The share of new car buyers committing to make monthly payments of $1,000 or more hit an “all-time high” in the second quarter of 2025 as affordability challenges stretch budgets, automotive company Edmunds said in a July 1 statement.
The 19.3 percent share in the second quarter is up from 17.7 percent in the previous quarter. It was 17.8 percent in 2024. Edmunds also reported a record increase in the average amount of new vehicles being financed.
“Bigger loans are becoming the new normal,” the report said, adding that more buyers were opting for extended loan terms than before.
“The average amount financed for new-vehicles climbed to $42,388 in Q2 2025, an all-time high, up from $41,473 in Q1 2025 and $40,873 in Q2 2024.”…