Average Monthly Auto Loan Payments: 2022 Statistics

Average Monthly Auto Loan Payments – With prices rising in the economy, both new and used cars are becoming expensive. How much will you likely pay your average monthly auto loan payment?

One of the biggest expenses after buying a vehicle is keeping up with your monthly car loan payments! Although the loan amount varies based on several factors ( such as credit score, APR, loan term, etc. ), the most important is the price of the vehicle.

In recent quarters, the prices of new and used vehicles have skyrocketed. What effect has that had on average auto loan payments in the US? Let’s take a quick look.

Average Monthly Car Payments: Statistics at a Glance

According to vehicle valuation and pricing service Edmunds, here are the most important stats you need to know so far:

Average monthly auto loan payment for NEW VEHICLES increased from €639 (Q4 2021) to €648 (Q1 2022)
The average monthly auto loan payment for USED VEHICLES also increased from €524 (Q4 2021) to €538 (Q1 2022)
The average total loan amount to buy a NEW VEHICLE increased from €35,040 (Q4 2021) to €39,340 (Q1 2022)
The average total loan amount to buy a USED VEHICLE also increased from €23,958 (Q4 2021) to €39,830 (Q1 2022)