America’s auto market is under pressure. Data from the Recovery Database Network and analysis by CU Repossession show that authorizations to reclaim vehicles have already topped 7.5 million this year and could reach up to 10.5 million by year’s end. 
This surge comes as auto loan delinquencies climb, interest rates stay high, and car prices remain elevated. Experts warn that this isn’t just about wheels when people lose their ride, their ability to work, build credit, and get ahead takes a hit. 
Consumers who financed vehicles at peak prices are finding themselves overwhelmed. With the average care note ranging from 500-1100 a month and traditional auto loans jumping up to 72 months! For the everyday person trying to keep up with bills, this could hit hard. Who remembers $200 car notes for 48 months? Guess that’s a thing of the past.
