One in five new car buyers pay $1,000 or more per month
The average financed new-vehicle purchase is $44,156, a new all-time high.
This has forced many car buyers into large loans, with one in five drivers paying $1,000 or more per month on their car loan in Q2 2026.
Used-car buyers are also affected, with the average amount financed being $30,414, resulting in 6.3% of used-car buyers paying $1,000 or more per month.
High car debt can hinder long-term wealth building, making it harder to save money.