New-car buyers face $806 average monthly payments as 84-month loans rise

6 articles · Updated · The Autopian · Apr 24

In Q1 2026, 13% of buyers opted for 84-month loans, up from 7.3% in 2019, with average new-car prices at $45,800.
Nearly 20% of buyers now pay over $1,000 monthly, while subprime loans hit a decade high at 11%. Dealer profits and total consumer spending on new cars have both declined.
Longer loan terms carry higher interest rates, and rising fuel costs, partly due to the Iran conflict, further strain affordability, especially for lower-income buyers as loan delinquencies increase.

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