How Much Is Your Car Payment?

Did you know that the percentage of car buyers paying more than $1,000 every month for their vehicle is higher than it has ever been. The average car payment for new and used vehicles combined is $643. The average monthly payment for a new car is $754. The average monthly payment for a used car is $533 We strongly advised you don’t extend your auto loan longer than 42 months. Longer terms may mean that you pay less every month, but you’ll pay more over the life of the loan. You’ll take on more debt, which could hurt your credit and severely limit your borrowing power. You risk becoming “upside down” on the loan, which means you could potentially end up owing more than it’s worth. At Car-Lotta we offer short terms loans usually 27-36 months. In many cases, our payments are lower than a normal car dealers and our loan process is quick and easy.