The $1,000 Car-Loan Payment: Higher Prices, Interest Rates Push Up Monthly Costs
Share
Consumers have never paid more to finance their cars.
Monthly payments on loans given out in June to buy a new car averaged an all-time high of $686, according to car-shopping site Edmunds, whose data go back to 2005. That is up 4% from January and 13% above a year ago.
A growing share of people are paying much more. A record 12.7% of new-car buyers who signed up for a loan in June have a monthly payment of at least $1,000, according to Edmunds.
Read more from The Wall Street Journal
RELATED TOPICS:
CA Has Seen Many New Towns, but This Big Project Is Stalled
Opinion /
2 hours ago
Fresno Man Sentenced to 29 Years for Sexually Assaulting Children and Dog
Crime /
14 hours ago
Bulldogs’ Two-Position Standout Tommy Hopfe Signs With Rockies
Sports /
14 hours ago
Former Bulldog QB Jake Haener: I Have a ‘Rare Form of Skin Cancer’
Sports /
15 hours ago
The Many Names of GOP Vice Presidential Nominee JD Vance
Latest /
16 hours ago
Jack Black, a Small Dog With a Big Heart, Is Looking for His Forever Home
In October last year, a heartwarming tale of resilience and recovery began in the unlikeliest of places: a crate abandoned in an alley. This...
Animals /
1 hour ago
Categories
Latest
Videos
Animals /
1 hour ago
Jack Black, a Small Dog With a Big Heart, Is Looking for His Forever Home
Food /
2 hours ago
What Italian Grandmothers Can Teach You About Healthy Eating
Opinion /
2 hours ago
CA Has Seen Many New Towns, but This Big Project Is Stalled
Crime /
14 hours ago
Fresno Man Sentenced to 29 Years for Sexually Assaulting Children and Dog
Sports /
14 hours ago