Study: Car Buyers Wanted Tech-Filled Cars... But Now They Can't Afford Them

A study described in this report finds that car buyers wanted tech-filled vehicles, but rising costs now make them harder to afford. Citing a Cox Automotive analysis, it says features consumers demanded over the past decade have become standard, yet the added equipment has coincided with higher prices while household budgets face pressure. The report argues affordability challenges are not tied to a single cause: higher interest rates, rising insurance premiums, elevated maintenance costs, and broader inflation are all contributing. To illustrate the technology shift, Cox compares the Honda CR-V: a 2016 CR-V LX averaged $27,761 in transaction price versus $38,778 for the 2026 model, with an inflation-adjusted difference of about $478. During the same period, the newer CR-V added items such as a turbo engine, larger touchscreen, wireless Apple CarPlay, push-button start, and Honda Sensing as standard. The biggest remaining hurdle is financing, with average new-car loans around 69 months and growing use of seven-year terms.