# Car Loans Growing Longer And Bigger

> New car buyers now take out loans over $45,000 with payments of $1,000+.
- Title: Car Loans Growing Longer And Bigger · Motor1 | Shortify
- Summary: New car buyers now take out loans over $45,000 with payments of $1,000+. New car buyers increasingly finance vehicles with loans over $45,000 and monthly…
- Keywords: edmunds, new car loans, monthly payments, loan terms, car financing, interest rates, cars, Car, Loans, Growing, Longer, Bigger
- Source: Motor1 — https://motor1.com/news/811214/new-car-loans-finance-payments
- Author: Anthony Alaniz
- Published: 2026-10-08T15:59:14+00:00
- Read time: 1 min
- Topics: edmunds, new car loans, monthly payments, loan terms, car financing, interest rates, cars
## New Car Loan Trends
More than 21 percent of new car purchases now have monthly payments of at least $1,000.
## Loan Amounts Rising
Borrowers took out larger loans last quarter, averaging $44,664, up from $42,744 a year ago.
## Longer Loan Terms
Just over a quarter of new-car buyers finance vehicles for 84 months or longer, up from 21.8 percent a year ago.
## Higher Monthly Payments
The average monthly payment rose to $787 last quarter, up from $756 a year ago.
## Four-Figure Payments
21.1 percent of financed purchases last quarter had monthly payments of $1,000 or more.
## Hidden Costs
Longer loans cost buyers more interest, with average total interest over the life of the loan at $9,938.
## Key takeaway

New car buyers increasingly finance vehicles with loans over $45,000 and monthly payments of $1,000 or more.