New Car Payments Are Becoming Few And Far Between - Jalopnik

New Car Payments Are Becoming Few And Far Between - Jalopnik focuses on how rare sub-$500 monthly payments have become for new-vehicle loans. Using Experian data for the first quarter, the article says only one-in-five new vehicle loans had payments under $500 per month, while roughly the same share paid over $1,000 monthly. It notes that $500 is about $270 less than the average payment but remains difficult for many buyers, often requiring strong credit, sizable down payments, and shopping for lower-priced vehicles. The report also states that 11% of deals were priced between $400 and $499 per month and just 9.1% were under $400. Experian identified 25 models with average payments below $500; examples include Chevy Trax, Hyundai Elantra, Kia K4, Nissan Kicks, Nissan Sentra, Nissan Versa, and Toyota Corolla.