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6. 'Auto Loan Delinquencies Surge to 32-Year Record -- The Average Monthly Payment + Insurance Will Shock You'

Reply to Yo_Mama_Been_Loggin (Original post)

Sat Apr 11, 2026, 03:13 PM

Apr 11

"The American dream of car ownership is turning into a nightmare for millions...Subprime auto loan delinquencies have just hit their highest level in 32 years...At the same time, the average monthly payment for a new car has soared to $774 per month."

"More borrowers than ever are 60 or more days behind on their car payments...For years, lenders have been stretching out loan terms to 72, 84, and even 96 months to make sky-high car prices seem more affordable. Some credit unions are even offering 10-year car loans, a practice that industry veteran Brian Binstock calls a 'death trap for customers.' "

"Lending standards have been getting looser and looser, perhaps aiding to recent strain. Some lenders have been approving loans for people with credit scores in the 500s and incomes as low as $5,000 a year."

"The $774 monthly payment mentioned earlier is just the payment. When you add in the average cost of full-coverage car insurance, which Bankrate puts at $225 a month, you're looking at $999 a month just to own and insure a new car."

https://finance.yahoo.com/economy/articles/auto-loan-delinquencies-surge-32-150112001.html

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Highlight:

Buyers fret as the average cost of a new car nears $50K [View all] Yo_Mama_Been_Loggin Apr 11 OP

For vehicles with many plastic engine parts. Nope. SheltieLover Apr 11 #1

I'm starting to wish when I bought my Rav4 in 2012, I'd bought 2 and stored one. It's insane. Vinca Apr 11 #2

I bought m RAV4 in 2012. I have 163k miles on it. It's been entirely problem free. $30k when I bought it. Dave says Apr 11 #13

I think the cheapest 2026 is about $40,000. Mine only has about 60,000 miles on it because I just drive it around town. Vinca Apr 11 #18

The 2026 Toyota RAV4 Limited has a starting MSRP of $43,300 Celerity Apr 11 #19

They're not sure Greg_In_SF Apr 11 #3

It looks like the new car market is almost as bad as the job market ck4829 Apr 11 #27

I'll never buy new. They lose 30% of their value in the first 2 years. CousinIT Apr 11 #4

Looks like a huge savings in buying a year old one. multigraincracker Apr 11 #8

It's why the cars we are driving are five or more years old. mwmisses4289 Apr 11 #5

I always buy new and drive it until the wheels fall off Dave says Apr 11 #14

I'm driving an almost 20-year old car. CousinIT Apr 11 #35

'Auto Loan Delinquencies Surge to 32-Year Record -- The Average Monthly Payment + Insurance Will Shock You' sop Apr 11 #6

"10 year car loans" flvegan Apr 11 #34

Add another 5K in interest. multigraincracker Apr 11 #7

I'm pushing 60 and I've owned 5 cars in my entire life. AZJonnie Apr 11 #9

I have a 95 Integra with 300k miles on it. Can't blow'em up lol. I'm about done restoring the body. Vroom Vroom! lol n/t Cheezoholic Apr 11 #11

I had an Integra from the 1980s, gave it to my ex-wife at 180k miles Dave says Apr 11 #17

Bought mine for 500 about 7 years ago because the timing belt busted on it, pretty easy fix as long as they're high Cheezoholic Apr 11 #20

My cars included Dave says Apr 13 #40

One of those 5 was a '91 Integra AZJonnie Apr 11 #23

Michael J Fox did Integra commercials in Japan oregonjen Apr 11 #36

I have never bought a new car in my life. I bought a year old Escape in 2003 for 15k dollars with 8k miles on it Cheezoholic Apr 11 #10

I miss my 2002 Volvo that I bought in 2010 for $6K musette_sf Apr 11 #15

You bring up a great point about good used cars becoming more and more rare. They just aren't built Cheezoholic Apr 11 #21

The world is changing quickly. For people who own a home or are somewhat long-term renters, Bluetus Apr 11 #12

Never thought I'd live long enough to see $50k for just regular cars Mysterian Apr 11 #16

I shopped for new cars recently and don't know $50K would be a regular car from what I saw. I ended up buying a GoodRaisin Apr 12 #38

its obscene the costs for a new car... unaffordable for many RT Atlanta Apr 11 #22

I bought a new car once, about forty years ago. hunter Apr 11 #24

Same here. The Madcap Apr 11 #29

I would imagine the OEMs are fretting a bit more . . . hatrack Apr 11 #25

... Golden Age! ck4829 Apr 11 #26

A car salesman told me years ago bucolic_frolic Apr 11 #28

Done buying cars. OC375 Apr 11 #30

You can buy a new Toyota Corolla for under 25k Bluestocking Apr 11 #31

The average is distorted by the small number of sales of very expensive luxury cars DBoon Apr 11 #32

I wish a basic car and truck were still avaible. Woodwizard Apr 11 #33

I got a mid trim elantra hybrid dsc Apr 11 #37

I'm looking at the K5 for my next car. Initech Apr 13 #41

I loved my K5 but I went for mileage dsc Apr 13 #42

This message was self-deleted by its author PeaceWave Apr 12 #39

I got a 2024 Maverick pickup new for 27K NickB79 Apr 13 #43