Critical Shifts:
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Pervasive Consumer "Buyer's Remorse": The survey highlights a significant trust gap in the dealership financing model, with 25% of owners believing they didn't get the best deal and 44% reporting high pressure during the signing process. This suggests a growing consumer demand for transparent, low-pressure financing alternatives.
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Gen Z is the Most Vulnerable Demographic: Younger drivers are feeling the most heat, with 52% of Gen Z owners reporting moderate to high pressure during the purchase process. This demographic's discomfort indicates a shift in expectations for the car-buying experience toward digital-first, transparent platforms.
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A "Stability over Luxury" Savings Mindset: If borrowers were to save on their monthly payments, 60% would prioritize debt reduction and 56% would build emergency savings. This indicates that car payments have transitioned from a manageable expense to a primary source of household financial strain, with $150 in monthly savings cited as a life-changing threshold for 85% of respondents.
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Findings from Caribou’s 2026 Car Loan Sentiment Survey of 2,000 consumers with car loans reveals how Americans view their car payments and the role it plays in their household budgets:
The financing process left many borrowers uneasy. The survey finds that a significant share of drivers walked away from the dealership doubting the terms they accepted.
The survey showed 44% felt moderately or very pressured during the financing process at purchase, while 52% of Gen Z car owners felt moderate to high pressure, the highest of any age group.
The survey showed 1 in 4 owners don’t believe they got the best financing deal available to them. Affordability is a growing problem, the survey showed.
The sticker shock didn’t end at the dealership. Today, Americans juggle affordability challenges that have turned car payments into one of the most difficult line items in household budgets.
The survey showed 30% of owners struggled to make their car payment on time in the last 12 months and 22% say their monthly payment is currently difficult to afford.
The survey also showed 65% have noticed car prices rise in the past year. Of those, 41% plan to keep their current vehicle longer rather than buy new.
When asked what lower monthly payments would actually mean for their households, borrowers weren’t describing vacations or splurges. For most people, financial breathing room would go straight toward stability and survival.
The survey showed 60% would use those savings to pay down other debt, 56% would build emergency savings, and 56% would cover everyday expenses.
The survey also showed 85% of borrowers say saving $150 a month on their car loan would make life “significantly easier”.
“Most car owners we surveyed are carrying real financial stress, and many of them are sitting on a loan they’ve never questioned,” says Simon Goodall, CEO of Caribou. “That’s understandable. Life gets busy and revisiting a loan you already closed doesn’t feel urgent. But the math often makes a compelling case. Checking your rate takes minutes, doesn’t affect your credit score, and in this environment, that five-minute check could be worth thousands of dollars a year.”.
