Car prices skyrocketed during the pandemic, and they really haven’t come down. Consumers are still paying outlandish sums of money on average for both new and used vehicles, and that's not likely to change anytime soon.
According to a new Experian report, auto loan payments averaged $748 a month for a new vehicle during the third quarter of 2025. That’s down $1 from the second quarter, but up $12 from the same period in 2024, with an average loan amount of $42,332.
While the average is high, not everyone is paying the same. Near-prime borrowers, those with credit scores between 601 and 660, are paying the highest average car payment—$793. Super prime borrowers (781-850) are paying the lowest at $727, followed by deep subprime buyers (300-500) at $748 a month.
Those deep subprime buyers are also paying the highest interest rate, while securing the smallest new auto loans—15.85 percent and $35,286 on average. Near-prime borrowers had the highest new car loan amount at $44,526.
| Credit Score Range | Average New Monthly Car Payment | Average New Auto Loan Interest Rate | Average New Auto Loan Amount | Average New Loan Terms (Months) |
| Super Prime (781-850) | $727 | 4.88% | $40,534 | 64.80 |
| Prime (661-780) | $754 | 6.51% | $44,480 | 72.21 |
| New Prime (601-660) | $793 | 9.77% | $44,526 | 75.03 |
| Subprime (501-600) | $780 | 13.34% | $39,841 | 74.30 |
| Deep Subprime (300-500) | $748 | 15.85% | $35,286 | 72.66 |
Used car prices have also increased in recent years, leading to higher monthly payments. Last quarter, consumers were paying an average of $532 on a $27,128 loan. But, as with new-car buyers, several factors could determine what an individual pays.
Deep subprime used buyers are paying $556 a month on average, compared to $527 for super prime buyers. That’s a $348 difference per year. Deep subprime buyers are also paying the highest interest rate—21.60 percent—for a $21,149 loan.
Not only is finding a car a hassle, but financing one is, too. Your credit score can greatly affect what kind of vehicle you can purchase and how much you pay per month. Like most things, if you can, shop around for financing before you go looking for a new or used vehicle, so you can take the time needed to make the right financial decision.
Source: Experian
