Experian’s Q2 2026 State of the Automotive Finance Market summary (updated September 10) shows 23.75% of new vehicles were leased in the second quarter—slightly below 24.04% a year earlier and well below 26.23% in Q2 2024. Financing still dominates, but nearly one in four new-car deals is still a lease.
The payment gap explains the pull. Experian’s Q2 averages put a typical new-car loan near $765 a month on about $43,610 financed at 6.35% APR over roughly 69.5 months. The average lease payment was $617. Used-car loans averaged about $542 a month on $27,852 at 11.19% APR.
None of those figures is your quote. They do show why a Saturday showroom script that starts with “payment” without clarifying lease residual, mileage caps, or loan term can steer you into the wrong product.
A lease payment looks lower because you are financing depreciation and fees for a set term—not the full vehicle. A loan payment looks higher, but you build equity (or at least own the car when the note ends). Mixing those paths mid-negotiation is how shoppers accept a payment without understanding total cost.
Get a clear read on loan standing first. TX Auto Approval helps Texas drivers check financing options before they commit to a desk payment. Pre-approval is about knowing a realistic loan range so you can decide whether a lease’s lower payment is worth the mileage limits and end-of-term rules—or whether a used loan’s higher APR still beats a stretched new-car note.
Credit still sets the spread. Experian’s Q2 tier table shows new-car APRs ranging from about 4.41% for super-prime borrowers to 16.11% for deep-subprime, with used-car APRs even wider. Your score, down payment, term, and vehicle age move the needle more than a national average screenshot.
Ask for APR, term, and cash price on the same sheet—then ask for the lease money factor, residual, and mileage separately if you are comparing.
Do not treat “$617 average lease” as a target. Residuals and fees vary by model and trim.
If credit is thin or damaged, say so early. Shopping the loan path before you fall in love with a payment keeps the conversation honest.
Takeaway: Lease share stayed near 24% in Q2 2026 while average lease payments sat well below average new-loan payments. Run Texas pre-approval first so lease-versus-finance is a choice—not a surprise at the desk.