Recovery Agent or “repo man” Jeff Grevelding prepares to tow a vehicle after its owner fell behind in loan payments in Syracuse, N.Y. on March 7, 2012. (John Moore/Getty Images) More Americans are falling behind on their car payments at the highest rate since the Great Recession over a decade ago.
A combination of the Federal Reserve’s interest rate hikes and high inflation has taken a toll on car owners nationwide.
A rise in auto repossessions has been sweeping the country, a bad sign for the U.S. economy, as it faces signs of a looming recession.During the pandemic, many car buyers […]
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