Ready to hit the open road? You might want to pump the brakes. 

Answer:

• Avg. new car payment: $770
• Avg. used car payment: $530

Questions:

• Do these averages change how much you think a person should spend on their car payment? Why or why not?
• What are some potential consequences of spending a larger percentage of your income on car payments?
• Why do you think car prices and monthly payments have increased so much?

Here are the ready-to-go slides for this Question of the Day that you can use in your classroom. 

Behind the numbers (NerdWallet):

"The average monthly car loan payment in the U.S. was $770 for new vehicles and $531 for used ones originated in the first quarter of 2026, according to credit reporting agency Experian.

About the Author

Kathryn Dawson

Kathryn (she/her) is excited to join the NGPF team after 9 years of experience in education as a mentor, tutor, and special education teacher. She is a graduate of Cornell University with a degree in policy analysis and management and has a master's degree in education from Brooklyn College. Kathryn is looking forward to bringing her passion for accessibility and educational justice into curriculum design at NGPF. During her free time, Kathryn loves embarking on cooking projects, walking around her Seattle neighborhood with her dog, or lounging in a hammock with a book.