From Road & Track · Emmet White · · 1m
New Car Payments Hit $787 Monthly
U.S. car loans now average $787 monthly with 25.5% stretching to 84+ months.
In brief
U.S. car loans now average $787 monthly with 25.5% stretching to 84+ months. American new car buyers now finance 25.5% of vehicles for 84 months or longer at record $787 monthly payments. Originally reported by Road & Track.
U.S. Car Financing Trends
New Edmunds data shows 25.5 percent of new vehicles financed in Q3 2026 have loans of 84 months or longer.
Record Monthly Payments
Average monthly payment on new vehicles rose to $787 in Q3 2026, a $31 increase from Q2 2026.
Loan Terms Stretch
25.5 percent of new vehicles financed in Q3 2026 have loans of 84 months or longer, a 1.6 percent increase from Q2 2026.
High Interest Payments
Third-quarter car buyers projected to pay $9,938 in interest over the life of a financed new vehicle.
Financial Advice
Edmunds director Ivan Drury warns that stretching loans may not be wise without considering total cost.
Consumer Impact
21.2 percent of new-car buyers commit to monthly payments over $1000 in Q3 2026.
The headline
American new car buyers now finance 25.5% of vehicles for 84 months or longer at record $787 monthly payments.
