How crypto helps lenders cover loan value

Repossessions of vehicles are increasing. Jalopnik reports that subprime repos have increased by 11% since 2020. According to Barron's, 

repossession rates have increased from 2% to 4% over the previous two years, even among top borrowers with good credit scores.

Given how costly cars have gotten, this tendency is hardly shocking.

According to Kelley Blue Book, the average cost of a new car is currently over $47,000, and the average cost of a used car is over $32,000.

According to Edmunds, more than 12% of consumers who bought a new car in the previous two years have monthly payments of more than $1,000.

Repossession rates are probably going to increase if the United States has a recession over the next 12 months. 

Do you recall the subprime mortgage crisis, when millions of homeowners experienced negative equity?

Many of the over six million homeowners who lost their houses to foreclosure made the decision to leave intentionally.

Unfortunately, there is a chance that this scenario will come to pass in the car sector.