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https://www.wsj.com/articles/car-breakdowns-are-making-more-people-fall-behind-on-their-loans-15ed18b5

Car Breakdowns Are Making More People Fall Behind on Their Loans

Borrowers have big monthly payments for older cars and face steep bills when the vehicles need repairs

The cost of maintaining and repairing a vehicle has been going up, according to Bureau of Labor Statistics data. Whitney Curtis for The Wall Street Journal
By Ben Eisen
 and Gina Heeb

Cars are staying on the road longer, reaching an age where they need substantial repairs or break down. It is a key reason more people are falling behind on their auto loans.

The trend, noted by lenders, consumer attorneys and others, is another example of the long-lasting effects of the pandemic, which transformed the auto industry by making new and lightly used vehicles hard to come by.

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Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved.

Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.