Upside-Down Car Loans Owed by Americans Hit All-Time High

Thirty-day delinquency rates on auto loans have ‘risen considerably’ over the past years, according to the Federal Reserve.

Used cars are displayed at a dealership lot in New York on June 10, 2022. Spencer Platt/Getty Images

An increasing number of U.S. citizens with auto loans now have debts that exceed the vehicle value, according to automotive resource firm Edmunds.

“The share of Americans who are upside down on their auto loans is on the rise,” Edmunds said in an Oct. 15 statement.