“In 2024, car repossessions topped 2.3 million, above the 2009 peak in the middle of the Great Financial Crisis.”
Ted CruzEconomy
CredMeter Fact Check Verdict
Fact Check Performed On November 5, 2026
Auto loan defaults reached about 2.33 million in 2024, exceeding Great Recession peaks, but actual vehicle repossessions were approximately 1.73 million according to Cox Automotive, the highest since 2009 but not 2.3 million.
Evidence sources
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