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More monthly auto loan payments are above $1,000, and most are not for luxury models

Cnbc · · 369 words · By Phil LeBeau; Meghan Reeder
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What to know about More monthly auto loan payments are above $1,000, and most are not for luxury models

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.

Claims checked 11
Techniques found 0
Topics 0

Coverage spectrum

Coverage gap: Low Left coverage
Left0%
Center100%
Right0%

4 sources compared across this story cluster. This is an eFinder estimate from indexed source coverage, not an editorial rating.

What happened

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.

Why it matters

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.

Common ground

"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.

Perspective signals

No major persuasion pattern has been attached yet, so the source, headline, and evidence should carry most of the weight for readers.

open_in_new Read the original article: https://www.cnbc.com/2026/05/28/monthly-auto-loan-payments-above-1000-growing.ht…

fact_checkClaims Checked

eFinder analyzed this article and checked 11 claims against available evidence, cross-references, web search, and Wikipedia. Here is what the fact-checking layer found.

check_circle Corroborated 6
info Single Source 2
help Insufficient Evidence 2
schedule Pending 1
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Claim 1: “Just five years ago, auto loans with monthly payments over $1,000 accounted for just 5.4% of the market.”
SINGLE SOURCE
The specific figure of 5.4% from five years ago is cited in a LinkedIn post referencing the report, but not corroborated by a second independent news organization.
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web search NEUTRAL — May 28, 2026 · Almost 74% of the auto loans requiring owners to pay $1000 or more every month are for non-luxury models.
https://www.facebook.com/cnbc/posts/almost-74-of-the-auto-lo…
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web search NEUTRAL — May 28, 2026 · " "Just five years ago, auto loans with monthly payments over $1,000 accounted for just 5.4% of the market." "As for auto loan delinquencies ...
https://www.linkedin.com/posts/john-toohig-29947b40_more-mon…
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web search NEUTRAL — The average auto loan amount in our sample is $22,100, with a 5.4 percent interest rate and $410 monthly payment for five years. The average annual payment ...
https://marketing.wharton.upenn.edu/wp-content/uploads/2019/…
info
Claim 2: “the top five models being popular pickup trucks including the Ford F-150, Chevrolet Silverado 1500 and Ram 1500, according to Experian.”
SINGLE SOURCE
While the general trend of high payments for non-luxury vehicles is corroborated, the specific list of the 'top five models' including the F-150, Silverado, and Ram 1500 is mentioned in the context of the report but not explicitly detailed across multiple independent news sources in the provided evidence snippets.
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wikipedia NEUTRAL — The Chevrolet C/K is a series of trucks that was manufactured by General Motors from the 1960 to 2002 model years. Marketed by both the Chevrolet and GMC divisions, the C/K series encompassed a wide r…
https://en.wikipedia.org/wiki/Chevrolet_C/K
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wikipedia NEUTRAL — The fourth generation of the C/K series is a range of trucks that was manufactured by General Motors from the 1988 to the 2002 model years. The successor to the "Rounded Line" generation of C/K truck…
https://en.wikipedia.org/wiki/Chevrolet_C/K_(fourth_generati…
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wikipedia NEUTRAL — The Chevrolet Silverado is a range of trucks manufactured by General Motors under the Chevrolet brand. Introduced for the 1999 model year, the Silverado is the successor to the long-running Chevrolet …
https://en.wikipedia.org/wiki/Chevrolet_Silverado
+ 3 more evidence sources
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Claim 3: “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.”
CORROBORATED
Multiple independent sources (CNBC and WardsAuto) confirm that Experian Automotive's Q1 analysis shows nearly 19% of new vehicle loans have monthly payments of at least $1,000.
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wikipedia NEUTRAL — Electric car use by country varies worldwide, as the adoption of plug-in electric vehicles is affected by consumer demand, market prices, availability of charging infrastructure, and government polici…
https://en.wikipedia.org/wiki/Electric_car_use_by_country
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wikipedia NEUTRAL — The Tesla Model 3 is a battery electric powered mid-size sedan with a fastback body style built by Tesla, Inc., introduced in 2017. The vehicle is marketed as being more affordable to more people than…
https://en.wikipedia.org/wiki/Tesla_Model_3
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wikipedia NEUTRAL — This article gives the timeline of the Great Recession, which hit many developed economies in the due to the 2008 financial crisis. Note: The date indicated is that of the official announcement by the…
https://en.wikipedia.org/wiki/Timeline_of_the_Great_Recessio…
+ 3 more evidence sources
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Claim 4: “Almost 74% of the auto loans requiring owners to pay $1,000 or more every month are for non-luxury models”
CORROBORATED
The claim that almost 74% of loans with payments of $1,000 or more are for non-luxury models is confirmed by CNBC, LinkedIn, and other web results.
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wikipedia NEUTRAL — Jerome Dillon (born July 16, 1969) is an American musician, best known for his tenure as the drummer and occasional guitarist of the industrial rock band Nine Inch Nails from 1999 to 2005.
https://en.wikipedia.org/wiki/Jerome_Dillon
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wikipedia NEUTRAL — Nearly Human is the twelfth studio album by American musician Todd Rundgren, released on May 18, 1989, by Warner Bros. Records. It was his first release in four years, although he had been active as a…
https://en.wikipedia.org/wiki/Nearly_Human
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wikipedia NEUTRAL — Proximity may refer to: Distance, a numerical description of how far apart objects are Proxemics, the study of human spatial requirements and the effects of population density Proximity (2000 film), …
https://en.wikipedia.org/wiki/Proximity
+ 3 more evidence sources
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Claim 5: “the average monthly payment has also climbed to an all-time high of $770, according to Experian Automotive.”
CORROBORATED
The average monthly payment of $770 is confirmed by multiple sources, including a specific reference to Experian's Q1 data.
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web search NEUTRAL — Mar 25, 2026 · As car prices continue to climb, the average car payment has reached a new record of $712 per month. Although this may be challenging for ...
https://www.facebook.com/DallasTexasTV/posts/new-car-payment…
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web search NEUTRAL — Jun 1, 2026 · While high-priced trucks have long been a fixture in the ... The average new-car payment reached $770 in Q1, up from $748 a year earlier.
https://www.insideradio.com/free/experian-1-000-monthly-car-…
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web search NEUTRAL — Aug 22, 2023 · My car is paid off but my car bill is still $250 per month. That $250 being total repairs for the year divided by 12 months. Car repairs are soooo expensive ...
https://www.reddit.com/r/FluentInFinance/comments/15y3xgf/th…
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Claim 6: “the global chip shortage hit in 2021 and 2022, and automakers around the world prioritized production of higher-end, more profitable models.”
CORROBORATED
Multiple sources confirm the global chip shortage in 2021-2022 and specifically mention that automakers (e.g., Renault) prioritized more profitable, higher-end models.
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web search NEUTRAL — Jul 12, 2023 · In short, the dearth of supply of semiconductor chips that hobbled vehicle production for most of 2021 and 2022 has faded into the background — ...
https://www.spglobal.com/automotive-insights/en/blogs/2023/7…
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web search NEUTRAL — Oct 14, 2021 · Some automakers, such as Renault, have begun to triage their chips, reserving them for more costly models that bring more profit.
https://www.nytimes.com/2021/04/23/business/auto-semiconduct…
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web search NEUTRAL — Jun 13, 2022 · A major chip manufacturer says the shortage could stretch into 2023. CR offers expert advice on how to navigate the current car market.
https://www.consumerreports.org/cars/buying-a-car/global-chi…
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Claim 7: “The average amount borrowed is now at an all-time high of $43,952”
CORROBORATED
Two separate web sources confirm the average amount borrowed has reached an all-time high of $43,952.
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web search NEUTRAL — Record Loan Amounts: The average amount borrowed for auto loans has reached an all-time high of $43,952, with average monthly payments climbing to $770, ...
https://intellectia.ai/news/etf/rising-auto-loan-payments-ex…
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web search NEUTRAL — Nearly 19% of new car buyers now pay at least $1,000 monthly, with average borrowing hitting an all-time high of $43,952. Smart financing strategies can cut ...
https://www.morrowreport.com/article/avoid-thousand-dollar-c…
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web search NEUTRAL — Apr 21, 2003 · Table 2.5 shows average earnings by one-year education increments, linked to the gender and ethnicity profile of the New Jersey community ...
https://files.eric.ed.gov/fulltext/ED482179.pdf
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Claim 8: “That's up from roughly 17.4% year over year.”
CORROBORATED
Both CNBC and WardsAuto explicitly state that the current 19% figure is up from approximately 17.4% year over year.
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wikipedia NEUTRAL — The is a grammatical article in English, denoting nouns that are already or about to be mentioned, under discussion, implied or otherwise presumed familiar to listeners, readers, or speakers. It is th…
https://en.wikipedia.org/wiki/The
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wikipedia NEUTRAL — The is the definite article in English. The, or THE, may also refer to:
https://en.wikipedia.org/wiki/The_(disambiguation)
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wikipedia NEUTRAL — The United States of America is a federal republic consisting of 50 states, a federal district (Washington, D.C., the capital city of the United States), five major territories, and minor islands. Bot…
https://en.wikipedia.org/wiki/List_of_states_and_territories…
+ 3 more evidence sources
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Claim 9: “the 60-day delinquency rate also increasing.”
INSUFFICIENT EVIDENCE
No evidence was found in the provided search results regarding the 60-day delinquency rate.
schedule
Claim 10: “delinquency rates remain below 2018 levels.”
PENDING
This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.
help
Claim 11: “the percentage of loans that have payments more 30 days late has edged up to 2% of all new vehicle loans”
INSUFFICIENT EVIDENCE
No evidence was found in the provided search results regarding the 30-day delinquency rate reaching 2%.
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.