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Auto Loan Defaults Surge as Repossessions Hit 15-Year High

9/10/2025

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Summary

Story summary

The Consumer Federation of America (CFA) reports rising auto loan defaults and repossessions in the U.S., signaling potential economic crises.
The average vehicle price approaches $50,000, with many buyers facing monthly payments exceeding $1,000.
Auto loan delinquencies have surged, especially among younger borrowers and those with average credit scores.
Repossessions increased by 43% from 2022 to 2024, reaching levels not seen since 2009.
Reduced oversight from agencies like the CFPB and FTC raises concerns among advocates about consumer protection.

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Story summary

The Consumer Federation of America (CFA) reports rising auto loan defaults and repossessions in the U.S., signaling potential economic crises.
The average vehicle price approaches $50,000, with many buyers facing monthly payments exceeding $1,000.
Auto loan delinquencies have surged, especially among younger borrowers and those with average credit scores.
Repossessions increased by 43% from 2022 to 2024, reaching levels not seen since 2009.
Reduced oversight from agencies like the CFPB and FTC raises concerns among advocates about consumer protection.