The delayed day of reckoning has arrived for millions of Americans who purchased vehicles during the pandemic auto boom. Many are now finding themselves trapped in a shitstorm of negative equity and burdened by costly monthly payments, all while low- and mid-tier consumers face mounting financial strain amid elevated inflation and high interest rates.
Bloomberg Intelligence’s Joel Levington published a new report Monday, citing new data from CarEdge that showed a staggering 39% of vehicles financed since 2022 carry negative equity, including 46% of EVs …
https://www.zerohedge.com/markets/nearly-40-cars-financed-2022-are-underwater