Summary
Rising vehicle prices and high interest rates have pushed U.S. auto loan debt to a record $1.68 trillion, creating growing financial pressure for millions of Americans. Reports show average monthly car payments now range from about $680 to more than $770, while longer seven-year loans have become increasingly common. Nearly 86 million Americans carry auto debt, and many borrowers struggle with negative equity and missed payments. Experts warn that expensive financing and inflated car prices are turning vehicles into long-term financial burdens instead of practical assets. Analysts urge buyers to prioritize affordability, shorter loan terms, and realistic budgets before committing to another vehicle purchase.
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