Edmunds: Interesting Car-Buying Stats (October 2019)
SANTA MONICA, Calif., Oct. 1, 2019 /PRNewswire/ — The average interest rate for a new-vehicle loan fell for the sixth month in a row and stayed under 6% for the third month in a row in September, according to the car shopping experts at Edmunds. The annual percentage rate (APR) on new financed vehicles averaged 5.7% in September, compared to 5.8% in September of 2018.
Here are some interesting stats from Edmunds:
New-Car Finance Data
Term (New)
September 2019: 69.7
September 2018: 68.7
September 2014: 67.0
Monthly Payment (New)
September 2019: $559
September 2018: $537
September 2014: $478
Amount Financed (New)
September 2019: $32,928
September 2018: $31,062
September 2014: $28,120
APR (New)
September 2019: 5.7
September 2018: 5.8
September 2014: 4.2
Down Payment (New)
September 2019: $4,050
September 2018: $4,198
September 2014: $3,367
Average Transaction Price (New)
September 2019: $37,051
September 2018: $36,369
September 2014: $32,606
Used-Car Finance Data
Term (Used)
September 2019: 67.5
September 2018: 66.9
September 2014: 65.5
Monthly Payment (Used)
September 2019: $416
September 2018: $401
September 2014: $371
Amount Financed (Used)
September 2019: $22,623
September 2018: $21,697
September 2014: $20,090
APR (Used)
September 2019: 8.4
September 2018: 8.4
September 2014: 7.7
Down Payment (Used)
September 2019: $2,660
September 2018: $2,657
September 2014: $2,164
SOURCE: Edmunds
