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Car ownership costs rising for U.S. drivers
A survey by Caribou of 2,000 U.S. car owners conducted in August 2026 reveals that 38% of drivers faced unexpected vehicle expenses of $500 or more within the past year.
Data indicates that while 70% of drivers are aware of their monthly car payments, only 25% know the total interest they will pay over the life of their loan. The average loan term for new vehicles reached 70.5 months in Q3 2026, according to Edmunds.
Additionally, the Bureau of Labor Statistics reported that motor vehicle maintenance and repair prices increased by 4.9% between January 2025 and January 2026. The survey also found that 41% of drivers were surprised by the frequency and cost of necessary car repairs.
Entities
Bureau of Labor Statistics · Caribou · Edmunds · United States
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] 41% of drivers were surprised by the expense and frequency of car repairs. keyt.com · kioncentralcoast.com · kesq.com
- [● 3 SOURCES] The average loan for a new vehicle was 70.5 months in Q3 2026. keyt.com · kioncentralcoast.com · kesq.com
- [● 3 SOURCES] 38% of U.S. drivers had an unexpected car expense of $500 or more in the past year. keyt.com · kioncentralcoast.com · kesq.com
- [● 3 SOURCES] Only 25% of drivers could recall how much interest they will pay over the life of their loan. keyt.com · kioncentralcoast.com · kesq.com
- [● 3 SOURCES] Motor vehicle maintenance and repair prices rose 4.9% from January 2025 to January 2026. keyt.com · kioncentralcoast.com · kesq.com
- [● 3 SOURCES] 70% of drivers could recall their monthly car payment. keyt.com · kioncentralcoast.com · kesq.com