pipe on Nostr: People are paying almost as much for their car loans as I pay to rent a nice house. ...

People are paying almost as much for their car loans as I pay to rent a nice house. And for almost as long.

>>The average car payment for new vehicles was a record-high $725 in the first quarter of 2023, an 11.5% increase from the first quarter of 2022... The average auto loan term is 68.6 months for new cars, 67.4 months for used cars and 35.3 months for leased vehicles<<

https://www.lendingtree.com/auto/debt-statistics/