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A $1,000 Monthly Car Payment Is Becoming Increasingly Normal

02 Jul 2022 | Abstracted from Jalopnik

"Twelve percent of buyers who purchased new cars in June will pay four figures every month, according to new data from Edmunds by way of Axios. That’s roughly three times the number of owners on the hook for similar monthly payments in June of 2019. Given that the average monthly payment now sits at $712...36.1% of consumers who financed a new car purchase in June 2022 opted for a loan term of between 73 and 84 months..."


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