What’s The Average Car Payment In Montana? It’s Surprisingly High
Americans and Montanans are pretty dependent on cars to get around. With a state as big as ours, a dependable car is practically a necessity if you wish to do any traveling.
Not everyone is lucky enough to buy a car outright, and thus have to have a car payment.
What's The National Average New Car Payment In America?
As cars become more like computers on wheels with the infotainment consoles, we're seeing prices increase. The pandemic didn't help matters either with a shortage of chips and supply chain issues.
All the following stats come from the website Simply Insurance, and they say the average new car payment is $575. Also, most people borrow on average $34,635 when buying a new car.
What's The National Average Used Car Payment In America?
When it comes to used car payments in America those stand at $430. As far as how much people borrow on average for a used car is $21,500.
What's The Average New Car Payment in Montana?
When it comes to new car payments for Montana residents it looks like we're paying on average $499.
What's The Average Used Car Payment in Montana?
Montanans pay just $289 a month for used car payments.
What's The Average Loan Length for Cars in America?
Car loan payments now are averaging 69 months or almost 6 years in length. That is for new cars, for a used car the average there is 35 months.
How Does Montana Compare to The Rest of America?
While the payments might seem high to some, we're actually paying a lot less than the rest of the United States.
For new car payments we're the #6 lowest, while for used payments we're the #1 lowest state in America.
Just one more reason to be happy we live in Montana.