The affordability index from Cox/Moody's hit another peak, with monthly payments averaging a record $748, and the average new vehicle price reaching $48,281. Graphic: Cox AutomotiveNew-vehicle affordability declined again in October with auto loan rates reaching a 20-year high as prices increased slightly, according to the lateset Cox Automotive/Moody’s Analytics Vehicle Affordability Index released Nov. 15. That resulted in the estimated typical monthly payment increasing by 1.1% to $748, a new record high. Supporting affordability, median income grew 0.4%, and incentives from manufacturers increased, but all other factors moved against affordability. Background News: New Vehicle Prices Top Records Five Months in a RowOriginally posted on Vehicle Remarketing