Record 1 in 5 Buyers of New Cars Committing to $1,000-Plus Monthly Payments: Edmunds

Buyers are making lower down payments on vehicles and opting for longer loan term periods.

A line of unsold 2018 Cooper Clubmen sit in a long row at a Mini dealership in Highlands Ranch, Colo., on March 30, 2018. David Zalubowski/AP Photo

The share of new car buyers committing to make monthly payments of $1,000 or more hit an “all-time high” in the second quarter of 2025 as affordability challenges stretch budgets, automotive company Edmunds said in a July 1 statement.

The 19.3 percent share in the second quarter is up from 17.7 percent in the previous quarter. It was 17.8 percent in 2024. Edmunds also reported a record increase in the average amount of new vehicles being financed.