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 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. are now grappling with payments of $1,000 or more – a far cry from what most would consider affordable. in Q3 and 7.4%
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