Two new reports released this week show that Americans as a whole spend $717 billion annually on auto loans and auto insurance combined. A statistical analysis of actual household payments toward auto loans and auto insurance was used to size the market and amount spent per household across 97% of U.S. zip codes.
The “2025 U.S. Auto Loan Market Size and Household Spending Report” and the “2025 U.S. Auto Insurance Market Size and Household Spending Report” found that U.S. households with auto loan and auto insurance bills spend a median of $575 per month, or $6,900 per year.
The reports break out the household spending market size; percentage of households that pay each bill; and median monthly and annual bill pay costs by state, as well as the 50 largest U.S. cities (based on the number of households), and those cities with 40,000 or more residents.
Auto Loans Market Size and Household Spending
Auto Insurance Market Size and Household Spending
The cost of car ownership continues to climb. Auto loan debt has reached $1.66 trillion, up $13 billion according to the latest “Quarterly Report on Household Debt and Credit.” Elevated interest rates, persistent inflation, and higher vehicle prices are driving expenses higher, while full-coverage auto insurance premiums have risen 12% in 2025 compared to last year.
| State | Monthly Auto Insurance Median Bill |
Monthly Auto Loan Median Bill |
Monthly Total² |
| Nevada | $123 | $559 | $682 |
| New Jersey | $150 | $500 | $650 |
| Maryland | $150 | $500 | $650 |
| Massachusetts | $167 | $473 | $640 |
| Hawaii | $118 | $520 | $638 |
| Florida | $138 | $500 | $637 |
| California | $122 | $515 | $625 |
| Georgia | $125 | $500 | $625 |
| Arizona | $125 | $500 | $624 |
| Tennessee | $124 | $500 | $616 |
| City | Monthly Auto Insurance Median Bill |
Monthly Auto Loan Median Bill |
Monthly Total² |
| New York, NY | $218 | $571 | $789 |
| Tucson, AZ | $110 | $646 | $756 |
| Birmingham, AL | $287 | $440 | $727 |
| Memphis, TN | $142 | $557 | $699 |
| Boston, MA | $167 | $531 | $698 |
| Seattle, WA | $161 | $535 | $696 |
| Jacksonville, FL | $200 | $484 | $684 |
| Phoenix, AZ | $125 | $552 | $677 |
| Los Angeles, CA | $127 | $546 | $673 |
| Chicago, IL | $172 | $500 | $672 |