The Average Price of an Auto Loan for a New Car in All 50 States

There is no way around the reality that cars have become a necessity for most Americans who need to drive to work, shuttle the kids to school or even use it for delivery purposes as a side gig. However, automobiles are expensive; to purchase one, you often need to get a loan before you get the keys.

With the constantly evolving auto industry, rising car prices and supply chain disruptions due to President Donald Trump’s implementation of tariffs, and the continuing demand for electric vehicles, understanding the trends in auto loans is essential for prospective car buyers. 

Many factors go into the rising costs of both cars and auto loans. For example, new vehicles, particularly electric cars and SUVs, have become more expensive due to advanced technology and higher production costs related to tariffs. There is also the fact that many lenders are offering longer loan terms, which allows buyers to finance higher amounts while keeping monthly payments manageable. Many consumers are making smaller down payments, opting to finance a larger portion of the vehicle’s cost.

GOBankingRates recently conducted a study to determine the average price of a car loan in each state for a variety of new vehicles — sedans, trucks, SUVs and electric cars.

Though auto loans have seen significant changes over the past few years due to rising vehicle prices and fluctuating interest rates, this doesn’t mean you can expect to pay the same amount everywhere. Here is the average price of an auto loan (assuming 80% of the price is financed) for a new car in every state.

Also see how to get a car loan.

• Total average cost for an auto loan for a new car: $48,677
• Average monthly car payment: $790
• New truck
  • Average total cost: $48,441
  • Average monthly payment: $773
• New SUV
  • Average total cost: $48,579
  • Average monthly payment: $783
• New electric car
  • Average total cost: $47,691
  • Average monthly payment: $719
• New sedan
  • Average total cost: $49,262
  • Average monthly payment: $833

• Total average cost for an auto loan for a new car: $48,421
• Average monthly car payment: $772
• New truck
  • Average total cost: $48,327
  • Average monthly payment: $765
• New SUV
  • Average total cost: $48,472
  • Average monthly payment: $775
• New electric car
  • Average total cost: $48,095
  • Average monthly payment: $748
• New sedan
  • Average total cost: $48,746
  • Average monthly payment: $795

• Total average cost for an auto loan for a new car: $48,482
• Average monthly car payment: $776
• New truck
  • Average total cost: $48,403
  • Average monthly payment: $771
• New SUV
  • Average total cost: $48,444
  • Average monthly payment: $773
• New electric car
  • Average total cost: $47,998
  • Average monthly payment: $741
• New sedan
  • Average total cost: $48,669
  • Average monthly payment: $790

• Total average cost for an auto loan for a new car: $48,610
• Average monthly car payment: $785
• New truck
  • Average total cost: $48,526
  • Average monthly payment: $779
• New SUV
  • Average total cost: $48,572
  • Average monthly payment: $783
• New electric car
  • Average total cost: $47,678
  • Average monthly payment: $718
• New sedan
  • Average total cost: $48,961
  • Average monthly payment: $811

• Total average cost for an auto loan for a new car: $48,337
• Average monthly car payment: $766
• New truck
  • Average total cost: $48,337
  • Average monthly payment: $766
• New SUV
  • Average total cost: $48,259
  • Average monthly payment: $760
• New electric car
  • Average total cost: $47,774
  • Average monthly payment: $725
• New sedan
  • Average total cost: $48,495
  • Average monthly payment: $777

• Total average cost for an auto loan for a new car: $48,279
• Average monthly car payment: $762
• New truck
  • Average total cost: $48,363
  • Average monthly payment: $768
• New SUV
  • Average total cost: $48,224
  • Average monthly payment: $758
• New electric car
  • Average total cost: $48,388
  • Average monthly payment: $769
• New sedan
  • Average total cost: $48,426
  • Average monthly payment: $772

• Total average cost for an auto loan for a new car: $48,163
• Average monthly car payment: $753
• New truck
  • Average total cost: $48,272
  • Average monthly payment: $761
• New SUV
  • Average total cost: $48,100
  • Average monthly payment: $749
• New electric car
  • Average total cost: $47,911
  • Average monthly payment: $735
• New sedan
  • Average total cost: $48,309
  • Average monthly payment: $764

• Total average cost for an auto loan for a new car: $48,327
• Average monthly car payment: $765
• New truck
  • Average total cost: $48,287
  • Average monthly payment: $762
• New SUV
  • Average total cost: $48,294
  • Average monthly payment: $763
• New electric car
  • Average total cost: $47,811
  • Average monthly payment: $728
• New sedan
  • Average total cost: $48,515
  • Average monthly payment: $779

• Total average cost for an auto loan for a new car: $48,538
• Average monthly car payment: $780
• New truck
  • Average total cost: $48,528
  • Average monthly payment: $780
• New SUV
  • Average total cost: $48,472
  • Average monthly payment: $775
• New electric car
  • Average total cost: $48,068
  • Average monthly payment: $746
• New sedan
  • Average total cost: $48,769
  • Average monthly payment: $797

• Total average cost for an auto loan for a new car: $48,702
• Average monthly car payment: $792
• New truck
  • Average total cost: $48,487
  • Average monthly payment: $777
• New SUV
  • Average total cost: $48,572
  • Average monthly payment: $783
• New electric car
  • Average total cost: $48,078
  • Average monthly payment: $747
• New sedan
  • Average total cost: $49,336
  • Average monthly payment: $838

• Total average cost for an auto loan for a new car: $48,439
• Average monthly car payment: $773
• New truck
  • Average total cost: $48,520
  • Average monthly payment: $779
• New SUV
  • Average total cost: $48,419
  • Average monthly payment: $772
• New electric car
  • Average total cost: $47,529
  • Average monthly payment: $708
• New sedan
  • Average total cost: $48,452
  • Average monthly payment: $774

• Total average cost for an auto loan for a new car: $48,234
• Average monthly car payment: $758
• New truck
  • Average total cost: $48,216
  • Average monthly payment: $757
• New SUV
  • Average total cost: $48,201
  • Average monthly payment: $756
• New electric car
  • Average total cost: $47,349
  • Average monthly payment: $695
• New sedan
  • Average total cost: $48,459
  • Average monthly payment: $775

• Total average cost for an auto loan for a new car: $48,279
• Average monthly car payment: $762
• New truck
  • Average total cost: $48,287
  • Average monthly payment: $762
• New SUV
  • Average total cost: $48,211
  • Average monthly payment: $757
• New electric car
  • Average total cost: $47,774
  • Average monthly payment: $725
• New sedan
  • Average total cost: $48,549
  • Average monthly payment: $781

• Total average cost for an auto loan for a new car: $48,337
• Average monthly car payment: $766
• New truck
  • Average total cost: $48,261
  • Average monthly payment: $760
• New SUV
  • Average total cost: $48,304
  • Average monthly payment: $763
• New electric car
  • Average total cost: $47,933
  • Average monthly payment: $737
• New sedan
  • Average total cost: $48,610
  • Average monthly payment: $785

• Total average cost for an auto loan for a new car: $48,256
• Average monthly car payment: $760
• New truck
  • Average total cost: $48,211
  • Average monthly payment: $757
• New SUV
  • Average total cost: $48,221
  • Average monthly payment: $757
• New electric car
  • Average total cost: $47,507
  • Average monthly payment: $706
• New sedan
  • Average total cost: $48,436
  • Average monthly payment: $773

• Total average cost for an auto loan for a new car: $48,350
• Average monthly car payment: $767
• New truck
  • Average total cost: $48,416
  • Average monthly payment: $771
• New SUV
  • Average total cost: $48,317
  • Average monthly payment: $764
• New electric car
  • Average total cost: $47,695
  • Average monthly payment: $720
• New sedan
  • Average total cost: $48,419
  • Average monthly payment: $772

• Total average cost for an auto loan for a new car: $48,500
• Average monthly car payment: $778
• New truck
  • Average total cost: $48,469
  • Average monthly payment: $775
• New SUV
  • Average total cost: $48,500
  • Average monthly payment: $778
• New electric car
  • Average total cost: $47,948
  • Average monthly payment: $738
• New sedan
  • Average total cost: $48,526
  • Average monthly payment: $779

• Total average cost for an auto loan for a new car: $48,508
• Average monthly car payment: $778
• New truck
  • Average total cost: $48,464
  • Average monthly payment: $775
• New SUV
  • Average total cost: $48,464
  • Average monthly payment: $775
• New electric car
  • Average total cost: $48,053
  • Average monthly payment: $745
• New sedan
  • Average total cost: $48,777
  • Average monthly payment: $798

• Total average cost for an auto loan for a new car: $48,208
• Average monthly car payment: $756
• New truck
  • Average total cost: $48,166
  • Average monthly payment: $753
• New SUV
  • Average total cost: $48,213
  • Average monthly payment: $757
• New electric car
  • Average total cost: $47,070
  • Average monthly payment: $675
• New sedan
  • Average total cost: $48,523
  • Average monthly payment: $779

• Total average cost for an auto loan for a new car: $48,345
• Average monthly car payment: $766
• New truck
  • Average total cost: $48,337
  • Average monthly payment: $766
• New SUV
  • Average total cost: $48,266
  • Average monthly payment: $761
• New electric car
  • Average total cost: $47,755
  • Average monthly payment: $724
• New sedan
  • Average total cost: $48,643
  • Average monthly payment: $788

• Total average cost for an auto loan for a new car: $48,241
• Average monthly car payment: $759
• New truck
  • Average total cost: $48,229
  • Average monthly payment: $758
• New SUV
  • Average total cost: $48,206
  • Average monthly payment: $756
• New electric car
  • Average total cost: $47,605
  • Average monthly payment: $713
• New sedan
  • Average total cost: $48,406
  • Average monthly payment: $771

• Total average cost for an auto loan for a new car: $48,269
• Average monthly car payment: $761
• New truck
  • Average total cost: $48,211
  • Average monthly payment: $757
• New SUV
  • Average total cost: $48,279
  • Average monthly payment: $762
• New electric car
  • Average total cost: $47,376
  • Average monthly payment: $697
• New sedan
  • Average total cost: $48,424
  • Average monthly payment: $772

• Total average cost for an auto loan for a new car: $48,045
• Average monthly car payment: $745
• New truck
  • Average total cost: $48,133
  • Average monthly payment: $751
• New SUV
  • Average total cost: $48,000
  • Average monthly payment: $741
• New electric car
  • Average total cost: $47,393
  • Average monthly payment: $698
• New sedan
  • Average total cost: $48,030
  • Average monthly payment: $744

• Total average cost for an auto loan for a new car: $48,566
• Average monthly car payment: $782
• New truck
  • Average total cost: $48,368
  • Average monthly payment: $768
• New SUV
  • Average total cost: $48,526
  • Average monthly payment: $779
• New electric car
  • Average total cost: $47,881
  • Average monthly payment: $733
• New sedan
  • Average total cost: $48,894
  • Average monthly payment: $806

• Total average cost for an auto loan for a new car: $48,485
• Average monthly car payment: $776
• New truck
  • Average total cost: $48,431
  • Average monthly payment: $773
• New SUV
  • Average total cost: $48,497
  • Average monthly payment: $777
• New electric car
  • Average total cost: $47,841
  • Average monthly payment: $730
• New sedan
  • Average total cost: $48,615
  • Average monthly payment: $786

• Total average cost for an auto loan for a new car: $48,294
• Average monthly car payment: $763
• New truck
  • Average total cost: $48,309
  • Average monthly payment: $764
• New SUV
  • Average total cost: $48,302
  • Average monthly payment: $763
• New electric car
  • Average total cost: $47,829
  • Average monthly payment: $729
• New sedan
  • Average total cost: $47,945
  • Average monthly payment: $738

• Total average cost for an auto loan for a new car: $48,219
• Average monthly car payment: $757
• New truck
  • Average total cost: $48,385
  • Average monthly payment: $769
• New SUV
  • Average total cost: $48,161
  • Average monthly payment: $753
• New electric car
  • Average total cost: $47,666
  • Average monthly payment: $718
• New sedan
  • Average total cost: $48,143
  • Average monthly payment: $752

• Total average cost for an auto loan for a new car: $48,431
• Average monthly car payment: $773
• New truck
  • Average total cost: $48,391
  • Average monthly payment: $770
• New SUV
  • Average total cost: $48,297
  • Average monthly payment: $763
• New electric car
  • Average total cost: $48,090
  • Average monthly payment: $748
• New sedan
  • Average total cost: $48,852
  • Average monthly payment: $803

• Total average cost for an auto loan for a new car: $48,176
• Average monthly car payment: $754
• New truck
  • Average total cost: $48,266
  • Average monthly payment: $761
• New SUV
  • Average total cost: $48,085
  • Average monthly payment: $748
• New electric car
  • Average total cost: $47,710
  • Average monthly payment: $721
• New sedan
  • Average total cost: $48,378
  • Average monthly payment: $769

• Total average cost for an auto loan for a new car: $48,299
• Average monthly car payment: $763
• New truck
  • Average total cost: $48,345
  • Average monthly payment: $766
• New SUV
  • Average total cost: $48,236
  • Average monthly payment: $758
• New electric car
  • Average total cost: $47,789
  • Average monthly payment: $726
• New sedan
  • Average total cost: $48,467
  • Average monthly payment: $775

• Total average cost for an auto loan for a new car: $48,860
• Average monthly car payment: $804
• New truck
  • Average total cost: $48,582
  • Average monthly payment: $783
• New SUV
  • Average total cost: $48,894
  • Average monthly payment: $806
• New electric car
  • Average total cost: $47,816
  • Average monthly payment: $728
• New sedan
  • Average total cost: $49,196
  • Average monthly payment: $828

• Total average cost for an auto loan for a new car: $48,332
• Average monthly car payment: $765
• New truck
  • Average total cost: $48,272
  • Average monthly payment: $761
• New SUV
  • Average total cost: $48,289
  • Average monthly payment: $762
• New electric car
  • Average total cost: $47,844
  • Average monthly payment: $730
• New sedan
  • Average total cost: $48,554
  • Average monthly payment: $781

• Total average cost for an auto loan for a new car: $48,401
• Average monthly car payment: $770
• New truck
  • Average total cost: $48,439
  • Average monthly payment: $773
• New SUV
  • Average total cost: $48,320
  • Average monthly payment: $764
• New electric car
  • Average total cost: $47,799
  • Average monthly payment: $727
• New sedan
  • Average total cost: $48,697
  • Average monthly payment: $792

• Total average cost for an auto loan for a new car: $48,434
• Average monthly car payment: $773
• New truck
  • Average total cost: $48,416
  • Average monthly payment: $771
• New SUV
  • Average total cost: $48,406
  • Average monthly payment: $771
• New electric car
  • Average total cost: $47,385
  • Average monthly payment: $697
• New sedan
  • Average total cost: $48,754
  • Average monthly payment: $796

• Total average cost for an auto loan for a new car: $48,510
• Average monthly car payment: $778
• New truck
  • Average total cost: $48,421
  • Average monthly payment: $772
• New SUV
  • Average total cost: $48,464
  • Average monthly payment: $775
• New electric car
  • Average total cost: $48,020
  • Average monthly payment: $743
• New sedan
  • Average total cost: $48,813
  • Average monthly payment: $800

• Total average cost for an auto loan for a new car: $48,485
• Average monthly car payment: $776
• New truck
  • Average total cost: $48,533
  • Average monthly payment: $780
• New SUV
  • Average total cost: $48,436
  • Average monthly payment: $773
• New electric car
  • Average total cost: $48,038
  • Average monthly payment: $744
• New sedan
  • Average total cost: $48,651
  • Average monthly payment: $788

• Total average cost for an auto loan for a new car: $48,224
• Average monthly car payment: $758
• New truck
  • Average total cost: $48,317
  • Average monthly payment: $764
• New SUV
  • Average total cost: $48,141
  • Average monthly payment: $752
• New electric car
  • Average total cost: $47,888
  • Average monthly payment: $733
• New sedan
  • Average total cost: $48,469
  • Average monthly payment: $775

• Total average cost for an auto loan for a new car: $48,241
• Average monthly car payment: $759
• New truck
  • Average total cost: $48,279
  • Average monthly payment: $762
• New SUV
  • Average total cost: $48,198
  • Average monthly payment: $756
• New electric car
  • Average total cost: $47,646
  • Average monthly payment: $716
• New sedan
  • Average total cost: $48,355
  • Average monthly payment: $767

• Total average cost for an auto loan for a new car: $48,186
• Average monthly car payment: $755
• New truck
  • Average total cost: $48,168
  • Average monthly payment: $754
• New SUV
  • Average total cost: $48,148
  • Average monthly payment: $752
• New electric car
  • Average total cost: $47,651
  • Average monthly payment: $716
• New sedan
  • Average total cost: $48,292
  • Average monthly payment: $762

• Total average cost for an auto loan for a new car: $48,577
• Average monthly car payment: $783
• New truck
  • Average total cost: $48,462
  • Average monthly payment: $775
• New SUV
  • Average total cost: $48,457
  • Average monthly payment: $774
• New electric car
  • Average total cost: $47,834
  • Average monthly payment: $730
• New sedan
  • Average total cost: $49,139
  • Average monthly payment: $824

• Total average cost for an auto loan for a new car: $48,198
• Average monthly car payment: $756
• New truck
  • Average total cost: $48,198
  • Average monthly payment: $756
• New SUV
  • Average total cost: $48,198
  • Average monthly payment: $756
• New electric car
  • Average total cost: $46,695
  • Average monthly payment: $649
• New sedan
  • Average total cost: $47,938
  • Average monthly payment: $737

• Total average cost for an auto loan for a new car: $48,467
• Average monthly car payment: $775
• New truck
  • Average total cost: $48,340
  • Average monthly payment: $766
• New SUV
  • Average total cost: $48,401
  • Average monthly payment: $770
• New electric car
  • Average total cost: $47,585
  • Average monthly payment: $712
• New sedan
  • Average total cost: $48,977
  • Average monthly payment: $812

• Total average cost for an auto loan for a new car: $48,579
• Average monthly car payment: $783
• New truck
  • Average total cost: $48,531
  • Average monthly payment: $780
• New SUV
  • Average total cost: $48,554
  • Average monthly payment: $781
• New electric car
  • Average total cost: $48,005
  • Average monthly payment: $742
• New sedan
  • Average total cost: $48,777
  • Average monthly payment: $798

• Total average cost for an auto loan for a new car: $48,138
• Average monthly car payment: $751
• New truck
  • Average total cost: $48,186
  • Average monthly payment: $755
• New SUV
  • Average total cost: $48,073
  • Average monthly payment: $747
• New electric car
  • Average total cost: $47,811
  • Average monthly payment: $728
• New sedan
  • Average total cost: $48,254
  • Average monthly payment: $760

• Total average cost for an auto loan for a new car: $48,244
• Average monthly car payment: $759
• New truck
  • Average total cost: $48,363
  • Average monthly payment: $768
• New SUV
  • Average total cost: $48,188
  • Average monthly payment: $755
• New electric car
  • Average total cost: $48,287
  • Average monthly payment: $762
• New sedan
  • Average total cost: $47,903
  • Average monthly payment: $735

• Total average cost for an auto loan for a new car: $48,315
• Average monthly car payment: $764
• New truck
  • Average total cost: $48,312
  • Average monthly payment: $764
• New SUV
  • Average total cost: $48,229
  • Average monthly payment: $758
• New electric car
  • Average total cost: $47,943
  • Average monthly payment: $737
• New sedan
  • Average total cost: $48,615
  • Average monthly payment: $786

• Total average cost for an auto loan for a new car: $48,148
• Average monthly car payment: $752
• New truck
  • Average total cost: $48,166
  • Average monthly payment: $753
• New SUV
  • Average total cost: $48,083
  • Average monthly payment: $747
• New electric car
  • Average total cost: $47,873
  • Average monthly payment: $732
• New sedan
  • Average total cost: $48,363
  • Average monthly payment: $768

• Total average cost for an auto loan for a new car: $48,441
• Average monthly car payment: $773
• New truck
  • Average total cost: $48,441
  • Average monthly payment: $773
• New SUV
  • Average total cost: $48,383
  • Average monthly payment: $769
• New electric car
  • Average total cost: $47,446
  • Average monthly payment: $702
• New sedan
  • Average total cost: $48,643
  • Average monthly payment: $788

• Total average cost for an auto loan for a new car: $48,118
• Average monthly car payment: $750
• New truck
  • Average total cost: $48,208
  • Average monthly payment: $756
• New SUV
  • Average total cost: $48,065
  • Average monthly payment: $746
• New electric car
  • Average total cost: $47,478
  • Average monthly payment: $704
• New sedan
  • Average total cost: $48,408
  • Average monthly payment: $771

• Total average cost for an auto loan for a new car: $48,358
• Average monthly car payment: $767
• New truck
  • Average total cost: $48,439
  • Average monthly payment: $773
• New SUV
  • Average total cost: $48,279
  • Average monthly payment: $762
• New electric car
  • Average total cost: $47,145
  • Average monthly payment: $680
• New sedan
  • Average total cost: $47,836
  • Average monthly payment: $730

Travis Woods contributed to the reporting for this gallery.

Methodology: The Edmunds Car Loan APRs were sourced for SUVs, trucks, electric cars and sedans in every state. The average car values from January 2025 were sourced from Kelley Blue Book. Assuming 20% down payment, the average auto loan payment for each car type in each state was calculated. All data was collected on and is up to date as of March 25, 2025.