U.S. New-Car Buyers Set 24% Record for 84-Month Loans as Prices Near $52,000
Updated
Updated · Road & Track · Jul 6
U.S. New-Car Buyers Set 24% Record for 84-Month Loans as Prices Near $52,000
2 articles · Updated · Road & Track · Jul 6
Summary
24% of U.S. new-car buyers took 84-month-or-longer loans in Q2 2026, an Edmunds record that underscores how buyers are stretching to afford vehicles.
Nearly $52,000 average new-car prices, $777 monthly payments and a higher average financed amount of $44,156 pushed borrowers toward longer terms even as average down payments fell to $5,815, or 11.6% of price.
36.5% of buyers chose loans of 73 months or longer, up from 27.3% a decade ago, while 0% APR deals shrank to just 1.2% of new-vehicle sales.
Negative equity is worsening the strain: the typical buyer in Q1 owed $7,813 more than a trade-in was worth, and Edmunds said a 7.0% APR over 84 months can mean nearly $10,000 in interest.
Used-car buyers are also under pressure, with the share paying more than $1,000 a month hitting a record 6.2% and the average used-vehicle loan rising to $30,414.