What is the average car payment in the U.S.?
What is a normal car payment in the U.S.? I know that the amount you pay on a car loan has many factors. But I want to know what other people are paying as well.
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Answered on Jun 29, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
“The average car loan payment per month is $397 for used vehicles, $450 for leased vehicles, and $563 for new cars.
Keep in mind that these numbers will change based on:
- credit score
- interest rate
- length of the loan
Comparing your own payment to these probably isn’t the best method to find out if you’re paying the right amount. Always shop around to find out.
Also remember to factor in the cost of car insurance. You can use a smart comparison shopping tool like Jerry to ensure you’re getting the best rate.”
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