DENVER--(BUSINESS WIRE)--May 7, 2026--
Millions of car owners are caught in a double bind. Many didn’t get a good deal when they first bought their car. Nearly half (44%) felt pressured during the original financing process. Now, those same borrowers are absorbing the full force of inflation, high gas prices, and rising everyday costs with a loan that was never revisited. Caribou’s 2026 Car Loan Sentiment Survey* captures the scope of this squeeze—and finds that most borrowers have never even checked whether they could be paying less.
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Key findings from Caribou’s 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
A car often represents the second-largest monthly expense behind housing, yet the buying experience often leaves drivers feeling rushed or uncertain. The survey finds that a significant share of drivers walked away from the dealership doubting the terms they accepted.
Affordability is a growing problem
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.
Monthly savings would be a lifeline, not a luxury
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.
Refinancing is an overlooked option most drivers haven’t tried
Despite widespread financial strain, most borrowers have never shopped for a better rate on their existing loan.
"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.”
Drivers can estimate their savings in seconds with Caribou's auto refinance calculator, and get pre-qualified in just minutes. Full survey findings are available on Caribou.com.
About Caribou
Caribou helps drivers take control of their car loan with real savings, trusted lending partners, and expert help every step of the way. With its advanced technology and friendly loan advisors, Caribou makes the auto refinancing process quick, easy, and transparent. Caribou shares the latest auto refinance trends each quarter, and current refinance rates each day, to provide the most in-depth, real-time insights about the auto refinance market. Customers save up to $162 per month by refinancing through Caribou.** The company is backed by QED Investors, Goldman Sachs, and other leading investors. Learn more at www.caribou.com.
*Caribou's 2026 Car Loan Sentiment Survey was conducted from March 27 to April 1, 2026 among 2,000 U.S. respondents to learn about how consumers financed their car loans, their attitudes regarding auto refinancing, and how their car payments impact their everyday lives. All respondents currently have a car loan on their primary vehicle.
**This information is estimated based on consumers whose auto refinance loan funded through Caribou between 1/1/2026 and 3/31/2026, had an existing auto loan on their credit report, and selected a loan offer to reduce their monthly payment.
For most car owners, monthly savings on their auto loan would be a lifeline, not a luxury. Financial breathing room would go straight toward stability and survival.
