Purchasing a car is an increasingly painful transaction. Already the second-largest purchase for most Americans, more are spending at least $1,000 on monthly payments. According to Edmunds, slightly over 20% of Americans are committing to monthly payments of $1,000 or more as of Q4 2025.
A similar number is taking out loans of at least 84 months, per Edmunds. Rising prices make it challenging to find an affordable automobile. Although difficult, it’s not impossible to merely accept such a costly monthly payment.
