Americans are Drowning In Auto Loan Debt — Now Could Be the Best Time to Refinance
U.S. consumers owe a record $1.66 trillion in auto loan debt, according to the Consumer Federation of America, making it the largest category of consumer debt after mortgages. Nearly one in five (19.3%) borrowers have monthly car payments of at least $1,000, quadruple the number in 2019. Auto lending is in turmoil, with delinquencies and…

