You might have heard that buying a car right could come with a hefty price tag. Whether new or used, car prices are unusually high and the supply is limited.

"There simply isn't a lot of inventory out there and dealers are kind of taking advantage of it, and charging as much as they can possibly get away with right now," said Mike Quincy, Automotive Writer for Consumer Reports.

Quincy says the core of the problem is the global chip shortage.

"People think microchips, why is that such a big deal... there's anywhere from 30 and 100 microchips in every new car," said Quincy. "These microchips operate anything from window motors to heated seats."

Quincy says the average price for a new car is roughly $47,000.

"The advice is... If you can possibly put it off, try to put it off because the prices have never been higher," said Quincy.

So what can you do if you absolutely need a new ride? We spoke with Consumer Reports to find out how you can get the car you need at a price you can afford. Consumer Reports just revealed its list of Top Car Picks for 2022, with several models under $35,000. To be included in this list, Consumer Reports says vehicle models must meet their highest standards for performance, safety, and reliability. Plus, top picks also must come standard with forward collision warning and automatic emergency braking with pedestrian detection.

"If you want a sedan, definitely check out the Nissan Sentra, that's our top pick for compact cars," said Quincy. "A small SUV; the Subaru Forester is our top pick."

What if you're shopping for a used car? Quincy says the best thing you can do is do your research and shop around.

"These days, used car prices are still really high and you might end up getting a better new car for the same price as a three-year-old used car," said Quincy.

Quincy adds that it really comes down to being open-minded about what you're looking for.

"If you grew up in a household that says we're a Chevy family or a Toyota family, and you want to go out and buy a car say a sedan, be flexible," said Quincy.

For the complete list of Consumer Report's Top Car Picks for 2022, you can click here.