Americans Fall Behind on Car Payments at Highest Rate in Decades

[MichMan]

3. Nearly 1 in 5 are making payments of $1,000 or more

It’s becoming increasingly expensive to buy a new car.

In fact, a record number of new-car buyers — nearly 1 in 5 — are making payments of $1,000 or more, according to Edmunds. For a household earning the U.S. median income of $80,610, a $1,000 car payment would take up 15% of pre-tax income, before factoring in the cost of insurance, gas or maintenance.

https://www.cnbc.com/2025/03/08/a-new-car-costs-nearly-50000-heres-how-much-youd-pay-per-month.html?&qsearchterm=A%20new%20car%20costs%20nearly%20$50,000%20on%20average:%20Here%E2%80%99s%20how%20much%20you%27d%20pay%20per%20month