![\"More](\"https:\/\/www.newsbeep.com\/us\/wp-content\/uploads\/2026\/05\/108313079-17799701211779970118-46212021801-1080pnbcnews.jpg\")
<\/p>\n<\/p>\n
In a country where big trucks are a big deal, those pickups and SUVs represent a big percentage of auto loans that come with a sizable monthly payment, more than $1,000 a month, according to new data.<\/p>\n
Experian Automotive’s analysis of more than 5 million open auto loans and leases in the first quarter shows nearly 19% of new vehicle loans include a monthly payment of at least $1,000. That’s up from roughly 17.4% year over year. <\/p>\n
“The assumption is that it’s all luxury, it’s high-line, and that is not the case,” said Melinda Zabritski, head of automotive financial insights for Experian Automotive.<\/p>\n
Almost 74% of the auto loans requiring owners to pay $1,000 or more every month are for non-luxury models, with the top five models being popular pickup trucks including the Ford<\/a> F-150, Chevrolet Silverado 1500 and Ram 1500, according to Experian.<\/p>\n Just five years ago, auto loans with monthly payments over $1,000 accounted for just 5.4% of the market. Then the global chip shortage hit in 2021 and 2022, and automakers around the world prioritized production of higher-end, more profitable models.\u00a0Vehicle prices soared, and so did the amount borrowed for auto loans.<\/p>\n Zabritski said those higher prices have changed how car and truck buyers look at what it takes to finance the purchase of a new vehicle. <\/p>\n “We haven’t seen a reduction in that MSRP, and in those high loan amounts,” she told CNBC. “I think as time goes on, I think more consumers are getting used to the $1,000 payment.”\u00a0<\/p>\n The average amount borrowed is now at an all-time high of $43,952, and the average monthly payment has also climbed to an all-time high of $770, according to Experian Automotive. Both are a reflection of a new auto market that is relatively strong.\u00a0\u00a0<\/p>\n As for auto loan delinquencies, the percentage of loans that have payments more 30 days late has edged up to 2% of all new vehicle loans, with the 60-day delinquency rate also increasing.\u00a0\u00a0<\/p>\n Still, Zabritski noted that delinquency rates remain below 2018 levels.\u00a0 <\/p>\n “The driving force in the 60-day delinquency really does fall within the subprime market. Lower credit scores are going to have a higher likelihood of default,” she said.<\/p>\n