PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Loans
Car Loan
Compare Car Loans with Jerry
Jerry's Expert Advice
Car Loan Guides
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
What’s the average car payment?
How much is the average monthly car payment for people in the US? I’m thinking about buying a new car and before I get too excited about it, I want to make sure that it’s within my budget.
Liz Jenson · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
It’s great that you’re thinking practically about this. In the US, the average monthly car payment is $609 for new cars and $465 for used cars. However, there are a lot of factors that can influence your car payment prices, including:
- Your credit score
- The size of your downpayment
- The term length of your loan
If you get a
used car
with a long loan term, for example, you’ll have a lower monthly payment. However, you’ll also be hit with a higher interest rate, so you’ll pay more for your loan over time!Remember that there are other new car expenses—like car insurance. Check out the
Jerry
app to see a list of car insurance quotes that work for you in minutes. The average user saves $887 per year.View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance for Your Car
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies
