My car was repossessed after 6 months of missed payments during a hospital stay. I still owe $20,000 on a 5-year loan with 4 years left — am I responsible for the full amount?

Taking on a car loan comes with a lot of responsibility. With Experian reporting that the 2024 average car payment for new and used cars sat at $734 and $525 per month, respectively, it's very easy ...
WLWT

Car repossessions surge in the U.S., signaling possible economic strain

Car repossessions in the United States have reached their highest rate since the 2009 recession, reflecting economic strain and rising costs for vehicle owners.Michael Jones, an economics professor at ...
Auto Remarketing

Commercial consignor sales at auction reflect strength in off-rental, repo volumes

Auction sales of 2-year-old vehicles from commercial consignors climbed nearly 32% year-over-year in November and beat ...
Carscoops

Car Repossessions Return To Great Recession Levels As 1.7 Million Vehicles Taken Back

There were 2,332,837 auto loan defaults last year, exceeding levels seen during the Great Recession. Approximately 1.73 million vehicles were repossessed, which was the highest level in over a decade.
Auto Remarketing

PODCAST: Moving repo cars & why ‘old habits die hard’

We continue our episodes of the Auto Remarketing Podcast originating from Used Car Week 2024 in Scottsdale, Ariz., with a panel discussion focused on why “old habits die hard” when it comes to ...