The average price of a new vehicle in the U.S. hit a new record this week at $25,977, according to the National Association of Realtors.
That’s a 17 percent jump from last week.
The average monthly rental cost jumped to $1,867, up 15 percent from a year ago.
The average price for a car rental rose 17 percent to $21,749, according, according NAR.
The median monthly rental price rose 19 percent to about $6,000.
And the average annual rent went up to about 799, up 6 percent from last year.
The news comes as the number of people who have insurance on their cars is rising.
Insurance costs in the United States are up 5 percent from the same period last year, according the National Conference of State Legislatures.
That includes rising deductibles and premium increases.
In addition, the National Highway Traffic Safety Administration reported Friday that there were nearly 17 million vehicle-related crashes in 2016, a 20 percent increase over 2015.