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New car payments hit record $787 a month as buyers take on longer loans, report finds

New car payments hit record $787 a month as buyers take on longer loans, report finds
Photo: Click2Houston KPRC2 Local · view original

Buying a new car is getting more expensive, with monthly payments, loan amounts and interest costs reaching record highs in the third quarter of 2026, according to a new report from Edmunds. The average monthly payment for a financed new vehicle climbed to $787 from $777 in the second quarter and...

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