The Average New-Car Payment Is Shrinking Homebuyers’ Budgets by $135,000

The typical new-car payment hit an all-time high in the first quarter of 2026, new data shows—a jump that could cost hopeful househunters as much as $135,000 in buying power . The average monthly payment on a new vehicle is now $770, up nearly 3% from a year earlier, according to Experian . The increase follows a sharp run-up in both vehicle prices and borrowing costs: New-car prices are almost 30% higher than they were in 2020, while auto-loan rates hit more than 7.5% in February 2026 , compare