1 In 5 New Car Buyers Took On $1,000+ Monthly Payments In Q4
Carscoops
JANUARY 11, 2025
Average loan terms stretched to 68.8 Used car loans average $28,675 with more manageable $533 payments but sky-high 11% APRs. Read: 92% Of EV Owners Will Never Go Back To ICE-Only, New Study Finds Data published by Edmunds reveals that the average loan term in Q4 2024 reached 68.8 New car loans now average $42,113, with 18.9%
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