Your Money Minute Even MORE People Have 1000 Dollar Car Payments 9/12/25
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Sep 12, 2025 The podcast delves into the alarming trend of escalating car payments, highlighting that nearly 20% of buyers are now facing monthly bills of $1,000. It discusses the reasons behind this surge, including skyrocketing vehicle prices and a societal obsession with new cars as status symbols. Listeners are invited to reflect on the financial implications of such a shift in consumer behavior.
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Rising Share Of $1,000+ Car Payments
- Nearly 20% of Americans now pay over $1,000 monthly for a car, driven by pricier vehicle sales and consumer preferences.
- Higher-priced new vehicles and low unemployment sustain strong demand for expensive cars.
Car Prices Shift Toward Luxury Price Bands
- More vehicles now sell in the $55k–$70k range, pushing monthly payments much higher.
- Automakers and buyer preferences have shifted the market toward pricier models.
Preference For Near-New Cars
- Many consumers refuse to drive cars older than three years and insist on new vehicles.
- This personal-preference trend fuels higher new-car demand despite steep payments.