An increasing number of auto loans are several months past due. That’s a sign that people who are already struggling with the higher cost of living are falling further behind.
COVID-19 changed the used car market as supply chain constraints and rising demand pushed prices higher. In 2025, those ripple effects are still being felt.
The gap between the average price of a new and used vehicle eclipsed $20,000, according to Edmunds — the widest gap since the site started tracking it in 2004.