 TITLE: What’s the Average Car Loan Payment? CONTENT: How Much Is the Average Car Payment?\n------------------------------------\nAuto loan debt and automotive monthly payments in the U.S. are both at all-time highs, according to recent data by Experian. Consumers have a total of $1.2 trillion in outstanding auto loans. The average car payment for a new vehicle is $554, and the average for a used car is $391.\nKeep in mind, though, these are averages—your car loan's monthly payment will differ depending on your loan amount. Understanding what to expect when financing a new or used car will be important as you determine whether you can afford it.\nThis is especially important if you're on a tight budget. If you'll soon pay off your car and you want to trade up, securing a similar monthly payment to the one you have may be the best way to avoid running into budgetary problems. If you have more cash flow now than when you got your current loan, you may have room for an upgrade.\nRegardless of the average car payment, take the time to look at your budget and decide how much you can afford before you start car shopping. END