Imagine working overtime but still sweating every car payment. That’s reality for millions of Americans as auto loan delinquencies surge to a four-year high. With living costs skyrocketing, more drivers are finding themselves underwater—owing more on their loans than their vehicles are worth. 💰📉
Data shows borrowers now carry record debt levels, with monthly payments stretching budgets thinner than ever. "It’s a domino effect," says CGTN’s Ira Spitzer in Washington. "Rent, groceries, and gas prices leave little room for car notes." 🏠🍞⛽
While electric vehicles and luxury cars grab headlines, this financial squeeze hits hardest for middle-income families relying on vehicles to commute. Experts warn the trend could ripple through the economy, affecting everything from insurance rates to used-car markets. 🔄📊
