Money by Jeroslyn JoVonn $1,000+ Monthly Car Loans Reach New High, Adding Pressure On Drivers New data reveals a rise in the number of drivers paying over $1,000 per month on car loans. Among used-car buyers, 6.3% now face $1,000-plus monthly payments, also up from previous quarters. The $400 monthly payment she had previously enjoyed was no longer an option. The steep car payments, along with rising household costs like rent, pushed Dickerson deep into credit card debt. Experts advise keeping monthly car payments within a manageable range before committing to four-figure loans.