Edmunds’s latest auto finance report finds average monthly payments passed the $750 mark in the fourth quarter, corresponding with an average amount financed in excess of $42,000. +

Chairman Jerome Powell said interest rate reductions would slow next year while announcing an expected quarter-point cut to end 2024 with a target range of 4.25% to 4.5%. +

The Federal Reserve’s recent rate cuts in addition to an increase in automakers’ incentives are helping to stabilize the auto market, a good sign for dealers and consumers. WardsAuto's Nancy Dunham reports.+