New car prices may soon start coming down — but get ready to pay more in interest
New car prices may finally start declining in the coming months — but don't expect to pay much less on a monthly basis due to higher interest rates. "To our clients who refused to pay above sticker for a new car, your patience is about to pay off," wrote Morgan Stanley chief auto analyst Adam Jonas in a note to clients on Monday. Thanks to stalling sales and a 17-month high in vehicle supplies , "deflation" may finally be arriving for new car prices , Jonas said. In a separate report released Sept. 28, J.D. Power also predicted lower list prices could come in the coming quarters thanks to rising interest rates , higher vehicle availability and worsening economic conditions that are likely to affect overall demand. The declines, whatever they look like, would be welcome for car shoppers. According to J.D. Power, new vehicle prices remain near record levels: In September, the average transaction price was expected to reach $45,622 — a record for the month, a 6.3%...