size truck’s tailgate.The teaser image confirms the pickup will once again be available in TRD Pro guise.The photo also reveals the company’s plan to offer the next-gen Taco with a hybrid powertrain.A new Toyota Tacoma is coming. Alas, it’s not coming today. Rather than fully show its next-generation mid-size pickup, Toyota has opted to send out a teaser image instead. The photo shows off the truck’s tailgate and right rear taillight. A smidge of the 2024 Tacoma’s rear bumper also makes an appearance. What can we glean from this image, though?Well, we see the next-gen Taco’s rear-end design will largely mimic that of the full-size Tundra, with the two trucks sharing similar tailgate and taillight treatments. The tailgate in this teaser also tells us a bit more about the 2024 Tacoma’s trim and powertrain offerings.ILLUSTRATION BY BEN SUMMERELL-YOUDE/FOX SYNDICATION|Car and DriverFor instance, the “TRD Pro” stamping confirms the most off-road-ready variant of today’s Tacoma line is due to return. Like the current Tacoma TRD Pro, the 2024 model is sure to separate itself from the rest of the Tacoma line by way of various off-road goodies. We wager the new truck will once again employ Fox-branded shocks, feature a bevy of underbody skid plates, and benefit from additional ground clearance—as well as improved approach, breakover, and departure angles—by way of a suspension lift.Expect power to come courtesy of a gasoline-electric hybrid setup, as noted by the iForce Max badge pinned to the lower-right corner of the Tacoma in this teaser. Note that Toyota precedes the Max designation with iForce and not Hybrid.toyotaThe latter—Hybrid Max—is the designation Toyota uses for the 340-hp gasoline-electric powertrain it fits in the Crown sedan. (It’ll also find a home under the hood of the upcoming Grand Highlander where it’ll push out 362 horses.)Although Toyota may offer the four-cylinder-based Hybrid Max as an option in lesser Tacoma trims, the automaker’s first teaser for the new truck appears to indicate the Tundra’s six-cylinder-based hybrid powertrain will motivate the next Tacoma TRD Pro. This setup produces 437 horsepower in the Tundra, though it’ll probably make a bit less in the Tacoma. Regardless, the hybrid TRD Pro ought to give the forthcoming Ford Ranger Raptor a run for its money in the world of high-powered off-road-oriented mid-size pickups. More Taco TalkThis content is imported from poll. You may be able to find the same content in another format, or you may be able to find more information, at their web site.Senior EditorDespite their shared last name, Greg Fink is not related to Ed “Big Daddy” Roth’s infamous Rat Fink. Both Finks, however, are known for their love of cars, car culture, and—strangely—monogrammed one-piece bathing suits. Greg’s career in the media industry goes back more than a decade. His previous experience includes stints as an editor at publications such as U.S. News & World Report, The Huffington Post, Motor1.com, and MotorTrend. More

After a string of fanciful concept cars—the X, X Speedium Coupe, and X Convertible concepts—the GV80 Coupe concept Genesis unveiled tonight at its Genesis House in Manhattan’s Meatpacking district ahead of the New York auto show looks largely ready for production. The faster-roofline, four-seat version of the company’s GV80 mid-size SUV is a sporty take on the SUV-coupe fad, with a carbon-fiber roof and aggressive ducktail rear spoiler. Inside, is a plethora of Alcantara surrounding four carbon-fiber-shelled bucket seats, each with a hand pump to inflate their bolsters. Behind the passenger cabin is a beefy cross brace.The GV80 concept is wearing giant, 23-inch wheels, but could-be-sportier Pirelli P Zero Scorpion All Season tires, behind which are cross-drilled and slotted rotors clamped by large, fixed-piston calipers. Its searing orange Magma exterior color is inspired by the volcanos surrounding the Korean peninsula where the brand calls home. Although the company is on a path to an electric-only lineup, the GV80 concept gets an internal combustion powertrain, one with the hum of a V-6 when it was being repositioned at the reveal event. Perhaps this sportier coupe variant might inherit the 409-hp twin-turbo 3.5-liter V-6 with electric supercharger from the G90 sedan rather than the 375-hp twin-turbo V-6 in the current GV80 lineup.More on the GV80Design boss Luc Donckerwolke said at the reveal that “design is brand, and brand is design.” We agree, and it’s easy to see why Genesis has been on the rise of late. Although this concept moves the GV80 in a decidedly sportier direction, Donckerwolke said the company doesn’t intend to create a sporty sub brand for such a vehicle. We expect to see a production version soon.Director, Vehicle TestingDave VanderWerp has spent more than 20 years in the automotive industry, in varied roles from engineering to product consulting, and now leading Car and Driver’s vehicle-testing efforts. Dave got his very lucky start at C/D by happening to submit an unsolicited resume at just the right time to land a part-time road warrior job when he was a student at the University of Michigan, where he immediately became enthralled with the world of automotive journalism. More

A 2003 Toyota Tacoma that’s been restored and modified is up for auction on Bring a Trailer until Friday, April 7.Along with a repainted body and replaced frame, this fresh first-generation Tacoma features genuine bronze TRD wheels. Its other tasteful mods include an upgraded front suspension, a grille guard and rock rails, and a steel rear bumper with a swing-away tire carrier.Car and DriverDuring its nearly 30-year history, the Toyota Tacoma has become synonymous with off-roading. Its status in those circles has steadily grown since the first generation debuted for the 1995 model year, and the 2003 Tacoma SR5 double cab that’s being auctioned off on Bring a Trailer—which, like Car and Driver, is part of Hearst Autos—is a tastefully modified example that epitomizes the Taco’s ethos.Fresh TacoThe ’03 Tacoma listed on BaT looks as minty as it does due to a fresh coat of paint, which was known as Impulse Red from the factory. It has a color-matched bed cap with a roof basket on top that’s fitted with perimeter LED lights. The truck also has a replaced frame that’s said to be sourced from a 2004 model and then coated in POR-15 to help protect from rust.Bring a TrailerContributing to this Tacoma’s freshness is an updated suspension. Not only does it feature upgraded front upper control arms, but they mate with a new set of Fox 2.0 coil-overs. The truck’s solid rear axle is also buoyed by enhanced shock absorbers and a leaf-spring kit that raises the ride height.There aren’t any explicit changes to the Taco’s drivetrain or powertrain. With around 89,000 miles on the clock, it features a four-wheel-drive system paired with a five-speed automatic transmission and a 3.4-liter V-6 that was rated at 190 horsepower and 220 pound-feet of torque when new.Taco DressingsWhat makes this Taco truly tasty is its myriad modifications. The bronze-painted 17-inch TRD wheels with simulated beadlock rings perfectly complement its red paint. They’re mounted on a set of BFGoodrich All-Terrain T/A K02s, sized 265/75R-17. There’s also a spare mounted on the rear tire-carrier that shares space with a hi-lift jack and extra fuel tanks. Bring a TrailerThe rear assembly swings open for easy access to the covered cargo bed. Below it is a steel bumper with red tow hooks. Further body protection is provided by third-party rock rails and a full-length front grille guard with an integrated light bar. The prominent front skid plate is just one of several underbody pieces designed to take abuse from rocks and such.Inside, the Taco’s throwback design reminds everyone this truck is from the 2000s, but the charcoal upholstery looks clean and the dashboard is said to have been refinished to fix previous sun damage. For folks who don’t want to deal with cassette tapes or CDs, this 2003 example features a Pioneer stereo system with SiriusXM satellite radio and access to Spotify music. The unit also acts as the display for the backup camera.Bring a TrailerAs of this writing, the 2003 Toyota Tacoma SR5 double cab on Bring a Trailer currently has a bid of $17,000. The auction is set to end on Friday, April 7.Taco News You Can UseThis content is imported from poll. You may be able to find the same content in another format, or you may be able to find more information, at their web site.Senior EditorEric Stafford’s automobile addiction began before he could walk, and it has fueled his passion to write news, reviews, and more for Car and Driver since 2016. His aspiration growing up was to become a millionaire with a Jay Leno–like car collection. Apparently, getting rich is harder than social-media influencers make it seem, so he avoided financial success entirely to become an automotive journalist and drive new cars for a living. After earning a degree at Central Michigan University and working at a daily newspaper, the years of basically burning money on failed project cars and lemon-flavored jalopies finally paid off when Car and Driver hired him. His garage currently includes a 2010 Acura RDX, a manual ’97 Chevy Camaro Z/28, and a ’90 Honda CRX Si. More

What’s it like owning the slowest BMW M3 you can buy new? You might be surprised. As you might have already read in our long-term conclusion, our 2022 BMW M3 hit the sweet spot over our 40,000-mile test, delivering plenty of driving satisfaction and few, if any, issues. What few criticisms we had about the steering feel or the design of the fascia were overwhelmed by the feeling of routing 473 horsepower to two rear wheels via a six-speed manual transmission.play iconThe triangle icon that indicates to playIn the video, we dive deeper into the driving experience, explaining how the simple act of interacting with a manual transmission makes any time you’re behind the wheel more interesting. We also cover what it was like to live with during winter and how difficult (and expensive) it was to source winter tires. Other topics include the positive attention our M3 received and how quickly it wore through rear tires. Okay, maybe that last one was our fault for trying to achieve a five-star drift rating from the M3’s M Drift Analyzer feature (we only ever managed four and a half). While we expected the tire wear, the wear marks on the top of the front brake calipers were a surprise. In the video, we delve into a few potential causes.Overall, our M3 proved a reliable machine that enjoyed devouring miles and miles of interstate. There are certainly quicker and more powerful—and much pricier—variants, but our time with this Isle of Green M3 certainly delivered the most fun. Multiple MsDeputy Editor, VideoFrom selling them to testing them, Carlos Lago has spent his entire adult life consumed by cars. He currently drives the creative behind Car and Driver video. More

The next-generation Maserati Quattroporte will spawn an EV variant called Folgore, as first reported by AutoCar.It will replace the current Ghibli and Quattroporte and serve as Maserati’s sole sedan offering.We expect it to arrive for the 2025 model year in the U.S.Today Maserati has two sedans—the smaller Ghibli and the larger Quattroporte—but a single model will replace the pair to compete in the sedan landscape that includes the BMW 5-series, the Audi A6, and the Mercedes E-class. The Quattroporte nameplate (it literally means “four doors”) wins out over the Ghibli. Sorry, not sorry, Ghibli.We can hear you saying, “Is a Maserati sedan really worth waiting for?” Yes. Well, assuming it’s done right. But after our recent exposure to the GranTurismo, we’re confident the new Quattroporte will deliver. The current cars feel a bit too Fiat-Chrysler, like the investment was made only for the trident grille and not for exceptional engineering or dynamics. There is a lot of passion associated with Maserati, and the new QP may refire those passions.More New MaseratisLike the new GranTurismo, the Quattroporte will offer a twin-turbo 3.0-liter V-6 engine in at least two states of tune. Call it around 480 horsepower to start and 540 horsepower at the top. The highest-priced model, the Folgore, will offer an 800-plus-hp experience with three electric motors. Unfortunately, the V-8 may die out with the current Quattroporte.The interior will also mimic the GT: lots of leather (some quilted), sporty seats, and Uconnect-based infotainment. Maserati won’t crib the new QP’s switchgear from Dodge this time around—a must for a car that will start around $150,000. Maserati’s SUVs are selling well, but we’re glad it remains committed to making cars.This content is imported from poll. You may be able to find the same content in another format, or you may be able to find more information, at their web site.Executive EditorK.C. Colwell is Car and Driver’s executive editor, who covers new cars and technology with a keen eye for automotive nonsense and with what he considers to be great car sense, which is a humblebrag. On his first day at C/D in 2004, he was given the keys to a Porsche 911 by someone who didn’t even know if he had a driver’s license. He also is one of the drivers who set fast laps at C/D’s annual Lightning Lap track test. More

Ford has announced that the 2024 Mustang will get an optional drift brake—basically a hydraulic hand brake for the rear wheels.To get one, Mustang buyers will need to choose the Performance Pack with its included Performance Electronic Parking Brake.We know that Formula Drift champion Vaughn Gittin, Jr., was involved in this feature’s development; we don’t know yet how much extra it will cost.As the seventh-generation Ford Mustang inches closer and closer to production, the trickle of information out of Ford has resumed. The Dearborn-based brand has just unveiled a braking feature that will help young would-be drifters hone their skills—in a closed course, of course. Ford calls it a drift brake, but it’s essentially a hydraulic hand brake for the rear wheels. (We know there is a joke about a Mustang losing control in a crowd-pleasing drift; stand by.) The drift brake comes on Mustangs equipped with the Performance Pack that also includes the Performance Electronic Parking Brake (PEPB, henceforth). The PEPB looks like a normal hand lever for the parking brake, but it is actually an electronic switch. There is no cable connected to the rear brakes like you’d see in most late-model cars. Instead, its normal action activates an electronic parking brake. But when you activate the drift brake, it takes on another role. Ford Motor CompanyWhen turned on, the drift brake overrides the stability-controlled controller—the device that controls all the brakes when ABS or stability control is activated—to lock the rear brakes with hydraulic line pressure. Pro drift cars have a similar system, but theirs is a mechanical lever. Ford Motor CompanyWhy not use the hand brake like you’ve been doing since the 1980s in a Fox-body? Well, you can, but old cable-actuated parking brakes use either shoes in the hat of a disc brake, a totally separate and tiny caliper, or they use a mechanical system on top of the hydraulic rear sliding calipers. None of those are intended to be pulled multiple times at speed.This content is imported from youTube. You may be able to find the same content in another format, or you may be able to find more information, at their web site.’24 Mustang: Developing The Electronic Drift Brake | Ford PerformanceWatch onYouTube IconYouTube IconFord released this video of pro drifters Vaughn Gittin, Jr., and Chelsea DeNofa discussing the ins and outs of tuning the drift brake. At one point you can hear “100 bar” mentioned. This is a direct reference to hydraulic line pressure, but we’re guessing that’s far from the maximum available to the drift brake because this isn’t the first time Ford has used the magic of computers to emulate a hydraulic hand brake. Ford Performance formerly sold the Drift Stick for the Focus RS (RIP). Its similar function used a separate lever that bolted into the cabin. The Drift Stick, which is no longer available from Ford, delivered about 180 bar to the rear brake calipers of the Focus.More Specs, DetailsKudos to Ford for developing a fun feature targeted at the enthusiast market. We guarantee some will get it super wrong at first, so if you get a 2024 Mustang, just make sure you practice when no one is around before you try to show off for a crowd. There it is. Executive EditorK.C. Colwell is Car and Driver’s executive editor, who covers new cars and technology with a keen eye for automotive nonsense and with what he considers to be great car sense, which is a humblebrag. On his first day at C/D in 2004, he was given the keys to a Porsche 911 by someone who didn’t even know if he had a driver’s license. He also is one of the drivers who set fast laps at C/D’s annual Lightning Lap track test. More