That new car smell may be appealing, but it's going to cost you. Vehicles fresh off the production line frequently come equipped with impressive features and sleek aesthetics, but the investment isn't always all it's cracked up to be. 

New cars are too expensive for many
According to recent data, the average cost of new vehicles went up in the month of November. Kelley Blue Book found that prices increased 1.7 percent from the same time in 2013. In fact, they've even grown since October of this year, with the average cost jumping $568, or 0.5 percent.  

At the same time, incentives have gone down, limiting the opportunities buyers have to save. Cars.com reported that incentive spending decreased 1.5 percent from October to November, marking the third straight month that these savings have shrunk. 

"Rising transaction prices are a reflection of stronger pricing in truck and utility segments," said Alec Gutierrez, senior analyst for Kelley Blue Book. "Domestic automakers will be the main beneficiaries of this trend, as full-size pickup prices are up by an average of 4.3 percent, with the Big Three [Ford, General Motors and Chrysler] making up 94 percent of segment sales."

Used vehicles provide value
Although the cost of new cars continues to rise, there is some good news for drivers: They can find used cars that offer plenty of savings without a huge drop in quality. USA Today reported that more people looked to used cars in November in the hopes of finding some good investments. As a result, some expenses are going up, but not nearly enough to rival new models. 

Many drivers are finding that used cars boast a ton of perks. In addition to being less of a strain on the wallet than their counterparts, these vehicles offer many similar safety features and tech capabilities. When taken care of correctly and treated with the proper maintenance, used cars present a worthy choice for motorists.  

Anyone looking for a great deal on used cars should head over to NJ State Auto Auction. This lot is home to hundreds of Carfax-certified cars, trucks and vans, allowing drivers to select the perfect fit for their needs. It even has an in-house financing team whose mission is to secure loans and get you behind the wheel quickly.