Car Repossessions on the Rise: Is it Time to Drop Your Car Payment?

Since the pandemic-induced recession began, prices of most goods have remained over 20 percent more expensive. Car repossessions are up 23 percent this year, making it a great time to consider dropping your car payment for something more affordable.

Why Consider Dropping Your Car Payment?

If you are feeling the financial strain of the current economic climate, it may be time to reevaluate your car expenses. With prices on the rise and car repossessions increasing, now is the perfect opportunity to explore more budget-friendly options.

Exploring Affordable Alternatives

Whether you are making a conscious decision to downsize your expenses or simply looking to save money, there are plenty of affordable alternatives to consider. From used cars to public transportation, there are various options available that can help ease the burden on your wallet.

Is Car Ownership Becoming Too Expensive?

With the average cost of a new car jumping $10,000 in the past five years, many Americans are finding it increasingly difficult to afford car ownership. It’s important to assess your financial situation and explore alternative transportation options that better align with your budget.

For more information on affordable car options, click here.