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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."

avatar
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“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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