Average Car Payment in 2026: New vs Used Statistics
By Shawn Cruze · Published October 6, 2026 · Updated October 6, 2026 · 8 min read
Quick answer: In Q2 2026, the average car payment was $765 a month for new cars and $542 a month for used cars, according to Experian’s State of the Automotive Finance Market. That is about $223 more per month to finance a new vehicle than a used one. Below are the loan amounts, interest rates, terms, year-over-year changes, and credit-score breakdowns — every number named to a free public source.
Average Car Payment 2026 at a Glance
The headline car payment statistics for Q2 2026 are $765 new and $542 used. New borrowers also take on larger loans at lower average APRs and slightly longer terms.
| Metric | New cars | Used cars |
|---|---|---|
| Monthly payment | $765 | $542 |
| Average loan amount | $43,610 | $27,852 |
| Average interest rate (APR) | 6.35% | 11.19% |
| Average loan term | 69.5 months | 67.9 months |
| Average credit score | 751 | 688 |
| Share of purchases financed | 83.32% | 37.44% |
Source: Experian, “Average Car Payment in 2026” (Q2 2026 State of the Automotive Finance Market; VantageScore 4.0). Also summarized in Experian’s auto loan rates and financing overview.
How Average Car Payments Changed Year Over Year
From Q2 2025 to Q2 2026, the average new-vehicle payment rose $16 (2.1%) and the average used-vehicle payment rose $10 (1.9%). Average new-vehicle leases rose $4 to $617.
| Type | Q2 2025 | Q2 2026 | Change |
|---|---|---|---|
| New vehicles | $749 | $765 | +$16 (2.1%) |
| Used vehicles | $532 | $542 | +$10 (1.9%) |
| New vehicle leases | $613 | $617 | +$4 (0.7%) |
Source: Experian State of the Automotive Finance Market, Q2 2025 and Q2 2026, as compiled by LendingTree’s 2026 auto loan statistics and Experian’s own year tables in Auto Loan Rates and Financing for 2026.
New vs Used Car Payment: What Drives the Gap
The $223 monthly gap is mostly loan size, not rate. New-car borrowers finance about $15,758 more ($43,610 vs $27,852) even though their average APR is lower (6.35% vs 11.19%). Terms are similar: about 69.5 months new and 67.9 months used.
For a personal new-vs-used decision that includes depreciation and rate shopping, see our free guide New vs Used Cars & How to Get the Best Auto Loan Rate. To price a specific payment, use the auto loan calculator.
Average Car Payment by Credit Score
Near-prime new-car buyers (scores 601–660) had the highest average new payment at $816. Prime used-car buyers (661–780) had the lowest used payment at $528.
| Credit score range | New payment | Used payment |
|---|---|---|
| Super prime (781–850) | $741 | $534 |
| Prime (661–780) | $770 | $528 |
| Near prime (601–660) | $816 | $555 |
| Subprime (501–600) | $805 | $567 |
| Deep subprime (300–500) | $779 | $570 |
Source: Experian Q2 2026 (VantageScore 4.0).
Average Auto Loan Rates by Credit Score
In Q2 2026, average APRs were 6.35% for new cars and 11.19% for used cars. Super-prime new-car rates averaged 4.41%; deep-subprime used rates averaged 21.62%.
| Credit score range | New APR | Used APR |
|---|---|---|
| Super prime (781–850) | 4.41% | 6.29% |
| Prime (661–780) | 6.15% | 8.81% |
| Near prime (601–660) | 9.71% | 13.93% |
| Subprime (501–600) | 13.52% | 19.10% |
| Deep subprime (300–500) | 16.11% | 21.62% |
Source: Experian Q2 2026; also in Auto Loan Rates and Financing for 2026.
Average Auto Loan Term Length in 2026
The average new-car loan term in Q2 2026 was 69.46 months (about 5.8 years). Used-car loans averaged 67.86 months. Both are longer than in Q2 2024 and Q2 2025.
| Year (Q2) | New cars | Used cars |
|---|---|---|
| 2024 | 68.45 | 67.23 |
| 2025 | 68.93 | 67.23 |
| 2026 | 69.46 | 67.86 |
Source: Experian Q2 data as published in Auto Loan Rates and Financing for 2026. Near-prime new-car buyers averaged the longest terms (75.57 months); super-prime new-car buyers averaged the shortest (64.88 months) — Experian.
A longer term lowers the monthly payment but raises total interest. On our worked example of a $30,000 loan at 6.5% APR, 60 months costs about $586.98/mo and $5,219.07 interest; 72 months drops to about $504.30/mo but raises interest to $6,309.45. Full side-by-side: 60 vs 72 vs 84 month car loan comparison.
Average Loan Amount Trends
Average amounts financed kept climbing. New-car loans averaged $43,610 in Q2 2026, up from $41,895 in Q2 2025 and $40,962 in Q2 2024. Used-car loans averaged $27,852, up from $26,977 and $26,319 in those prior years.
| Year (Q2) | New cars | Used cars |
|---|---|---|
| 2024 | $40,962 | $26,319 |
| 2025 | $41,895 | $26,977 |
| 2026 | $43,610 | $27,852 |
Source: Experian Q2 year tables in Auto Loan Rates and Financing for 2026.
U.S. Auto Loan Debt Snapshot (New York Fed)
Outstanding auto loan balances reached $1.713 trillion in Q2 2026, up $28 billion from the prior quarter and $58 billion from a year earlier. New auto loan originations were about $211 billion in the quarter. Auto debt was 9.1% of total U.S. household debt ($18.771 trillion).
Source: Federal Reserve Bank of New York, Household Debt and Credit Report, Q2 2026 (press release Aug 11, 2026).
What These Averages Mean for Your Budget
National averages are a benchmark, not a target. A $765 new-car payment is above what many households can sustain once insurance, fuel, and maintenance are added. On our free affordability calculator (10% down, 6.5% APR, 60 months), a $400/mo car payment finances about $20,443 and buys a car priced around $22,715; with default ownership costs of $370/mo, total monthly ownership is about $770.
Run your own number on How Much Car Can I Afford? (payment-first calculator plus the car-price-by-payment table) or the auto loan payment calculator for a specific price and term.
See what payment you can actually afford
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Open affordability calculator →Sources
- Experian — Average Car Payment in 2026 (Q2 2026 State of the Automotive Finance Market)
- Experian — Auto Loan Rates and Financing for 2026
- LendingTree — Average Car Payment and Auto Loan Statistics: 2026 (Experian YoY compilation)
- Federal Reserve Bank of New York — Household Debt and Credit, Q2 2026
Worked payment examples on this page that are not Experian averages (for example, $30,000 at 6.5% for 60 vs 72 months, and the $400 → $22,715 affordability example) are calculated with the standard amortization formula used by TrueCostCalc’s free calculators. They are labeled as examples, not national averages.
Bottom Line
The average car payment in 2026 sits near $765 new and $542 used, on loans that now stretch close to six years. Use those figures to sanity-check a dealer quote, then reverse-engineer a payment that leaves room for insurance and fuel — not the other way around.
Related: How Much Car Can I Afford? · Auto Loan Calculator · 60 vs 72 vs 84 Month Car Loan · New vs Used & Best Auto Loan Rates · Car Budget on a $60,000 Salary