Overview
- Average monthly payments reached about $760 in November as typical new-vehicle prices climbed past $50,000, according to J.D. Power.
- Nearly 30.5% of new-car buyers took 72-month or longer loans in Q3, 85–96 month loans rose to 1.61% through October, and some contracts now exceed 100 months.
- Total U.S. auto-loan balances hit roughly $1.66 trillion, with delinquencies near 15-year highs and Federal Reserve data tying strains to high payments.
- Automakers have pulled back from sub-$30,000 models, while buyers shift to lower-priced trims; Ford’s Maverick sales jumped 43.3% in November and Jeep cut prices, helping lift its recent quarterly sales by 11%.
- The White House instructed regulators to clear a path for smaller, lower-cost cars that currently fail to meet U.S. safety standards, signaling a push on affordability.