The US automotive market is becoming increasingly dependent on loans, and the situation is starting to resemble a debt trap. Nearly 30% of new auto loans in April 2026 were issued for terms exceeding 72 months – an absolute record.

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Источник изображения: Chatgpt

The main reason is simple: cars have become too expensive. The average monthly car payment in the US has risen from $390 (28,000 rubles) in 2019 to approximately $525–770 (37,000-55,000 rubles) depending on the car type and loan terms. Meanwhile, the average price of a new car consistently exceeds $49,000 (3,500,000 rubles).

To keep monthly payments at an acceptable level, buyers are stretching loans over 7–8 years. But there's a downside: the car depreciates faster than the debt is paid off. As a result, many owners find themselves "underwater" – when the outstanding loan balance is higher than the car's market value.

The total volume of auto debt in the US has already reached $1.68 trillion – comparable to the country's federal student loan volume. The situation is particularly alarming in the segment of borrowers with low credit ratings: delinquencies on such auto loans have hit a 32-year high.

Interestingly, major lenders do not yet consider the situation critical. Capital One claims that the debt-to-income ratio remains relatively stable – around 10% for various population groups. But the market is changing: inexpensive cars have virtually disappeared, and loans are becoming longer and riskier.

For the automotive industry, this is a dangerous signal. Manufacturers are increasingly selling expensive SUVs, pickups, and electric vehicles, but the rising cost of cars is gradually pushing some buyers out of the market. And if interest rates remain high, the industry could face a new affordability crisis.

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