The delayed day of reckoning has arrived for millions of Americans who purchased vehicles during the pandemic auto boom. Many are now finding themselves trapped in a shitstorm of negative equity and burdened by costly monthly payments, all while low- and mid-tier consumers face mounting financial strain amid elevated inflation and high interest rates.
Before we dive into the new auto data, let's revisit our latest coverage of the slow-rolling auto crisis: . .
Source (zerohedge.com)
Unless you buy a used car from a private owner there isn't a situation where you would not be underwater. This shouldn't be news to anyone.
