Buying a new car in the U.S. has never been more expensive

The cost of new wheels in the U.S. is getting more expensive seemingly by the month. The average price Americans paid for a new vehicle in August hit a record high of $48,301, according to automotive research company Kelley Blue Book. 

August marks the fifth-straight month that car prices have climbed to record highs, Kelley Blue Book said. And prices are likely to continue rising because demand for new vehicles is unusually high while inventories are low compared to previous years, experts told CBS MoneyWatch.

"I see nothing but increases for quite some time," said Ivan Drury, senior manager of insights at Edmunds. "And it's horrible because, unless you can wait it out, you're going to end up paying a premium."