1 In 5 New Car Buyers Took On $1,000+ Monthly Payments In Q4
Carscoops
JANUARY 11, 2025
months as down payments fell to $6,856 last quarter. 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.
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