Summary
Rising vehicle costs are pushing average car payments to record levels in 2026, making ownership harder for many Americans. According to data cited by Family Handyman, the average new-car payment has climbed to about $777 per month as buyers face higher prices, larger loans, and longer repayment terms. Nearly one-quarter of new vehicle buyers are choosing loan terms of 84 months or longer to manage expenses. Experts warn that stretching payments can increase long-term financial pressure. With auto debt exceeding $1.6 trillion, consumers are reconsidering purchases and searching for more affordable transportation options.
Family Handyman
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