The average monthly car loan payment in the U.S.
was $530 for new vehicles and $381 for used ones originated in the third quarter of 2018, according to credit reporting agency Experian.
The average lease payment was $430.
If those figures seem high, that’s because they are — and they’re all up year over year.
What is the average car payment in 2019?
The average monthly car payment was $554 for a new vehicle and $391 for used vehicles in the U.S. during the first quarter of 2019, according to Experian data.
How much should I spend on a car if I make 100000?
The general rule of thumb is that you should not spend more than 20% of your monthly take-home pay on cars, according to Edmunds.com (via Bankrate). So if your after-tax monthly income is $4,000, your total cost of car ownership for ALL of the cars you own should not exceed $800 under this rule.
How much should I spend on a car if I make 60000?
Most financial experts agree that your car expenses (monthly payment, insurance, fuel, taxes, routine maintenance and so forth) should be no more than 15 to 20% of your net income. In our $3,300 example that works out to a maximum of $500 to $660 per month.