As vehicle prices have risen, amid elevated interest rates and high living costs, so too have repossessions in recent years. Cox Automotive estimates yearly auto repossessions went up about 43% ...
Earlier this year, a joint announcement from three of the largest repossession organizations — Allied Finance Adjusters, American Recovery Association and Eagle Group XX — reiterated their definitions ...
Auto repossessions spiked in 2022 above pre-pandemic levels, coinciding with a sharp increase in the use of third-party repo agents and higher costs to consumers, the Consumer Financial Protection ...