Dirk Hanlon: car loans hit a record $1.71 trillion in the second quarter. Gus: everybody's buying cars, boom times! Dot: Father, there are 79.3 million loans, fewer than last year; each one is bigger, and a new-car payment averages a record $765 a month at 6.35%. Lorraine: a month? Skip: more than a third of loans run past 72 months. Gus: by then it's a classic.
America's car-loan pile reached a record $1.71 trillion in the second quarter even though the number of loans fell to 79.3 million, 1.24% fewer than a year earlier: fewer borrowers owe more each, with the average new-car loan at $43,610 and a record $765 a month at 6.35%, used cars at $542 a month at 11.19%, and more than a third of loans, new and used, now running past 72 months.
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X · Oct 13, 2026
