What's your car payment? Or are you lucky enough not to have one? The price of cars has been increasing as more technology is being integrated into them. Also, the pandemic and supply chain disruptions have driven prices of used vehicles to record highs in recent years.

New car sales also are seeing increases, especially with the federal interest rate being hiked up to 5.25%. This was done by the government to curb out-of-control inflation. The higher the interest rate means the more money you'll be paying out monthly for your vehicle. The statistics come from Simply Insurance.

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National Average For New Car Payments In US

In the United States, the average car payment for a new vehicle is $575 a month. The average loan amount on a new vehicle is $34,635.

National Average For Used Cars

In the US, the average monthly payment for a used car was $393 per month. The average loan for a used car is $21,500.

Cheerful young woman receiving the keys of her new car at car dealership.

Minnesota New & Used Car Payment Amounts

Statistics show that Minnesotans pay on average $530 a month for a new car. For a used car the average payment is $322.

Wisconsin New & Used Car Payment Amounts

Wisconsin's numbers are pretty similar. A new car payment averages $523 a month and a used car payment is an average of $327 per month.

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What's the average loan length in the United States?

Loan terms are getting longer as well. A new vehicle loan average is 69 months. That's almost 6 years.  Used vehicles have an average loan length of 35 months.

Lease payments are on the rise as well.

For people who like to lease their vehicles, they've seen increases in the cost in the last few years. New cars leased fell to 27% of the new cars on the road in 2020.

LOOK: See how much gasoline cost the year you started driving

To find out more about how has the price of gas changed throughout the years, Stacker ran the numbers on the cost of a gallon of gasoline for each of the last 84 years. Using data from the Bureau of Labor Statistics (released in April 2020), we analyzed the average price for a gallon of unleaded regular gasoline from 1976 to 2020 along with the Consumer Price Index (CPI) for unleaded regular gasoline from 1937 to 1976, including the absolute and inflation-adjusted prices for each year.

Read on to explore the cost of gas over time and rediscover just how much a gallon was when you first started driving.

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