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Car Repossessions Surge 23% as Americans Fall Behind on Payments (www.bloomberg.com)

submitted 3 months ago by [email protected] to c/[email protected]

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[–] [email protected] 0 points 3 months ago* (last edited 3 months ago) (1 children)

so it can’t account for a 23% surge.

Why not? I don't see this logic

The Fed raising interest rates affects lots of things directly, including the cost of home and auto loans, not just unemployment rates, which are indirectly affected

[–] [email protected] 0 points 3 months ago* (last edited 3 months ago)

Exactly. Auto loans are relatively short-term, and you're probably more likely to default relatively early into the loan than later, esp. since you would no longer be upside-down later on.