Experian New Car Loan Data: Share of $1,000+ Monthly Payments Rises to Nearly 19%, Most Are Not Luxury Models
Experian Automotive’s first-quarter U.S. new-car loan data show that loans with monthly payments of $1,000 or more account for nearly 19%, and about 74% of those loans are for non-luxury models. Average loan amounts and monthly payments both hit record highs, while delinquency rates edged up slightly. The three sources broadly agree that high monthly payments are becoming more common and that non-luxury vehicles make up most of them, but Axios uses Edmunds data and cites a slightly different figure of about 20%, so the exact statistical basis does not fully match.