Car financing payments and amount financed in the U.S. Q2 2022
The average monthly payment for new car financing in the United States was on average 123 U.S. dollars higher than for used cars as of 2022. Meanwhile, the down payment for new automobiles was several thousand U.S. dollars higher than for used ones. In the second quarter of 2022, the average amount financed for the purchase of a new car was over 40,000 U.S. dollars. The average maturity of new car loans at finance companies peaked in the second quarter of 2020 at 71 months.
