Americans are drowning in auto loan delinquencies; report says Congress needs to fix it

The growing costs to buy and maintain a car – exacerbated by inflation and tariffs – are leading to rising auto loan defaults and repossessions and a potential crisis for American consumers left unprotected by the federal government, according to a new report by a consumer advocacy organization. The record number of defaults is a canary in the coal mine for large-scale economic problems, the Consumer Federation of America warned.