The average new-car payment hits a record $787

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Edmunds' Q3 data shows buyers borrowing more and stretching loans longer.

The average monthly payment on a financed new car reached $787 in the third quarter of 2026, according to Edmunds, up from $777 in the second quarter and $756 a year earlier.

Edmunds puts the average amount financed at $44,664, with an average APR of 7.0% and an average term of 70.5 months. Road & Track, reporting the same data, says more than a quarter of buyers are now financing for seven years or longer.

Long loans keep payments down, but they mean more interest overall and a longer stretch when you may owe more than the car is worth.

Sources: Edmunds · Road & Track · Fortune