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Americans struggling to make car payments is highest since Great Recession

Posted on AllSides January 27th, 2023
From The Right
Kena Betancur/VIEWpress / Getty Images

A growing number of Americans are falling behind on their car payments, an ominous sign for the U.S. economy as high car prices and persistent inflation strain household budgets. 

Car repossessions tumbled in the early days of the pandemic when the government sent millions of Americans stimulus checks. But they have progressively ticked higher as sky-high prices for used and new cars alike forced consumers to take out bigger loans.  

In December, the percentage of subprime auto borrowers who were at least 60 days late on their bills climbed...

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