Car Repossessions Approaching Record High as Delinquency Rates Soar
Summary
A high number of cars are being taken back by lenders because people are not keeping up with their car loan payments. Over 7.5 million repossession requests have been recorded in 2025, and this number might reach 10.5 million by the year's end. The problem is linked to high car prices and interest rates, causing financial stress for many Americans.Key Facts
- Over 7.5 million car repossession assignments have been made in 2025.
- It is expected that up to 10.5 million repossession assignments could occur by the end of the year.
- More than three million cars might be repossessed in 2025, a number last seen during the 2009 recession.
- Auto loan delinquencies are high, with 6.43% of subprime auto loans at least 60 days late in August.
- The combined U.S. auto loan debt is over $1.66 trillion.
- The average cost of a new vehicle reached $50,000 in September 2025, the highest ever recorded.
- Delinquencies in auto loans have increased by over 50% in the last 15 years.
- About 820,236 vehicles are estimated to be repossessed in the last quarter of 2025.
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