1 In 5 New Car Buyers Took On $1,000+ Monthly Payments In Q4
Carscoops
JANUARY 11, 2025
Used car loans average $28,675 with more manageable $533 payments but sky-high 11% APRs. With the cost of financing skyrocketing, analysts are advising potential buyers to consider alternatives, such as used cars or new EV leases, to keep their budgets in check. last quarter, down from 7.1% in Q3 and 7.4%
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