Conversation

The average new car payment just hit $772/month. A record high.

4-year car loans used to be normal. Now buyers are stretching payments to 6, 7, and even 8 years.

1 in 5 financed new-car buyers pays $1,000+ a month.

That’s not a car payment anymore. That’s a second rent check.

Rent is up. Insurance is up. Food is up. Student loans are back. And the average new car is close to $50,000.