Consumer News The Average Car Payment Is At A Record High

Sticker shock pushes shoppers out of new-car market as affordability crisis deepens

New car prices hit record highs with average monthly payments reaching $766, while used car inventory shortages offer little relief for struggling buyers. Read More

Here's why car payments are so high right now

Car payments have skyrocketed in recent years due to a combination of high prices and high interest rates. While some relief may come soon, industry insiders say prices may still remain high for quite ... Read More

Americans are done with sky-high car prices

After years of record sticker prices and punishing monthly payments, the U.S. car market is finally colliding with consumer resistance. Shoppers are stretching their budgets to the limit, and many are ... Read More

Average new car price hits $50,000, a record high, data shows

The average monthly car payment is $749, according to experts. The average price of a new car was $50,080 in September, marking the first time the going rate of a passenger vehicle has exceeded ... Read More

Car payments hit $1,000 as buyers stretch loans to seven years

As car buyers face mounting affordability pressures, a significant shift is occurring in the automotive financing landscape. Increasingly, consumers are committing to monthly car payments exceeding $1 ... Read More

More Americans are falling behind on their auto loan payments. Here's why.

Americans continue to fall behind on auto loan payments in the face of record-high car prices and high interest rates. A recent study by VantageScore found that auto loan delinquency rates have ... Read More

New car prices top $50,000 on average for the first time ever

Kelley Blue Book reports that the average sale price of a new vehicle has hit a record high over $50,000 Rising new car prices have consumers looking at the used market more closely The average ... Read More

Late Car Payments Are Piling Up at Record Levels as More Drivers Face Delinquency

U.S. subprime auto delinquencies reached 6.65% in October, according to Fitch Ratings, which has tracked the data since the early ’90s. Money; Getty Images Americans are falling behind on auto loan ... Read More

The average new car price breaks $50,000 for the first time

The average new-vehicle price in the U.S. surpassed $50,000 for the first time in September. Electric vehicles hit record highs in both sales and market share, despite elevated prices. Rising luxury ... Read More

Consumer spending is the U.S. economy's main driver. Here's how it's doing

NPR's Ayesha Rascoe talks to Bankrate analyst Ted Rossman about consumer spending and debt, and what it tells us about the overall health of the economy. Read More