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Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Repair Windows errors before they cause bigger problemsFix Now →Scan for outdated or missing drivers - takes under a minuteDriver Scan →Yes—available estimates indicate that U.S. vehicle repossessions rose substantially between 2022 and 2024, but there is no single comprehensive national count that makes every “repo rate” comparable. Cox Automotive estimated that repossessions in 2024 were 43% higher than in 2022, according to the Consumer Federation of America. Separately, CFPB data from nine major lenders show that 0.75% of outstanding loans in that sample were assigned to repossession in December 2022. Those figures measure different things; neither is a definitive national rate of completed repossessions.
Are car repossessions going up?
The strongest recent national trend estimate identified here points upward: Cox Automotive estimated that repossessions in 2024 were 43% above 2022 and at their highest estimated level since 2009. The Consumer Federation of America reported that estimate in 2025. It is an industry estimate, not a complete official count of every vehicle repossessed in the United States. Consumer Federation of America’s report
A different measure comes from the Consumer Financial Protection Bureau. In data covering accounts with activity at nine major auto lenders from 2018 through 2022, 0.75% of outstanding vehicle loans were assigned to repossession in December 2022, compared with 0.61% in December 2019. That is a monthly assignment rate within the CFPB sample—not the percentage of all U.S. cars actually repossessed. CFPB’s January 2024 release
The measures are complementary, not interchangeable: one is an estimated count over two years, while the other is a one-month share of loans assigned to repossession at a limited group of lenders.
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What do the different “repo rate” numbers measure?
Repossession data are less widely available than data for many other credit markets, the CFPB says. A figure called a “rate” may refer to lender assignments, completed repossessions, accounts or balances in active repossession status, or delinquency. The denominator and population matter as much as the percentage. CFPB’s auto-lending market monitoring report
| Figure | What it measures | Population and period | How to interpret it |
|---|---|---|---|
| 43% increase | Estimated repossession count | Cox Automotive estimate for 2024 versus 2022, as reported by CFA in 2025 | Indicates a substantial estimated rise; not a complete official national count. |
| 0.75% versus 0.61% | Outstanding loans assigned to repossession during a month | December 2022 versus December 2019 in CFPB data from nine major lenders | Assignment is not proof that a repossession was completed; not a nationwide share of cars. |
| 2.95% versus 2.96% | Annualized transition of auto-loan balances into serious delinquency | Q4 2025 versus Q4 2024, New York Fed | A delinquency measure, not a repossession rate. |
| About 5% versus under 0.5% | Balances in active repossession status | Buy-Here-Pay-Here proxy sample versus traditional auto-lender balances, Q3 2025, Federal Reserve | A subgroup comparison from a specific proxy sample, not an all-market national rate. |
The New York Fed reported $1.67 trillion in auto-loan balances at the end of Q4 2025 and a 2.95% annualized transition into serious auto delinquency in that quarter, nearly unchanged from 2.96% in Q4 2024. These data show the scale of auto debt and the recent delinquency trend; they do not count repossessions. New York Fed Household Debt and Credit data
Why are repossessions increasing?
Higher vehicle and financing costs can leave borrowers with less room to absorb a setback, but market-wide factors do not explain every individual repossession. The CFPB said supply-chain shocks and higher interest rates drove up the cost of buying and financing a car. Then-CFPB Director Rohit Chopra said in the agency’s January 2024 release: “Supply chain shocks and higher interest rates drove up costs to purchase and finance a car,” CFPB
Federal Reserve analysis found that larger loan amounts were a major driver of rising monthly auto payments in the period studied, rather than interest rates alone. From 2020 Q1 to 2023 Q3, loan size rose more than 20%, while median nominal earnings increased 15%. The analysis also discusses lender approvals and shifts in originations across lender types. These are market-level patterns and associations, not a complete causal account of repossessions. Federal Reserve analysis of auto payments and delinquencies
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Auto debt totaled more than $1.64 trillion through Q3 2024, spread across over 100 million active auto-finance accounts, according to CFPB research published in 2025. A large number of financed vehicles means payment stress can affect many households, but the debt total alone does not show how many vehicles will be repossessed. CFPB auto-lending market monitoring report
Does repossession risk vary by lender type?
Yes, the available Federal Reserve comparison shows a marked difference between Buy-Here-Pay-Here (BHPH) lending and traditional auto lending, but it applies to the paper’s proxy sample rather than every lender or borrower. In that sample, about 5% of BHPH balances were in active repossession status in Q3 2025, compared with less than 0.5% of traditional auto-lender balances. Federal Reserve note on Buy-Here-Pay-Here auto loans
The Federal Reserve describes BHPH lenders as serving borrowers with lower credit scores and higher delinquency rates than traditional auto finance. BHPH loans also often have higher interest rates and more frequent repayment schedules. Those characteristics help explain why segment comparisons matter; they do not establish the outcome for any particular borrower.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What can happen after a car is repossessed?
Losing a vehicle can disrupt access to work and daily necessities, and repossession does not necessarily erase the loan. After the vehicle is sold, a borrower may still owe a remaining balance and fees. In the CFPB’s nine-lender data, consumers who still owed money after repossession had an average remaining balance exceeding $11,000 in December 2022. That figure describes the agency’s sample, not every repossession. CFPB’s January 2024 release
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The CFPB also found that third-party repossession forwarder use in its lender data rose from 31% in January 2018 to 66% in December 2022. The agency said average repossession costs charged to consumers were higher when a forwarder was used. The figures describe the lenders studied and do not establish what any individual borrower will be charged.
Repossession can also harm credit. CFPB complaint reporting includes borrowers’ accounts of being unable to obtain help after job loss or illness, vehicles being repossessed despite claimed payment arrangements or automatic payments, tow operators damaging vehicles, and difficulty retrieving personal property. These are complaint themes and allegations summarized by the agency; they are not findings that every reported account was substantiated. CFPB auto-lending market monitoring report
What should you do if you may be behind on payments?
Act promptly and keep a clear record. The right to notice, time to catch up, redemption options, and rules for personal property depend on state law and the circumstances; the sources here do not establish a universal rule.
Quick Recap
- Contact the lender as soon as possible. Ask what options may be available and request any payment arrangement in writing.
- Keep records. Save payment confirmations, account statements, messages, and notes about calls or agreements.
- If the vehicle has been repossessed, request an itemized account. Ask for the charges, sale proceeds, and calculation of any remaining balance.
- Get help with a dispute. For questions about whether the lender or repossession company followed applicable rules, consult a qualified attorney or legal-aid organization familiar with your state’s law.
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