Reported about 15 hours ago
The U.S. car market is facing a significant crisis, with rising auto loan defaults and record levels of debt per household, reaching $1.64 trillion. This situation worsened following supply chain issues during the pandemic, resulting in inflated car prices and high-interest rates. As tariffs on imports further strain consumers, potential buyers are advised to purchase before price hikes occur and consider options like cheaper used cars or refinancing to manage debts.
Source: YAHOO