Car shoppers are facing affordability challenges in the market for new vehicles despite average down payments dipping to nearly the lowest level in four years, according to a new report.

An analysis by Edmunds found that the average down payment for new car purchases fell to $6,020 in the third quarter of 2025. That's the lowest level since the fourth quarter of 2021 and is down from $6,433 in the second quarter of 2025 and $6,619 in the third quarter of 2024 – but the affordability of new vehicles remains a challenge for consumers.

The share of carbuyers with monthly payments exceeding $1,000 remained persistently high, accounting for 19.1% of all financed new car purchases in the third quarter, near the record of 19.3% in the prior quarter. For used vehicles, monthly payments of

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