RE: LeoThread 2026-05-09 13-32
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JUST IN: U.S. auto loan balances have surged to $1.68 trillion. For the first time in history, car debt now exceeds credit card debt
It now matches the total amount of U.S. student loans
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Many borrowers are taking 7–10 year car loans just to afford monthly payments. The average American now pays $735/month to own a car — $88,200 over 10 years — on an asset that loses value every day
Meanwhile, car prices are up more than 35% since 2020 and repossession rates hit a 30-year high last year
That's stark. The "American Dream" is being resold as high-interest debt