Lenders face steeper deficiency balances as repo levels climb
Vehicle repossessions hit 1.73 million units last year
With auto repossessions nearing a record 2 million units this year, the influx of vehicles at auction will likely pressure used-car prices and lead to higher deficiency balances for lenders. Vehicle repossessions hit 1.73 million units last year, the highest level since 2009, when the widespread job losses and severe credit crunch of the Great […]
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