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Car Repossessions Surge: Warren Investigates Auto Lending Crisis

2/5/2026

50 9 Full Breakdown

Summary

Story summary

In New York, car repossessions are surging to levels not seen since the Great Recession.
Senator Elizabeth Warren (D-Mass.) has opened an investigation into auto lending and has asked major lenders for information.
The average price of a new car has reached $50,000 while high interest rates have driven a record 6.74% subprime delinquency rate.
The Consumer Financial Protection Bureau has seen its power diminished under U.S. President Donald Trump.

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Story summary

In New York, car repossessions are surging to levels not seen since the Great Recession.
Senator Elizabeth Warren (D-Mass.) has opened an investigation into auto lending and has asked major lenders for information.
The average price of a new car has reached $50,000 while high interest rates have driven a record 6.74% subprime delinquency rate.
The Consumer Financial Protection Bureau has seen its power diminished under U.S. President Donald Trump.