Pandemic Induced Shortages Have Caused Used Car Payments To Rise To Over $400 On Average

When the global pandemic paused new car production in early 2020, used supply went down and prices rose. The result, is that the average used car payment is now $413, though used car payments have been headed for the $400 mark for a while.

 

CarsDirect, via a report from Experian, outlines financing trends caused or exacerbated by the pandemic including record high averages for the amount financed and record long loan terms.
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