The average monthly car loan payment in the U.S.
was $530 for new vehicles and $381 for used ones originated in the third quarter of 2018, according to credit reporting agency Experian.
The average lease payment was $430.
If those figures seem high, that’s because they are — and they’re all up year over year.
What is the average car payment in 2019?
The average monthly car payment was $554 for a new vehicle and $391 for used vehicles in the U.S. during the first quarter of 2019, according to Experian data.
How much should I spend on a car payment?
According to the 36% rule, it isn’t wise to spend more than 36% of your income on loan payments, including car payments. Another rule of thumb says that drivers should spend no more than 15% of their monthly take-home pay on car expenses.
Is a 84 month car loan bad?
At the beginning of an 84-month auto loan — especially if you don’t give a down payment — your car is probably worth more than what you’re paying monthly for it. And at the end of the loan, your car is probably worth less than what you’re paying for it.