Why 84-month car loans are surging and what it means for buyers [USA TODAY]
NerdWallet, Inc. (NRDS)
Company Research
Source: USA TODAY
Jan. 18, 2026, 7:00 p.m. ET The average car loan length is "close to six years" according to American personal finance company NerdWallet . In those six years, drivers can rack up over $10,000 in interest costs. What's more, a growing share of Americans are taking on exceptionally high car payments, with new data from Edmunds showing record numbers of buyers committing to monthly notes of $1,000 or more. In the fourth quarter of 2025, 20.3% of new-car shoppers agreed to monthly payments topping $1,000 — the highest share ever recorded, according to the auto research firm. The figure is up from 19.1% in the previous quarter and continues a steady climb driven by elevated vehicle prices and persistently high borrowing costs. The trend isn't limited to the new-car market. Used-vehicle buyers also set a new record, with 6.3% taking on payments above $1,000 a month. That's up from 6.1% in the third quarter of 2025 and well above levels seen a year earlier. Edmunds analysts sai
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