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During the pandemic, many consumers were emboldened by government stimulus checks and reduced spending on travel and leisure. This influx of cash led to a spending spree on vehicles, often at inflated prices. Cars that were once seen as a status symbol became symbols of questionable financial decisions, as buyers often over-extended their budgets to secure luxury vehicles. It raises the question: why would anyone invest in a vehicle only to have it sit idle in a garage?
Current Repossession Trends