The seven-year car loan is no longer an edge case. According to Edmunds, loans of 84 months or longer accounted for more than 25 percent of new-vehicle financing in the third quarter of 2026, a new record. That's up from 23.9 percent in the second quarter and 21.8 percent a year earlier, per Edmunds. One in four new-car buyers is now signing up to make payments well into the next presidential term.

 

Several financing metrics hit all-time highs in Q3, according to the Edmunds data. The amount financed on a new vehicle reached a record $44,664, up from $44,156 the previous quarter and $42,744 a year ago. Average monthly payments climbed to a record $787, versus $777 in Q2 and $756 a year earlier, Edmunds reports.