CHAMPAIGN, Ill. (WCIA) — “They’re all going up, it doesn’t matter if its 10 years old or if it’s brand new, the price is much different than it was five years ago,” Tyler Teague of Norris Tire and Auto Center said.

Car experts will tell you the pandemic took a toll on their industry. Tyler Teague, General Manager at Champaign’s Norris Tire and Auto Center says it’s led a lot of people to keep their current cars instead of buying new ones.

AAA reports the average cost to own and operate a car in 2022 is more than $10,000 a year.

“Car prices have gone through the roof because of Covid, there was a shortage of cars, so people are keeping their cars longer,” Rafael Rivera of Norris Tire and Auto Center said.

The Federal Reserve continues to raise the federal funds rate which is also having a rippling effect on auto loans. The average cost of a new car is above $48,000, leading to high monthly payments.

“The average car payment has gone up, I say it’s going to be anywhere from $500 and $700,” Rivera said.

Rafael Rivera says the average car on the road is about 12 years old.

“You want to get your car checked regularly, serviced regularly,” Rivera said, to help avoid those higher costs down the road. Something Rivera says he prioritizes.

“I’m all about maintenance, maintenance, maintenance, take care of your car. You take care of your car; it’s going to take care of you,” Rivera said.

Teague is hopeful things will get better.

“It’s nothing we need to throw a towel in on the dealership or the car manufacturers or on old cars, we just wait it out,” Teague said.