FORT WAYNE, Ind. — Car payments are consuming a growing share of household income for many drivers, with a new analysis finding that where a person lives can make a significant difference in how financially burdensome a vehicle payment becomes.

ConsumerAffairs, working with auto loan refinancing company Auto Approve, analyzed information from more than 38,000 vehicle owners who were seeking to refinance their cars.

The analysis examined three factors: the share of a state’s median income going toward its median monthly car payment, the median annual percentage rate on auto loans and the length of those loans.

Longer loan terms can lower a driver’s monthly payment, but they generally mean more interest is paid over the life of the loan.

The analysis found that nine of the 10 states with the greatest car-payment burdens are in the South.

Mississippi ranked as the state where drivers were most “car poor.” Vehicle owners seeking to refinance there reported spending nearly 17% of their income on their monthly car payments.

That works out to roughly one dollar out of every six dollars earned going toward the vehicle.

Jailyn Rodriguez of ConsumerAffairs said the amount of a car payment alone doesn’t tell the entire story. Household income plays a major role in determining how much financial pressure a vehicle creates.

“Nine out of 10 most car poor states are located in the South, and it doesn’t only come down to the number that they’re paying,” Rodriguez said. “So their actual car payment — it actually has more to do with their median monthly income.”

For drivers struggling with a high payment, refinancing may be one option worth investigating, particularly if their financial circumstances have changed since they purchased their vehicle.

Rodriguez recommends checking whether a driver’s credit score has improved or whether interest rates have fallen since the original auto loan was taken out.

“You want to look at your options for refinancing,” Rodriguez said. “Since you originally bought the car, has your credit improved? Have interest rates gone down? Depending on that answer, it could be time to refinance.”

However, refinancing does not automatically mean a driver will save money.

One potential drawback is extending the length of the loan. A lower monthly payment may look attractive, but stretching the remaining balance over a longer period can increase the total amount of interest paid.

Drivers considering refinancing should compare the new interest rate, monthly payment, remaining loan balance and total repayment amount with their existing loan.

If refinancing does not produce meaningful savings, other options may be available.

A driver could consider selling the vehicle, trading it for a less expensive model or reviewing the household budget for other areas where expenses can be reduced.

The analysis highlights a broader issue facing vehicle owners: affordability is determined not only by the sticker price of a car, but also by the relationship between the payment, interest rate, loan term and household income.

For drivers who feel “car poor,” understanding that entire cost — rather than focusing solely on the monthly payment — can help determine whether refinancing, downsizing or another financial change makes the most sense.