U.S. Auto Debt Grows to Record High Despite Pandemic – experian.com
In this article:
• Auto Debt Climbs to Record High of $1.37 Trillion
Though the COVID-19 pandemic decisively changed many aspects of Americans’ routines, one of the most notable differences has been in mobility and the necessity to leave the house.
Pandemic lockdowns and the desire to avoid infection kept many Americans inside, causing them to reconsider how much they can get done without leaving home. With stay-at-home the new normal in 2020—and a record number of people working remotely—the nation rapidly adapted to delivery services, and many online retailers saw their businesses boom.