Americans Are Paying a Record $717 a Month for New Cars – bloomberg.com
Craig Trudel l 6 January 2023, 12:00 GMT
Americans are agreeing to bigger monthly payments on new-car loans than ever before, with the average climbing to $717 in the fourth quarter, up 50% from 2010, according to car-shopping researcher Edmunds. Almost 16% of consumers who financed a new vehicle in the last three months agreed to at least $1,000 monthly payments. That’s up from 10.5% a year earlier and just 6.7% in the fourth quarter of 2020.