Debt & Savings
Car Repossessions Surged Last Year to Highest Level Since 2009
Americans are struggling to afford their monthly payments in a sign of consumer stress hitting the US economy.
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Car repossessions surged last year to the most since 2009, a sign that mounting consumer stress is reverberating through the US economy.
In 2024, roughly 1.73 million vehicles were seized, according to data from Cox Automotive, up 16% from the year prior and 43% compared with 2022. The last time repos hit this level the US economy was reeling from the financial crisis.