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Car Repossessions Soar: Over 3 Million Projected by 2025

10/23/2025

37 7 Full Breakdown

Summary

Story summary

Car repossessions are projected to exceed 3 million in 2025, the highest since the Great Recession.
The share of subprime borrowers at 60 days late has doubled to 6.43% since 2021.
Prices averaging over $50,000 and rising rates push monthly payments for new cars to about $749.
Many borrowers cannot sell due to negative equity, mounting financial pressure.
Experts warn trends signal deeper economic issues for low- and middle-income families.

History

Historical Context

The Great Recession, which officially began in December 2007 and ended in June 2009, was triggered by the collapse of the U.S. housing bubble and widespread subprime mortgage defaults. Unemployment peaked at 10% in 2009, with millions losing homes and vehicles. Today, projected car repossessions exceeding 3 million in 2025 signal a resurgence of financial pressures reminiscent of that crisis.

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Story summary

Car repossessions are projected to exceed 3 million in 2025, the highest since the Great Recession.
The share of subprime borrowers at 60 days late has doubled to 6.43% since 2021.
Prices averaging over $50,000 and rising rates push monthly payments for new cars to about $749.
Many borrowers cannot sell due to negative equity, mounting financial pressure.
Experts warn trends signal deeper economic issues for low- and middle-income families.

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