Feb 6, 2023
The used car bubble is popping faster than it did in 2009. We look at the value of used vehicles. We can see that on average, for decades it climbed at a very steady pace.
There was a big collapse and then a big recovery in 2008 to 2009. Since 2020, obviously there was a giant spike in the price of used vehicles and it looks like that has now turned around.
Because of this. Americans are not paying their car payments. We are seeing repossessions at a record high.
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