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Auto Loan Debt Hits $1.66 Trillion, Crisis Looms

9/15/2025

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Summary

Story summary

U.S. auto loan debt has reached $1.66 trillion, with rising delinquencies and repossessions, especially among subprime borrowers.
The Consumer Federation of America (CFA) warns of a potential auto finance crisis, reminiscent of the 2008 financial crash.
Average monthly car payments are $745, with 20% of buyers paying over $1,000 due to high interest rates.
Vehicle repossessions rose by 43% from 2022 to 2024, impacting younger borrowers significantly.
The National Automobile Dealers Association attributes high car prices to technological advancements and supply chain issues, countering CFA's concerns.

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Story summary

U.S. auto loan debt has reached $1.66 trillion, with rising delinquencies and repossessions, especially among subprime borrowers.
The Consumer Federation of America (CFA) warns of a potential auto finance crisis, reminiscent of the 2008 financial crash.
Average monthly car payments are $745, with 20% of buyers paying over $1,000 due to high interest rates.
Vehicle repossessions rose by 43% from 2022 to 2024, impacting younger borrowers significantly.
The National Automobile Dealers Association attributes high car prices to technological advancements and supply chain issues, countering CFA's concerns.