Summary
Average monthly payments for new vehicles in the U.S. climbed to a record $770 in the first quarter of 2026, highlighting worsening affordability despite easing interest rates. Rising vehicle prices and larger loan balances continue to push borrowing costs higher, while outstanding auto loan debt has surged to nearly $1.7 trillion over the past decade. Borrowers with lower credit scores face the steepest monthly payments, and many consumers are stretching loan terms to manage costs. Analysts say persistent inflation, expensive vehicles, and growing debt burdens are keeping car ownership out of reach for many Americans.
Fox Business
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