NPR: Avg. Car Payment Crosses $700 Per Month

NPR headline: Monthly car payments have crossed a record $700. What that means
July 2, 20225:00 AM ET


In fact, they play an essential role in the economy. People rely on cars to get to work — 3 out of 4 Americans commute to work by car. Then there’s school drop-offs, doctors appointments, grocery shopping and more.

And yet, for more and more Americans owning a car is becoming unaffordable.

“Unfortunately for the segment of the population that probably needs it the most, it’s getting more and more out of reach,” Drury notes.