Record Number of People Are Making Monthly Payments of $1,000 or More for Their Cars

A $1,600 car-loan payment? Sounds ‘absurd,’ but it’s becoming more common.

Record number of people are making monthly payments of $1,000 or more for their cars

How much are you willing to spend on a new ride? According to the car shopping site Edmunds, the amount of people paying more than $1,000 monthly for a new vehicle has reached record highs.Edmunds said 1 in 5 people have committed to at least $1,000 per month on a car payment during the second quarter of this year. While some budgets can handle that type of spending, a financial expert said others should consider their options. Joy Fugghett said…

Car buyers set a record with more than $1_000-a-month car payments in Q2

Everything you need to know about buying, selling a car online Here are some easy ways to determine how much your car is worth. Problem Solved Nearly 20% of car buyers agreed to monthly car loan payments of $1,000 or more.A record number of car buyers are taking out 84-month loans to make their monthly payments more affordable.Some dealers see a different trend as leasing remains popular. Car buyers nationally set a record in the second quarter …

Monthly car payments hit $745 as EV credits end

A Record 1 in 5 New-Car Shoppers Committed to a $1,000+ Monthly Payment in Q2 2025